An employee receives an hourly rate of 27 with time and a

Assignment Help Accounting Basics
Reference no: EM13578467

An employee receives an hourly rate of $27, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $106,800; and Medicare tax rate, 1.5% on all earnings. What is the net pay for the employee?

Reference no: EM13578467

Questions Cloud

Crowe company has acquired a building with a loan that : crowe company has acquired a building with a loan that requires payments of 20000 every six months for 5 years. the
Given the adjusted trial balance below prepare in good form : given the adjusted trial balance below prepare in good form an income statement statement of retained earnings and
Texas communications corp reported the following figures in : texas communications corp. reported the following figures in its financial statements amounts in thousands cash
The performances of a group of interns are evaluated by : question the performances of a group of interns are evaluated by their supervisors at the end of their
An employee receives an hourly rate of 27 with time and a : an employee receives an hourly rate of 27 with time and a half for all hours worked in excess of 40 during a week.
The anxiety general stress test angst has been designed to : question 1 the performances of a group of interns are evaluated by their supervisors at the end of their
On january 1 2012 richards inc had cash and common stock of : on january 1 2012 richards inc. had cash and common stock of 66120. at that date the company had no other asset
The distribution of iq scores is normal with micro 100 : the distribution of iq scores is normal with micro 100 and sigma 15. what proportion of the population has iq scores
Sam has a loan that requires a single payment of 4000 at : sam has a loan that requires a single payment of 4000 at the end of 3 years. the loans interest rate is 6 compounded

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Determine the interst earned by todd company

The bond pay interest on march 1 and septmber1. on october 1,2012,todd copany sold $24,000 of lincoln company bonds acquired on may 1. plus one month accured interest.on december 31,2012, four omnyhs interst was acuured for the remaining bonds. De..

  What is a current liability from the perspective of a user

what is a current liability? from the perspective of a user of financial statements why do you believe current

  Compute the margin of safety ratio for current operations

mary willis is the advertising manager for bargain shoe store. she is currently working on a major promotional

  Five-year noncancelable lease for equipment

On January 1, 2011, Sauder Corporation signed a five-year noncancelable lease for equipment. The terms of the lease called for Sauder to make annual payments of $50,000 at the beginning of each year for five years with title to pass to Sauder at t..

  Determine the contribution margin in dollar

Determine the contribution margin in dollars, per unit, and as a ratio and using the contribution margin technique, compute the break-even point in dollars and in units.

  Determining company current stock price

The company's beta is 1.25, the required return on the market is 10.50%, and the risk-free rate is 4.50%. What is the company's current stock price?

  What is the breakeven point if tax reduced

What is the breakeven point if Mount Carmel's tax rate is reduced to 25%, assuming the sales mix is 2 units of Product A for each unit of Product B?

  Need fixed cost variable cost is 125 and is correct please

need fixed cost variable cost is 1.25 and is correct please show how you got your answerwendys widgets builds the

  Conceptual rationale for methods of matching depreciation

Which of the following principles best describes the conceptual rationale for the methods of matching depreciation expense with revenues?

  Prior service cost and a negligible net loss

The projected benefit obligation was $180 million at the beginning of the year and $192 million at the end of the year. Service cost for the year was $10 million. At the end of the year, there was no prior service cost and a negligible net loss-AOCI...

  What is the variable production cost per unit

Top Disc manufactures frisbees. The following information is available for 2013 , the company's first year in business when it produced 325,000 units. Revenue of $450,000 was generated by the sale of 180,000 frisbees.

  Northwick company dividend revenue

The following January, Shaver announced a $100,000 net income for 2011 and declared a cash dividend of $.50 per share on its 100,000 shares of outstanding common stock. The Northwick Company dividend revenue from Shaver Corp. in January 2011 would..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd