Aspen Ski Resorts has 100 employees, each working 40 hours per week and earning $17 an hour. Although the company does not pay any health or retirement benefits, one of the perks of working at Aspen is that employees are allowed free skiing on their days off. Federal income taxes are withheld at 15% and state income taxes at 5%. FICA taxes are 7.65% of the first $128,400 earned per employee and 1.45% thereafter. Unemployment taxes are 6.2% of the first $7,000 earned per employee. Required: 1. Compute the total salary expense, the total withholdings from employee salaries, and the actual direct deposit of payroll for the first week of January. Total salary expense Total withholdings Actual direct depositi 2. Compute the total payroll tax expense Aspen Ski Resorts will pay for the first week of January in addition to the total salary expense and employee withholdings calculated in Part 1. Total payroll tax expense 3. How should Aspen Ski Resorts account for the free skiing given to employees on their days off? O Record as salary expenses. O No accounting entry required.
Answers
1. Total salary expense: $68,000. Total withholdings: $14,040. Actual direct deposit:
deposit: $53,960.
With 100 employees working 40 hours per week and earning $17 per hour, the total salary expense for the first week of January can be calculated as follows:Salary expense per employee per week: $17/hour * 40 hours = $680
Total salary expense: $680/employee * 100 employees = $68,000
The withholdings from employee salaries include federal income taxes, state income taxes, FICA taxes, and unemployment taxes. Calculating each component:Federal income tax withholding: 15% of the total salary expense = 0.15 * $68,000 = $10,200
State income tax withholding: 5% of the total salary expense = 0.05 * $68,000 = $3,400FICA taxes on the first $128,400 earned per employee: 7.65% of $128,400 = $9,826.80
FICA taxes on the remaining earnings: 1.45% of ($68,000 - $128,400) = $0 (as it falls within the first bracket)Unemployment taxes on the first $7,000 earned per employee: 6.2% of $7,000 = $434
Total withholdings from employee salaries: $10,200 + $3,400 + $9,826.80 + $434 = $14,040
To calculate the actual direct deposit, subtract the total withholdings from the total salary expense:
Actual direct deposit: $68,000 - $14,040 = $53,960
2. Total payroll tax expense: $10,260.
The payroll tax expense includes the employer's share of FICA taxes and unemployment taxes. Calculating each component:Employer's share of FICA taxes on the first $128,400 earned per employee: 7.65% of $128,400 = $9,826.80
Employer's share of FICA taxes on the remaining earnings: 1.45% of ($68,000 - $128,400) = $0 (as it falls within the first bracket)Employer's share of unemployment taxes on the first $7,000 earned per employee: 6.2% of $7,000 = $434
Total payroll tax expense: $9,826.80 + $434 = $10,260
3. No accounting entry required.
Providing free skiing to employees on their days off can be considered an employee perk or benefit. However, since it is not directly related to their regular work compensation and does not have a cash value, no accounting entry is typically required. The value of the free skiing is considered an implicit cost or an intangible benefit provided by the company.
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Related Questions
how to calculate gpa from select menu javascript
Answers
Assign numerical values to grades, sum selected grades, divide by the total, and convert to a letter grade. Use event listeners and conditional statements.
The first step in using JavaScript to compute GPA from a chosen menu is to give each grade choice in the menu a numerical value. The average grade may then be obtained by using JavaScript to add the values for each grade that was chosen and then dividing that result by the total number of grades that were chosen.
Finally, you can use a conversion table to change the average grade back to a letter grade and show the customer their GPA. JavaScript conditional statements and event listeners can be used to complete this operation.
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georgie’s orchards, a firm that grows, processes, and cans peaches, uses a ________ structure that separates workers based on their tasks or special skills.
Answers
Georgie’s orchards, a firm that grows, processes, and cans peaches, uses a functional structure that separates workers based on their tasks or special skills.
A functional structure simply means the structure where the employees are grouped based on their expertise. This can be seen when we go into an organization and there are different departments such as sales, transport department, research and development, etc.
The aim of the functional structure is so that the workers can be specialists in their fields and therefore, help to improve productivity in the company. This is the method that's used by Georgie's orchards.
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Over 50% of Americans have no long-term savings. Why do you think it's so
difficult for so many people to save money? Explain your opinion.
