User Account

All Pages

What would the net amount of each bonus check

Assignment Help Accounting Basics
Reference no: EM131814436

Question - Mattola Company is giving each of its employees a holiday bonus of $100 on Dec 21st (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: EM131814436

Questions Cloud

Journalize the entry to record the warranty work : Lachgar Industries warrants its products for one year. The estimated product warranty is 3% of sales. Journalize the entry to record the warranty work provided
Reduce the average waste of the residential households : The mayor and city council in a certain jurisdiction want to reduce the average waste of their residential households.
Determine the correct inventory amount on dec : Determine the correct inventory amount on Dec, Wilfred sold goods costing $34,000 to Lilja Company
Test the hypothesis that the farm holdings are producing : Department of Agriculture and Livestock Development researchers in Kenya estimate that yields in a certain district should approach the following amounts.
What would the net amount of each bonus check : 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
Negative dollar value the number must be enclosed in bracket : What are the dollar values that will appear in Alpha Dog Company's year end financial statements for the end f financial statements for the following line items
Confidence limits on the body fat percentage of males : A variety of popular health books suggest that the readers assess their health, at least in part, by estimating their percentage of body fat.
Briefly describe the new equipment purchase : Consider a new piece of equipment that your company will most likely need. Briefly describe the new equipment purchase.
Prepare the journal entry to record issuance of the stock : The land is valued at $225,000 and the building at $360,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd