Open Question: What would the net pay be? – Yahoo Answers: Business & Finance

 Phil Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,488. The FICA tax for social security is 6.2% and the FICA tax rate for Medicare is 1.45%. The FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee’s pay. The amount of federal income tax withheld from his earnings was $1,408.37. His net pay for the month is: (Round your intermediate calculations to two decimal places):$6,566.00$5,996.29$6,430.29$5,157.63$6,956.55” title=”Yahoo Answers: Business & Finance” rel=”Dofollow” target=”_blank”>Yahoo Answers: Business & FinanceOpen Question: Phildell Phoenix is paid monthly. For the… October 29, 2013 Phildell Phoenix is paid monthly. For the month of January of the current year, he earned gross pay of $8,288. FICA tax for Social Security is 6.2% and the FICA tax for Medicare is 1.45%. The amount of federal income tax withheld from his earnings was $1,375.17. Phildell contributes $125 of his monthly pay to a retirement plan and has $25 of union dues deducted from his monthly pay. what his net pay? Open Question:…Open Question: ACCOUNTING HELP!!! I NEED HELP IN ACCOUNTING… October 8, 2013 Polo Company has 10 employees, each of whom earns $3,000 per month and is paid on the last day of each month. All 10 have been employed continuously at this amount since January 1. Polo uses a payroll bank account and special payroll checks to pay its employees. On March 1, the following accounts and balances exist in its general ledger: a. FICA — Social Security Taxes Payable, $3,720; FICA — Medicare Taxes Payable, $870.…Open Question: Accounting 2 question? – Yahoo! Answers:… September 18, 2013 A company with 24 employees, paid on monthly basis. In the past month, earnings were $78,000 of which $27,000 is subject to employment taxes. FUTA rate is .8% and SUTA is 5.4% Federal income taxes are withheld at a rate of 20% of total earnings. All earnings are subject to FICA taxes of 8% 1. What is employers total payroll taxes expense for the month? 2. What is employees net pay? 3. What is company’s…Open Question: Current Liabilities. Accounting help ASAP?… November 24, 2013 MRI Company has one employee. FICA Social Security taxes are 6.2% of the first $106,800 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For MRI, its FUTA taxes are 0.8% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. Gross Pay through August Gross Pay for September a. $ 6,400 $800 b. 18,200 2,100 c. 100,500 8,000 Required: 1. Compute MRI’s amounts for each of the…Open Question: Finance Help….I am having a really tough… October 13, 2013 1. What is the value of a perpetuity that pays $100 every 6 months forever? The discount rate quoted on an APR basis is 5%. 2. a. If you take out an $7,000 car loan that calls for 60 monthly payments starting after 1 month at an APR of 12%, what is your monthly payment? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Monthly payment$ b. What is the effective annual…Open Question: can someone help me witha few accounting… December 8, 2013 1. Journalize the following, assuming a 360-day year is used for interest calculations: Apr. 30Issued a $150,000, 30-day, 6% note dated April 30 to Misner Co. on account. May 30Paid Misner Co. the amount owed on the note dated April 30. 2. Aqua Construction installs swimming pools. They calculate that warranty obligations are 5% of gross sales. For the year just ending Aqua’s gross sales were $1,500,000. Due to previous quarter recognitions, the Warranty Liability…Open Question: Need Accounting homework help please!? –… November 26, 2013 1. Employers are required to pay all of the following on the wages paid to each employee except: a. Social security taxes b. Worker’s compensation insurance c. Medicare taxes d. Health insurance benefits. 2. The amount of the present value of a future cash receipt will depend upon a. The length of time until the money is received. b. The amount of money to be received. c. The required rate of return. d. All of…Open Question: Accounting Help, please.? – Yahoo Answers:… November 24, 2013 The following payroll liability accounts are included in the ledger of Devito Company on January 1, 2014: FICA Taxes Payable $1,750 Federal Income Taxes Payable 4,000 State Income Taxes Payable 665 Federal Unemployment Taxes Payable 175 State Unemployment Taxes Payable 1,190 Union Dues Payable 400 Health Insurance Payable 5,000 U.S. Savings Bonds Payable 1,500 In January, the following transactions occurred: Jan. 9 Sent a check for $5,000 to Blue Cross and Blue Shield. 11 Deposited…Open Question: Given the following, what is the amount of… December 4, 2013 According to a payroll register summary of Frederickson Company, the amount of employees’ gross pay in December was $850,000, of which $80,000 was not subject to FICA tax and $750,000 was not subject to state and federal unemployment taxes. Assume FICA rate of 7.65%, State unemployment 5.4% and federal unemployment 0.8%. Round answer to 0 decimal places, e.g. 125. December 04, 2013 at 06:56AM Yahoo Answers: Business & Finance – Open Question: Given the following,…Open Question: How to computer the FICA withholdings? –… November 22, 2013 Your answer is partially correct. Try again. Employee earnings records for Cornelius Company reveal the following gross earnings for four employees through the pay period of December 15. J. Glozelle$87,600L. Schooler$96,700 R. Jen$96,800T. Crier$104,500 For the pay period ending December 31, each employee’s gross earnings is $4,500. The FICA tax rate is 8% on gross earnings of $100,000. Compute the FICA withholdings that should be made for each employee for the December 31 pay period.