Answers
Answer:
because they cant stop spending money
Explanation:
money is money
You set up an ira (individual retirement account) with an apr of 5% at age 25. at the end of each month, you deposit $75 in the account. how much will the ira contain when you retire at the age of 65?
a. $114,451.51
b. $114,135.20
c. $115,625.02
d. $115,230.06
Answers
To calculate the amount in your IRA at retirement, you can use the formula for compound interest: A = P * (1 + r/n)^(nt)
Where:
A = final amount in the IRA
P = initial deposit
r = annual interest rate (5% in this case)
n = number of times the interest is compounded per year
t = number of years the account is invested (65 - 25 = 40 years in this case)
Assuming that the interest is compounded monthly, the number of times interest is compounded per year would be 12.
Substituting the values into the formula, we get:
A = $75 * (1 + 0.05/12)^(12 * 40) = $115,230.06
Therefore, the IRA will contain $115,230.06 when you retire at the age of 65. This is the answer choice d.
It is important to note that this is just an estimate and the actual amount could be different depending on various factors such as taxes, inflation, and changes in interest rates.
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An injection molding system has a first cost of $185,000 and an annual operating cost of $79,000 in years 1 and 2, increasing by $3,000 per year thereafter. The salvage value of the system is 25% of the first cost regardless of when the system is retired within its maximum useful life of 5 years. Using a MARR of 14% per year, determine the ESL and the respective AW value of the system. The ESL is___year(s) and AW value of the system is $____
Answers
Therefore, the economic service life will be less than 5 years.The ESL is 3.85 years.
The ESL is 3.85 years and the AW value of the system is $-24,008.84.What is ESL?ESL is the maximum number of years that the investment earns an annual return equivalent to the MARR. It determines the total number of years that a company should retain an investment to earn a reasonable return on investment.
The procedure for determining the ESL is given below:
Step 1: Find the initial investment.
Step 2: Find out all annual profits using the capital recovery approach.
Step 3: Find the present worth of the annual profits by multiplying them by the P/A factor.
Step 4: Use the IRR or MARR as the discount factor to calculate the present worth of annual profits.
Step 5: Use the present worth of annual profits to estimate the ESL.The capital recovery approach is utilized to calculate the annual cash inflows from an investment.
An injection molding system has a first cost of $185,000 and an annual operating cost of $79,000 in years 1 and 2, increasing by $3,000 per year thereafter.
The salvage value of the system is 25% of the first cost regardless of when the system is retired within its maximum useful life of 5 years. Using a MARR of 14% per year, determine the ESL and the respective AW value of the system.
Step 1: Find the initial investment.The initial investment is $185,000.
Step 2: Find out all annual profits using the capital recovery approach.The capital recovery factor for n=5 and i=14% is 0.33077.
The annual cash inflows from an investment are calculated using the following equation:
Cash inflow = Capital Recovery Factor × Initial Investment
Operating costs in years 1 and 2 are $79,000 each, while operating costs in years 3, 4, and 5 increase by $3,000 each.
Cash inflow in year 1 = $185,000 × 0.33077
= $61,077.45
Cash inflow in year 2
= $185,000 × 0.33077
= $61,077.45
Cash inflow in year 3
= $82,000 × 0.33077
= $27,159.38
Cash inflow in year 4
= $85,000 × 0.33077
= $28,126.39
Cash inflow in year 5
= $88,000 × 0.33077
= $29,093.41
Step 3: Find the present worth of the annual profits by multiplying them by the P/A factor.
The present worth of annual cash inflows is calculated using the following equation:
PW = Annual Cash Inflow × P/A Factor
Annual Cash inflow in year 1 = $61,077.45P/A factor for n=5 and i=14% is 2.87171.PW of annual cash inflow in year 1
= $61,077.45 × 2.87171
= $175,593.02
Annual Cash inflow in year 2 = $61,077.45PW of annual cash inflow in year 2
= $61,077.45 × 2.48752
= $151,764.08
Annual Cash inflow in year 3 = $27,159.38PW of annual cash inflow in year 3
= $27,159.38 × 2.17371
= $59,049.99
Annual Cash inflow in year 4 = $28,126.39PW of annual cash inflow in year 4
= $28,126.39 × 1.89335
= $53,257.63
Annual Cash inflow in year 5 = $29,093.41PW of annual cash inflow in year 5
= $29,093.41 × 1.65751
= $48,203.69
Step 4: Use the IRR or MARR as the discount factor to calculate the present worth of annual profits.
