What is the net amount to be paid to the employee

Assignment Help Finance Basics
Reference no: EM13265813

An employee receives an hourly rate of $27, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid to the employee?

Reference no: EM13265813

Questions Cloud

State the formulas relating frequency and wavelength : Write down the formulas relating (a) frequency and wavelength, (b) Wavelength and momentum, and (c) energy and frequency of a photon.
Calculate the annual depreciation allowances : A piece of newly purchased industrial equipment costs $970,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment.
What is the speed of the textbook : You drop a 1.5 kg textbook to a friend who stands on the ground 10 m below the textbook with outstretched hands 1.50 m above the ground. What is the speed of the textbook when it reaches the hands? m/s
What is the total real power and reactive power produced : A three-phase generator is producing power for a balanced load. Each phase provides a voltage of 690 V and a current of 1000 A. The angle between the voltage and current in each phase is 20°. What is the total real power and reactive power produce..
What is the net amount to be paid to the employee : An employee receives an hourly rate of $27, with time and a half for all hours worked in excess of 40 during a week.
What is the last color seen : As a soap bubble (n = 1.33) evaporates and thins, thereflected colors gradually disappear. What is the last color seen
What is the discounted payback period : An investment project has annual cash inflows of $3,800, $4,700, $5,900, and $5,100, and a discount rate of 14 percent. What is the discounted payback period for these cash flows if the initial cost is $6,500?
Find what is the binary and decimal value of c : Assume you are performing 2's complement arithmetic in a computer with 8-bit registers. After the following code is run, signed char a = -17, b = 120, c; c = a - b; What is the binary and decimal value of c
What is the cross-rate in terms of yen per pound : Assume that U.S. six-month Treasury bills have an annualized rate of 6.2% while default-free Japanese bonds that mature in six months have an annualized rate of 5.0% and that interest rate parity holds.

Reviews

Write a Review

Finance Basics Questions & Answers

  Explain after tax cost of debt and preference stock

Explain After tax Cost of debt and preference stock and analysis calculate and explain the after-tax cost of preferred stock for a company

  Computing the value of the investment using capital asset

Computing the value of the investment using capital asset prising model and how much should you invest in the risk-free asset

  Determine the financial impact of presentation

Explain a transaction or set of transactions affecting a firm you have worked for or that you are aware of that could arguably be presented in more than one way in financial statements.

  What is the mid-rate for each maturity

Use the following spot and forward bid-ask rates for the JPY/USD exchange rate to answer the following questions.

  Calculate the the initial cash flow amount

Marshall's & Corporation bought a corner lot in Eglon City five years ago at a cost of $640,000. The lot was recently appraised at $810,000.

  What is the wacc

If the company's proxy for retained earnings is calculated at 15%, with a 50/50 debt to equity split in capital structure, what is the WACC?

  What is the project''s discounted payback period

Roswell Energy Company is installing new equipment at a cost of $10 million. Expected cash flows from this project over the next five years will be $1,045,000, $2,550,000, $4,125,000, $6,326,750, and $7,000,000.

  The weighted average cost of capital

Assume perfect market conditions; that is, no taxes, transaction costs, information or bankruptcy costs, etc. Consider two firms U and L that are identical in every way but in the way they are financed.

  Computation of bond''s nominal yield to maturity

Computation of bond's nominal yield to maturity and their nominal yield to call and what return should investors expect to earn on this bond

  Book value of this equipment at the end of year

Which one of the following will correctly give you the book value of this equipment at the end of year 2

  Define quantitative research

Define quantitative research and when do we use quantitative approach and what is the advantages and disadvantages when using a quantitative research?

  Estimate of the companys cost of equity

If the stock sells for $39 per share, what is your best estimate of the company's cost of equity?

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