Four taxes as applied to the employees gross earning

Assignment Help Financial Management

Reference no: EM13911240

BMX Company has one employee. FICA social security taxes are 6.2% of the first 117,000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and four taxes as applied to the employee’s gross earning for September under each of the three separate situations (a),(b), and (c). (Round amounts to cents.)

Gross pay through august a) $6,400 b) $18,200 c) $110,700

Gross pay for September a) $800 b) $2,100 c) $8,000

Reference no: EM13911240

Questions Cloud

Calculate the amount of net income reported : Grant, Inc. acquired 40% of South Company's common stock for $200,000 on January 1, 2014. In its 2014 cash flow statement, Grant, Inc. reported an operating cash inflow related to its investment in South Company of $6,800. Calculate the amount of net..

What environmental forces : What environmental forces (uncontrollable variables) must the college in question 4 consider in designing its marketing program?

Describe the features and capabilities of your ideal ess : Imagine that you are the vice president of manufacturing for a Fortune 1000 manufacturing company. Describe the features and capabilities of your ideal ESS.

What is the net present value of this decision : A manufacturer of video games develops a new game over two years. This costs $850,000 per year with one payment made immediately and the other at the end of two years. When the game is released, it is expected to make $1.2 million per year for three ..

Four taxes as applied to the employees gross earning : BMX Company has one employee. FICA social security taxes are 6.2% of the first 117,000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and four taxes as applied to the employee’s gross earning fo..

Who should decide what is good and what is bad : Does a firm have the right to create wants and try to persuade consumers to buy goods and services they didn't know about earlier?

Bond portfolio has a target duration : The manager of a $30 million bond portfolio has a target duration of 13 years for a portfolio with a current duration of 18 years. The manager can add zero coupon bonds with 15 years to maturity, perpetuities with a 15% YTM, or both to the portfolio ..

Considering investing in corporate bond : You are considering investing in a corporate bond with the following parameters: 15 years to maturity, 12% coupon paid annually, 10% YTM, and a $1,000 par value. What is the yield value of a 32nd of this bond?

Describe the features you would include in your new gss : Describe the features you would include in your new GSS software.

User Account

All Pages