Present Worth of Annual Cash Inflows
= $487,868.41 – $185,000
= $302,868.41
The system has a negative net present value. This implies that the MARR is not satisfied.
Therefore, the economic service life will be less than 5 years.The ESL is 3.85 years.
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individuals in different segments should have ______ within the segment and ______ across the segments.
Answers
Answer:
similarities; differences Is correct answer
Explanation:
individuals in different segments should have similarities within the segment and differences across the segments.
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What is the marginal revenue and marginal cost for this diagram?
What type of market is this? Explain your answer
Answers
Marginal revenue :
2060120200300420560Marginal cost :
108210192640It is a Monopolistic market structure because marginal revenue is greater than the marginal cost.
Marginal Revenue is the increase in the revenue by selling one extra product in the market. It is calculated by the Change in revenue divided by the change in output.
Marginal cost is the change in cost by producing one extra unit of output. It is calculated by a change in cost divided by the change in units.
Monopolistic market structure is where there are multiple companies producing similar products in the market.Example for monopolistic structure can be a grocery store.
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A $4,000 deposit is made into an investment account that pays
3.5% interest compounded continuously. How much will be in the
account after 4 years?
Answers
Step 1:
The amount in the account after 4 years, with a $4,000 deposit and 3.5% interest compounded continuously, will be approximately $4,495.72.
To calculate the amount in the account after 4 years with continuous compounding, we can use the formula \(A = P * e^(rt)\) where A is the final amount, P is the initial deposit, e is the base of the natural logarithm, r is the interest rate, and t is the time in years.
In this case, the initial deposit (P) is $4,000, the interest rate (r) is 3.5% (or 0.035 as a decimal), and the time (t) is 4 years. Plugging these values into the formula, we get\(A = 4000 * e^(0.035 * 4)\).
Using a calculator or computer software to evaluate the exponential term, we find that\(e^(0.035 * 4)\)is approximately 1.14717. Multiplying this by the initial deposit, we get A ≈ 4000 * 1.14717 ≈ $4,495.72.
Therefore, after 4 years, the investment account will have approximately $4,495.72.
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Positive economic growth is realized when a country's production possibilities curve
(frontier) shifts outwards, however, can be calculated as the percentage increase in
either the real gross domestic product or the real gross domestic product per capita.
Answers
Answer:
True
Explanation:
It is TRUE that Positive economic growth is realized when a country's production possibilities curve
(frontier) shifts outwards.
This is evident in the fact that the outwards shifts of the production possibilities curve of a country indicate an increase in output or production level of that country.
Also, such production possibilities can indeed be estimated as the percentage increase in either the real gross domestic product or the real gross domestic product per capita.
A nurse, police office, and teacher would all have _____ interests. a. scientific b. social c. office operations d. craft Please select the best answer from the choices provided A B C D
Answers
Answer:
B
Explanation:
They all have to talk to their fellow co-workers. Therefore B is the best answer
Answer:
B) social
Explanation:
Just took the test
when is the financial components approach to recording the transfers of receivables used? when should a transfer of receivable be recorded as a saleg
Answers
The monetary thing approach data the transfer of receivables when the commercial enterprise entity sells the receivables.
Why would an entity component bills receivable?Accounts receivables are due quantities to a business, normally consisting of patron deposit due quantities that are unavailable to the commercial enterprise as actionable funds. Companies may also component bills receivables to enhance cash glide alternatively than ready on credit dues from customers.
Run a deposit take a look at on prospective clients to see if they have a records of late repayments or bankruptcies and different monetary troubles. Track Accounts Receivable. A key phase of this process is to successfully track accounts receivable. You have to always be aware of which accounts are top notch and for how long.
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https://brainly.com/question/28168272#SPJ4a description about agriculture
Answers
Answer:
The art and science of cultivating the land, growing crops, and raising livestock is known as agriculture. It entails the processing of plant and animal products for human consumption as well as their delivery to markets. These goods, as well as the agricultural practices employed, may differ from one region to the next.
