Author Question: In December, 2010, Bob Cratchit worked for Scrooge & Marley and earned 1,000. Federal income tax ... (Read 134 times)

jazziefee

  • Hero Member
  • *****
  • Posts: 505
In December, 2010, Bob Cratchit worked for Scrooge & Marley and earned 1,000. Federal income tax withholding is 10. The FICA rate is 6.2 and the Medicare tax is 1.45.
 
  How much cash will Scrooge & Marley pay the government for FICA because of Bob's December earnings?
  A) 62.00
  B) 124.00
  C) 14.50
  D) 29.00

Question 2

Self-employment income is the gross income of a trade or business run by an individual.
 a. True
   b. False
   Indicate whether the statement is true or false



mirabriestensky

  • Sr. Member
  • ****
  • Posts: 325
Answer to Question 1

B

Answer to Question 2

False



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

For a complete list of videos, visit our video library