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Ymorist [56]
2 years ago
4

Larren Buffett is concerned after receiving her weekly paycheck. She believes that her deductions for Social Security, Medicare,

and federal income tax withholding (FIT) may be incorrect. Larren is paid a salary of $4,100 weekly. She is married, claims 3 deductions, and prior to this payroll check, has total earnings of $128,245. What are the correct deductions for Social Security, Medicare, and FIT?
Business
1 answer:
SpyIntel [72]2 years ago
6 0

Complete question:

Larren Buffett is concerned after receiving her weekly paycheck. She believes that her deductions for Social Security, Medicare, and federal income tax withholding (FIT) may be incorrect. Larren is paid a salary of $4,100 weekly. She is married, claims 3 deductions, and prior to this payroll check, has total earnings of $128,245. What are the correct deductions for Social Security, Medicare, and FIT?Assume a rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare

Answer:

Social Security $604.19

Medicare $59.45

FIT $230.70

Explanation:

Total earning = $128,245

Weekly salary= $4,100

Social security tax = ($128,245 - $118,500) × 0.062 = $604.19

Medicare tax = $4,100 × 1.45 = $59.45

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Answer:

Cash flow generated from financing activities: 5,200,000

Explanation:

Financing activities are the cash outflow and inflow from the company's debt and equity. Take and repayment of debt, interest on debt and dividend yield will be included in this section:

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Dividends paid on Gorky common stock                (800,000)

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2 years ago
John has a faulty HVAC damper in his cooperative apartment. Where should John look to determine if he, or the cooperative, is re
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Answer:

Cooperative house rules.

Explanation:

Cooperative house rules are a set of rules made to run the cooperative building efficiently and maintain the standard and quality of living in those buildings. These rules are less technical than those rules that are set by laws and are set by the chief and important members of the cooperative buildings. These help in an easy understanding of various responsibilities that are assigned to the people residing in the cooperative apartments and also for the cooperative members. Thus, John must go through the cooperative rules to determine that who is responsible to look after the faulty HVAC damper in the cooperative apartment.

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2 years ago
Which of the following statements about the capital asset pricing model (CAPM), which is the "father" of the security market lin
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Answer:

(d) All of the above responses are correct

Explanation:

The Capital asset pricing model (CAPM) helps in calculation of expected rate of return by an investor which is dependent upon risk premium and beta.

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Risk premium refers to the additional rate of return which an investor must be provided so as to compensate him for additional risk he assumes.

ER = Rf + β (Rm- Rf)

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The following can be checked:

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2 years ago
ACE Electronics introduces a new voice-activated personal computer that no longer requires a keyboard. ACE charges the high pric
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C) competition

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