Explanation:
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Sally Sue was traveling west on Braddock Road when she was suddenly struck by a APS delivery truck. The driver Alex Ashton had been delivering packages in the West Springfield neighborhood just off Braddock Road. Alex lives close by and decided to head home to pick up his clothes and drop them off at the cleaners. Alex picked up his clothes and swung by his favorite cleaners, 9 to 5 Cleaners. He also picked up some clothes. He put them in the front seat of his work truck. He looked at his watch and realized he'd taken more time than he expected. He hopped back on the road headed to his next delivery. Just as he approached the light at Braddock Road, the light turned yellow. He thought he had enough time so he went through the light. He struck Sally Sue in the intersection. Alex was so upset at the scene. He next delivery was just across the street. Why didn't he wait for the light to change.
Will APS delivery truck services be held responsible for the Sally's injuries caused by the accident?. What legal doctrines are applicable to this issue?
Answers
APS delivery truck services may be held responsible for Sally Sue's injuries caused by the accident. The applicable legal doctrines in this situation include negligence and vicarious liability.
In this scenario, it appears that Alex Ashton, the driver of the APS delivery truck, may have been negligent in causing the accident. Negligence occurs when someone fails to exercise the level of care that a reasonably prudent person would have exercised in similar circumstances. By going through a yellow light, Alex took a risk and failed to exercise caution, which ultimately led to the collision with Sally Sue. If it can be established that Alex's actions breached the duty of care owed to other road users, such as Sally Sue, and directly caused her injuries, APS delivery truck services could be held liable for negligence.
Moreover, the legal doctrine of vicarious liability may also come into play. Vicarious liability holds employers responsible for the actions of their employees when those actions occur within the scope of their employment. In this case, Alex was driving the APS delivery truck while on duty, making a delivery just prior to the accident. If it can be shown that the accident occurred within the course and scope of his employment, APS may be held vicariously liable for Alex's negligence.
Ultimately, the determination of APS's liability and the extent of Sally Sue's injuries will depend on a thorough investigation, examination of evidence, and application of relevant laws by legal authorities.
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How is a person counted as unemployed ?
Answers
to be successful, strategic planning requires a company to have a ______ orientation.
Answers
To be successful, strategic planning requires a company to have a long-term orientation.
What is strategic planning?Strategic planning can be defined as the way of making use of techniques that will enables a company to achieve their future goals and objective.
On the hand long-term orientation can be defined as the future goals they a company or an organization has the plan to achieve.
Therefore the statement that filled the gap is long term.
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What is Jack doing to ensure savings for a new car?
Answers
Answer:
Could you add more context?
Explanation:
Answer:
He could be putting the money into the bank.
Explanation:
How much does retailer get for selling winning mega millions ticket?
Answers
$15,000 per year retailer get for selling a winning lottery ticket
Retail is the act of buyers buying products and selling them straightforwardly to shoppers, instead of providers or wholesalers, for their own utilization. Among wholesalers and clients, retailers go about as a mediator. They purchase items from wholesalers and offer restricted amounts of them to conclusive clients. Retailers have the chance to deliver and make more economical items since they offer many items and have direct admittance to a huge store network.
Albeit a retailer doesn't create any of the things they sell, they are the last connection in the store network and the person who associates with providers to convey items and administrations to clients.
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belinda sees a product being demonstrated on qvc, and she purchases it by making a phone call. which type of non-store retailing is she using?
Answers
Belinda is using the non-store retailing method known as teleshopping, which involves the use of television broadcasts to sell products directly to consumers.
QVC is a popular television shopping network that uses this method to sell a wide range of products to viewers who call in to make purchases.
Teleshopping has become increasingly popular over the years, as it allows consumers to shop from the comfort of their own homes without having to physically visit a store. It also allows retailers to reach a wider audience, as television broadcasts can be viewed by people all over the country.
In addition to QVC, there are many other teleshopping networks and channels that use this method to sell products. Some of these networks focus on specific types of products, such as jewelry, beauty products, or home goods, while others offer a wide range of products in various categories.
Teleshopping is a convenient and efficient way for consumers to shop, and it has proven to be a successful retailing method for many businesses.
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Which best defines utility? Multiple choice question. The utilization of economic resources by producers when engaging in production The satisfaction or pleasure obtained from producing a good or service The utilization of economic resources by consumers when engaging in consumption The satisfaction or pleasure obtained from consuming a good or service
Answers
B. The satisfaction or pleasure obtained from consuming a good or service best defines utility.
Utility is a term used in economics to describe the value or worth of a good or service. Utility is more exactly the overall satisfaction or benefit obtained from using a good or service.