…Open Question: Need help on this accounting problem? –… November 21, 2013 I got A right, B mostly right, except the employer’s payroll taxes part, but I really need help with C. How do you find the Sales Taxes Payable, FICA Taxes Payable, and Unearned Service Revenue? On January 1, 2012, the ledger of Kindt Company contained these liability accounts. Accounts Payable $61,880 Sales Taxes Payable 7,970 Unearned Service Revenue 28,100 During January, the following selected transactions occurred. Jan. 1 Borrowed $16,080 in cash from Premier Bank…Open Question: Federal Taxes 1 Homework quick question help… December 7, 2013 Jessica is employed by a major defense contractor and earns $156,000 in 2012. Calculate A) The amount of Social Security tax withheld from his income. B) The amount of Medicare tax withheld from his income. C) The amount of FUTA withheld from his income. Can someone help me please with taxes question? I would appreciated it a lot. Thanks December 07, 2013 at 05:26PM Yahoo Answers: Business & Finance – Open Question: Federal Taxes 1…Open Question: Account problem that I need a little help on? November 21, 2013 I got A right, B mostly right, except the employer’s payroll taxes part, but I really need help with C. How do you find the Sales Taxes Payable, FICA Taxes Payable, and Unearned Service Revenue? On January 1, 2012, the ledger of Kindt Company contained these liability accounts. Accounts Payable$61,880 Sales Taxes Payable7,970 Unearned Service Revenue28,100 During January, the following selected transactions occurred. Jan. 1Borrowed $16,080 in cash from Premier Bank on a 4-month, 5%,…Open Question: State Mill Company, whose fiscal year ends… September 27, 2013 State Mill Company, whose fiscal year ends December 31, completed the following transactions involving notes payable: 2010 Nov. 25 Purchased a new loading cart by issuing a 60-day 10 percent note for $86,400. Dec. 31 Made the end-of-year adjusting entry to accrue interest expense. 2011 Jan. 24 Paid off the loading cart note. Required Prepare entries in journal form for State Mill Company’s notes payable transactions. When notes payable appears on the balance sheet, what…Open Question: Payroll taxes paid by employees include which November 17, 2013 A) Federal income tax, federal unemployment tax, and Medicare. B) Social security tax, federal unemployment tax, and state unemployment tax. C) FICA taxes, federal unemployment tax, and state unemployment tax. D) Federal income tax, state income tax, and Medicare. November 17, 2013 at 03:17AM Yahoo Answers: Business & Finance – Open Question: Payroll taxes paid by employees include which of the following?Open Question: Payroll taxes paid by employees include which of the following?Yahoo Answers: Business…Open Question: Need help to adjust and journalize these… December 1, 2013 Cash…….$8,850 A/R……….29,900 Allowance for Bad Debts…………$268 Inventory..34,855 Office supplies…1,000 A/P……………………………..… 19,700 Wages Payable……………………..3,200 Taxes Payable………………………4,500 Common Stock (10,000 shares) 25,000 Retained Earnings………………….21,937 Total $74,605 $74,605 periodic FIFO inventory method for YO-660 Layer/ Units /Price per Unit / Total Price 1 / 60 / $150 / $9,000 2 / 70 / 155 / 10,850 3 / 65 / 157 / 10,205 4 /30 /160 / 4,800 total 225 / $34,855 *The company uses the % of…Open Question: Urgent Gross income/AGI/taxable income/FICA… October 17, 2013 Hi, While I feel as this particular problem is rather easy to solve, it’d be easy to screw up as I’m used to having programs do this for me (I know, I know). My textbook is looseleaf and the relevant pages are conveniently missing. “Mike is the head of a household and is responsible for a parent and 2 children. He made $250,000 in income, had $13,000 in interest income, made a $12,000 contribution to…Open Question: assistance with accounting question, please?… November 20, 2013 Elite Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $484,000 cost with an expected four-year life and a $16,200 salvage value. All sales are for cash, and all costs are out of pocket except for depreciation on the new machine. Additional information includes the following. (Use Table B.1) Expected annual sales of new product $ 1,940,000 Expected annual…Open Question: Profitability Index Help!? – Yahoo Answers: December 8, 2013 Year Cash Flow 0 –$ 14,000 1 7,300 2 6,900 3 5,700 What is the profitability index for the set of cash flows if the relevant discount rate is 10 percent? (Do not round intermediate calculations and round your final answer to 3 decimal places. (e.g., 32.161)) What is the profitability index for the set of cash flows if the relevant discount rate is 15 percent? (Do not round intermediate calculations and round your final…Open Question: Tax refund for a teen? – Yahoo Answers:… December 4, 2013 I am 17 years old and I started working in May of this year (2013). I believed I am marked dependent on my parents taxes. I live in Illinois. I know I will not get back FICA, or Medicare. Will i get back state and federal? or just federal? So far this year (since the end of may) I have made.. $4,270.47 before taxes $3,498.69 after taxes Taxes taken out: Federal Tax: $ 231.53 FICA:…