« previous next »

Author Question: The required deduction for Social Security is 6.2 OASDI (Old Age Survivors and Disability Insurance) ... (Read 128 times)

shofmannx20

  • Hero Member
  • *****
  • Posts: 562
on: Jun 24, 2018
The required deduction for Social Security is 6.2 OASDI (Old Age Survivors and Disability Insurance) of wages earned, to a maximum of 97,500 and 1.45 HI (Hospital Insurance, commonly known as Medicare) for all earnings. Eric Garcia's cumulative wages for the year not including the current pay period total 95,100 . Calculate the amount of Social Security and Medicare to be withheld from Garcia's current gross pay of 3,980.

Question 2

Marge Brown bought 200 shares of Kenworth 50 par 7 preferred stock at the current market price of 58 per share. What is her rate of yield if Kenworth pays the regular dividend for the year?


dellikani2015

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 24, 2018
Answer to Question 1

206.51 (97,500 - 95,100 = 2,400 . 2,400  0.062 = 148.80) + (3,980  0.0145 = 57.71)

Answer to Question 2

6.03


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

shofmannx20

  • Hero Member
  • *****
  • Posts: 562
Reply #2 on: Jun 24, 2018
Thank you


dellikani2015

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 24, 2018
No problemo


« previous next »
 

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Social and Environmental Effects of Tourism in the Andaman Islands Social and Environmental Effects of Tourism in the Andaman Islands
Shy children often have a high arousal level in novel social situations. Over time, parents can help ... Shy children often have a high arousal level in novel social situations. Over time, parents can help ...
Vienna: Social Structure and Social Interaction Vienna: Social Structure and Social Interaction
When a Tornado Strikes: Social Organization Following a Natural Disaster When a Tornado Strikes: Social Organization Following a Natural Disaster
The social movement that centers on the environment has become global. In all nations, people are ... The social movement that centers on the environment has become global. In all nations, people are ...
Social scientists have not done well at devising theories to explain lovely romantic moments Social scientists have not done well at devising theories to explain lovely romantic moments
Video: Nervous pathway to the Neuromuscular (NMJ)

For a complete list of videos, visit our video library