Question: PLEASE HELP!!! i will give like! I onky need tgese four questions and i know you can answer all four so if you can please



QUESTION 2 A company purchased equipment valued at $145,000. It traded in old equipment for a $61,000 trade-in allowance and the company paid $84,000 cash with the trade in. The old equipment cost $130,000 and had accumulated depreciation of $78,000. This transaction has commercial substance. What is the recorded value of the new equipment? O $61,000 $136,000 $52,000 $145,000 $84,000 QUESTION 13 Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 9238. The FICA tax for social security is 6.2% of the first $128.400 of employee earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5,4% are applied to the first $7000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1532.87. Her net pay for the month is: (Round your intermediate calculations to two decimal places.) $6564.42 $6998.42 O $6566.00 $5033.13 O $7571.18 QUESTION 15 An employee earns $5950 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 of earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7000 of an employee's pay. The employee has $200 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $168 and contributes $84 to a retirement plan each month. What is the amount the employer should record as payroll taxes expense for the employee for the month of January? O $902.93 $664.18 $499.18 $812.18 $455.18 During the first week of January, an employee works 45 hours. For this company, workers earn 150% of their regular rate for hours in excess of 40 per week. Her pay rate is $36 per hour, and her wages are subject to no deductions other than FICA Social Security, FICA Medicare, and federal income taxes. The tax rate for Social Security is 6.2% of the first $128.400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5,49. Both unemployment taxes are applied to the first $7000 of an employee's pay. The employee has $100 in federal income taxes withheld. What is the amount of this employee's net pay for the first week of January? (Round your intermediate calculations to two decimal places.) $230.82 $1710.00 $1579.19 O $1940.82 $1479.19
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
