« previous next »

Author Question: The required deduction for Social Security is 6.2 OASDI (Old Age Survivors and Disability Insurance) ... (Read 129 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?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Play provides these preschoolers with the ability to interact with one another, and develop their ph Play provides these preschoolers with the ability to interact with one another, and develop their ph
Behavioral and Social-Cognitive Approaches to Personality Behavioral and Social-Cognitive Approaches to Personality
Behavior modification has been useful in raising the amount of social responding by children with ... Behavior modification has been useful in raising the amount of social responding by children with ...
When a Tornado Strikes: Social Organization Following a Natural Disaster When a Tornado Strikes: Social Organization Following a Natural Disaster
When a Tornado Strikes: Social Organization Following a Natural Disaster When a Tornado Strikes: Social Organization Following a Natural Disaster
Social Networks Social Networks
Video: Regulation of GFR: autoregulation via myogenic mechanism Myogenic mechanism

For a complete list of videos, visit our video library