What will be the gross amount of each bonus if each

Assignment Help Accounting Basics
Reference no: EM13585183

Mattola Company is giving each of its employees a holiday bonus of $100 on Dec 20th (a nonpayday). The company wants each employee's check to be $100. The supplemental tax percent is used.

a. What will be the gross amount of each bonus if each employee pays a state income tax of 2.8% (besides the other payroll taxes)? Please demonstrate the process used to achieve your answer

b. What would the net amount of each bonus check be if the company did not gross up the bonus? Please demonstrate the proces used to achieve your answer.

Reference no: EM13585183

Questions Cloud

Gear a with a mass of 175 kg and a radius of 550 cm is in : gear a with a mass of 1.75 kg and a radius of 55.0 cm is in contact with gear b with a mass of 0.875 kg and a radius of
Using a human cell of your choice and describe how : a using a human cell of your choice and describe how organelles work together to make and secrete a protein including
A project being analyzed by pert has 38 activities 16 of : question 1 a project being analyzed by pert has 38 activities 16 of which are on the critical path. if the estimated
When two lenses are used in combination the first one forms : when two lenses are used in combination the first one forms an image that then serves as the object for the second
What will be the gross amount of each bonus if each : mattola company is giving each of its employees a holiday bonus of 100 on dec 20th a nonpayday. the company wants each
The company has two departments assembly and testing in : candid inc is a manufacturer of digital cameras. the company has two departments assembly and testing. in january 2013
A potential customer has contacted the firm and offered to : consider the following information prepared based on a monthly capacity of 80000 unitsnbspcategorycost per unitvariable
When two lenses are used in combination the first one forms : when two lenses are used in combination the first one forms an image that then serves as the object for the second
A length of buck antlers is normal distributed with a mean : a length of buck antlers is normal distributed with a mean of 1.30 inches and a standard deviation of 0.08 inch. if you

Reviews

Write a Review

Accounting Basics Questions & Answers

  Luca company overapplied manufacturing overhead throughout

luca company overapplied manufacturing overhead during 2006. which one of the following is part of the year end entry

  Higher ranked division using residual income

Determine the higher ranked division using residual income (with cost of capital at 10%) as the criterion.

  Explain this type of revenue recognition transaction

Explain this type of revenue recognition transaction, and what factors should be considered in determining when to recognize revenue in this transaction?

  Appropriate journal entry to record the award

Prepare the appropriate journal entry to record the award of SARs on January 1, 2006.

  Astaire company uses the gross profit method to estimate

astaire company uses the gross profit method to estimate inventory for monthly reporting purposes. presented below is

  A compute the materials price and quantity variances b

a company produces bird food. during april itproduced147 batches of food each batch weighing 100 lbs. to produce this

  The working capital would be released for use elsewhere

the working capital would be released for use elsewhere when the project is completed. what is the net present value of

  Determining necessary sample size

Jolly Blue Giant Health Insurance (JBGHI) is concerned about rising lab test costs and would like to know what proportion of the positive lab tests for prostate cancer are actually proven correct through subsequent biopsy. JBGHI demands a sample l..

  All what does ifrs require for external reports also why

all what does ifrs require for external reports? also why would most companies use absorption costing for their

  This question has been posted before i cant get it and

this question has been posted before. i cant get it and neither could the last person nor several who tried it for that

  Draw the binary tree representation

Draw the binary tree representation

  A friend of yours says its easy to look at the statement

a friend of yours says its easy to look at the statement of cash flows and see that a company has been profitable

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