« previous next »

Author Question: The required deduction for Social Security is 6.2 OASDI (Old Age Survivors and Disability Insurance) ... (Read 246 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?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

A taxonomy of primate social systems. Larger symbols indicate adults. A taxonomy of primate social systems. Larger symbols indicate adults.
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
Religion can promote social change, as was evident in the U.S. civil rights movement. Dr. Martin ... Religion can promote social change, as was evident in the U.S. civil rights movement. Dr. Martin ...
Twenty percent of the automobiles inspected at a state inspection station required repairs to ... Twenty percent of the automobiles inspected at a state inspection station required repairs to ...
Social Learning in Lobsters Social Learning in Lobsters
Video: What is Cholesterols? Introduction to Lipoproteins

For a complete list of videos, visit our video library