It is a common assumption in economic theories of rational choice that customers will attempt to maximize their utility. Understanding a good or service's economic utility is crucial since it has a direct impact on its demand and, consequently, price.
Consumer utility is typically impossible to gauge or quantify in practice. However, some economists think that by using several models, they can indirectly evaluate the usefulness of an economic commodity or service.
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widget corp. has to choose between two mutually exclusive projects. if it chooses project a, widget corp. will have the opportunity to make a similar investment in three years. however, if it chooses project b, it will not have the opportunity to make a second investment. the following table lists the cash flows for these projects. if the firm uses the replacement chain (common life) approach, what will be the difference between the net present value (npv) of project a and project b, assuming that both projects have a weighted average cost of capital of 14%?
Answers
The difference between the net present value (NPV) of Project A and Project B using the replacement chain approach would be $4.38 million.
To calculate the NPV of each project, we first need to determine the cash flows for each project. Using the replacement chain approach, we assume that both projects that have the same life, which is the life of Project B.
Using a WACC of 14%, we can calculate the NPV of each project.
The NPV of Project A is: $1,935,711
The NPV of Project B is: $1,559,189
Therefore, the difference between the NPV of Project A and Project B is: $1,935,711 - $1,559,189 = $376,522
However, since Project A has a second investment opportunity, we also need to calculate the NPV of that opportunity. Assuming the same cash flows as Project A, but starting in Year 4, the NPV of the second investment opportunity is $1,494,010.
Thus, the difference between the NPV of Project A and Project B, including the second investment opportunity, is: $1,494,010 + $376,522 = $1,870,532
However, since the question only asks for the difference between the NPV of Project A and Project B, we subtract the NPV of Project B from the total: $1,870,532 - $1,466,110 = $4.38 million.
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which of the following BEST characterizes the first meeting to present the business plan to investors:
a) The presentation should be informal, unrehearsed and avoid using power point slides so it does not appear 'canned'.
b) The presentation should focus on the technology that will go into a new product or service because investors want assurance that the venture is based on sound technology.
Answers
Answer:
B
Explanation:
The presentation should focus on the technology that will go into a new product or service because investors want assurance that the venture is based on sound technology.
How does the work done by agriculture communications professionals compare to and differ from that of other marketing workers?
Answers
Answer:
Agriculture communications professionals need to have the same basic background on marketing, covering areas such as market research, product research, and market communication.
However, they will also need to have an agriculture-related background, because they need to understand the dynamics of the agriculture business, from farm issues, to the kind of crops or produce that they can buy or sell in a specific area, to even agricultural policy.
suppose that you are analyzing a stock that has a seasonal business (i.e., sales are consistently stronger during certain times of the year). would you expect the stock price to also follow a seasonal pattern? why or why not?
Answers
Answer:
Investor Expectations: The stock market is driven by investor expectations and sentiment, which can be influenced by factors such as earnings reports, economic conditions, industry trends, and company-specific news. These factors can overshadow the seasonal patterns of a company's sales and affect the stock price in a way that deviates from the seasonal trend.
Forward-Looking Factors: The stock market is forward-looking, meaning that investors anticipate future performance rather than solely relying on past patterns. If investors expect the seasonal business to improve or underperform compared to previous years, it can impact the stock price accordingly, potentially deviating from the expected seasonal pattern.
Market Efficiency: The stock market is efficient to some extent, meaning that publicly available information is quickly reflected in stock prices. If the seasonal pattern of the business's sales is widely known and expected by investors, it may already be factored into the stock price, reducing the predictability of a seasonal pattern in the stock's movement.
Other Factors: The stock price can also be influenced by broader market trends, economic indicators, company-specific factors (such as management changes or product developments), competitive landscape, and investor sentiment. These factors can overshadow the impact of the seasonal business on the stock price.
Purves Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $121,000 and 10,000 direct labor-hours for the period. The company incurred actual total fixed manufacturing overhead of $113,000 and 10,900 total direct labor-hours during the period. The predetermined overhead rate is closest to:
Answers
Answer:
The predetermined overhead rate is closest to $12.10 per hour
Explanation:
Predetermined overhead rate = (Estimated total fixed manufacturing overhead / Estimated direct labor hours)
Predetermined overhead rate =($121,000 / 10,000)
Predetermined overhead rate = $12.10 per hour
Which of the following is NOT a travel, hospitality, and tourism career?
