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An employee earns $44 per hour and 1.75 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 60 hours during the week, and that the gross pay prior to the current week totaled $63,800. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and federal income tax to be withheld was $759.
a. Determine the gross pay for the week. $
If applicable, round your final answer to two decimal places.
b. Determine the net pay for the week. $
Prepare the current liabilities and long-term debt portions of Craig's balance sheet at December 31, 2008. Provide a separate line item for each issue, but some items may need to be split into more than one item.
Lemaire sells its tools wholesale for $1.85 each; the average cost per unit is $1.83, of which $0.27 is fixed costs. If Lemaire were to accept Boisvert's offer, illustrate what would be the increase in Lemaire's operating profits?
Your stock portfolio consists of only two stocks. You have $115,000 in Company A and $125,000 in Company B. Company A has an actual return of -8% and Company B has a return of 12%. What is the return on your portfolio?
Place yourself in the role of a manager at a company undergoing a merge or acquisition.What would be the most important things customers would expect from you while still inthat process? What role would IT play in meeting those expectations? Provide ..
Show the effects of your entries in part (c) on your evaluation of these companies based on the return on assets ratio.
On hearing that you are undertaking a subject in accounting as a part of your degree you are approached by a friend, Michael Graham, to give him advice regarding the potential purchase of a business.
Harrison Forklift's pension expense includes a service cost of $27 million. Harrison began the year with a pension liability of $47 million (underfunded pension plan).
Items from the 2011 income statement, statement of retained earnings, and balance sheet of Electronic Arts, Inc., are listed below in alphabetical order. Solve for the missing amounts. (Loss amounts should be indicated with a minus sign.)
Some companies carry essentially no long term debt and only a minimal amount of short term debt in their capital structure. Review the balance sheets of google and Novatris. Provide an explanation for why well-managed and profitable companies appear ..
1. What is MACRS? In your explanation, please describe the recovery periods, depreciation methods and depreciation conventions. 2. What is the difference between a recognized gain/loss and a realized gain/loss?
Write the name of the corporation, the stock market where it is traded. State why you want to study and prepare a financial analysis of your corporation.
Calculate the amounts of the adjusting entries and enter them in the adjustments column and enter the amounts in the adjusted trail balance column - prepare the Income Statement
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