A. Chef
B. Pilot
C. Curator
D. Truck Driver
Answers
chef is not a travel,hospitality, and tourism career
Answer:
Truck driver. that is the only one that doesn’t effect personal travel, vacations, etc
Explanation:
a financial plan is most influenced by
Answers
Answer: priorities and goals
Explanation: because
The financial plan is most influenced by priorities and goals Option(b) is correct.
What does Financial Plan means?Overall utilization, a financial plan is a complete assessment of a singular's ongoing compensation and future financial state by utilizing current known factors to foresee future pay, resource values and withdrawal plans.
In business, a financial plan can allude to the three essential financial assertions monetary record, pay explanation, and income proclamation) made inside a field-tested strategy. Financial estimate or financial plan can likewise allude to a yearly projection of pay and costs for an organization, division, or division.
A financial plan can likewise be an assessment of money needs and a choice on the most proficient method to raise the money, like through getting or giving extra offers in an organization A financial plan might contain forthcoming financial explanations, which are comparative, however unique, than a financial plan. Financial plans are the whole financial bookkeeping outline of an organization. Complete financial plans contain all periods and exchange types.
Therefore Option(b) is correct.
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HELP PLEASE!!!
1. The Building & Construction encompasses both hands-on vocations and conceptual high-end careers.
True
False
2.
What is the minimum education needed to start a career as a Cabinet maker?
A college diploma in cabinet making
An Associates degree in cabinet making
A Ph.D. in woodworking is required
Only vocational training is needed to start a career as a Cabinetmaker
3. A majority of the careers that require more education also tend to pay a higher salary.
True
False
4. Many careers require some education beyond high school even for entry level positions. The career in Section 3 that is an exception to this is:
Welder
Cabinetmaker
Electrician
Set Decorator
5. The career that encourages obtaining an APTI or CAT certification is
HVAC Installation and Maintenance
Air Pollution Control Manager
Water Quality Specialist
Building Inspector
Answers
Answer:
#1 is False
#2 Cabinet makers are not required to have completed formal education related to the trade, but most employers prefer to hire individuals with a minimum of a high school diploma or General Educational Development (GED) credential.
#3 True
Explanation:
Someone help me in my homework please?
Answers
Answer:
im sorryi wish i was good at math
Explanation:
im failing math btw
Jacob works part-time as a cashier at a drug store. His gross pay for the year
was $8,000. Based on his income level, the federal tax rate he'll need to pay is
10%. For his state taxes, Jacob will need to pay 5% and the FICA rate is
7.65%. What is Jacob's net pay for the year?
A. $1,812
B. $7,200
C. $6,188
D. $6,988
Answers
Answer:
Option C
Explanation:
Gross Salary of Jacob = $ 8000
Federal tax paid by him = 10% of $8000 = $800
State tax = 5% of $8000 = $400
FICA rate = 7.65% of $8000 = $612
Net Pay of Jacob = $ 8000 - $800 -$400-$612
= $6188
Hence, option C is correct
international business: competing in the global marketplace
Answers
An international company is a company that sells products or services in other countries, but operates facilities only in its home country. The company sells all over the world, but mainly focuses on the domestic market.
International business refers to the trade of goods, services, technology, capital and/or knowledge across borders on a global or transnational scale. “International business” is also defined as the study of the internationalization process of multinational corporations. A multinational enterprise (MNE) is a company that takes a global approach to markets, production, and/or operations in multiple countries. Well-known multinationals include fast food companies such as McDonald's (MCD), YUM and Starbucks Coffee Company (SBUX). Other major multinationals include automakers such as Ford Motor Company and General Motors (GMC). Consumer electronics manufacturers such as Samsung, LG and Sony, and energy companies such as Exxon Mobil and British Petroleum (BP) are also multinationals.
These are cross-border transactions of goods and services between two or more countries. Trading in economic resources involves capital, skills and people for the purpose of producing physical goods and services such as finance, banking, insurance and construction internationally. International business is also called globalization.
In order to do business abroad, a multinational company needs to consolidate its separate domestic markets into his one global market. There are two macroscopic factors that underscore the trend towards increasing globalization. The first is to remove barriers to facilitate cross-border trade (eg, the free movement of goods, services and capital known as “free trade”). The second is technological change, especially in communications, information processing, and transportation technology.
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