Harrison Company's general ledger account had a balance of $7,300 on July 31 and the following information is also available: Deposits outsanding $ 1,500 Checks outstanding 2,000 NSF checks 45 A $35 July deposit from a customer was recorded as $53 debit to Cash and credit to Accounts Receivable What is the amount of Harrison's correctd cash balance at July 31

Answers

Answer 1

Answer:

See below

Explanation:

The above is an incomplete question. However, the below is a similar question to complement it.

Balance July 1, $55,678

Deposits $179,500

Checks processed ($192,610)

Service charges ($30)

NSF checks ($1,200)

Monthly loan repayment deducted directly by the banks from account includes ($320) in interest. ($3,320)

With regards to the above, the corrected cash balance is computer as;

Balance per books

$7,300

Less:

Error in recording receipts ($53 - $35)

($18)

Less;

NSF charges

($1,200)

Less:

Automatic monthly loan payment

($3,320)

Less:

Service charge

($30)

Corrected cash balance

$2,732


Related Questions

Lanson Corporation Co.'s trial balance included the following account balances at December 31, 2021: Accounts payable $ 25,000 Bonds payable, due 2030 22,000 Salaries payable 16,000 Notes payable, due 2022 20,000 Notes payable, due 2026 40,000 What amount should be included in the current liabilities section of Lanson’s December 31, 2021, balance sheet?

Answers

Answer:

$61,000

Explanation:

Calculation for What amount should be included in the current liabilities section of Lanson’s December 31, 2021, balance sheet

Accounts payable $ 25,000

Add Salaries payable $16,000

Add Notes payable, due 2022 $20,000

December 31, 2021 Current liabilities section $61,000

($25,000+$16,000+$20,000)

Therefore the amount that should be included in the current liabilities section of Lanson’s December 31, 2021, balance sheet will be $61,000

After marketers have defined a problem they need to solve, what is the next
step in the marketing research process?
A. Analyze the situation.
B. Write a survey.
C. Create a database.
D. Collect data.

Answers

After marketers have defined a problem they need to solve, Analyze the situation is the next step in the marketing research process. The appropriate response is option A.

What is marketing research process?

The goal of the marketing research process is to gather information about your target market's attitudes and opinions so you can evaluate your current goods and services or test ideas for making them better. Additionally, it can measure how customers view your business.

Market research gives you vital knowledge about your industry and competitive environment. It can inform you of how the target clients and customers you want to reach view your business.

An in-depth evaluation of a market within a particular industry is what is known as a market analysis.

Hence, the appropriate response is option A.

To learn more about marketing research process

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One year ago, Deltona Motor Parts deposited $17,500 in an investment account for the purpose of buying new equipment three years from today. Today, it is adding another $21,000 to this account. The company plans on making a final deposit of $13,000 to the account one year from today. How much will be available when it is ready to buy the equipment, assuming the account pays 5.5 interest

Answers

Answer:

$58,445.13

Explanation:

Calculation for How much will be available when it is ready to buy the equipment, assuming the account pays 5.5 interest

Using this formula

FV= PV*(1+i)^n

Let plug in the formula

First deposit= 17,500*(1.055^4)

First deposit= $19,316.73

Second deposit=21 ,000*(1.055^3)

Second deposit= $24,659.07

Third deposit= 13,000*(1.055^2)=

Third deposit=$14,469.33

Total= $58,445.13

Therefore How much will be available when it is ready to buy the equipment, assuming the account pays 5.5 interest is $58,445.13

An unacceptable treatment for the presentation of current liabilities is: A : Listing current liabilities according to amount. B : Showing current liabilities immediately below current assets to obtain a presentation of working capital. C : Offsetting current liabilities against assets that are to be applied to their liquidation. D : Listing current liabilities in order of maturity.

Answers

Answer:

The answer is c!

Explanation:

For the backpack buyer, note the importance of each of the five main characteristics under PREFERENCES and consider each in terms of the five steps. Why are CAPACITY and WATERPROOF the most influential preferences in buyer behavior for the Outdoor Enthusiast?

Answers

Answer:

Outdoor enthusiasts love to spend time in nature. One of the ways they do so is by traveling, hiking, cycling, etc. Many times they need to carry equipment that's heavy and are exposed to all manner of weather elements such as fog, rain, heat, etc.

So if the bag cannot contain many items, it's usually a put-off for them. Also, any outdoor person would want their personal items to remain dry regardless of the weather.

This is the reason why for them, both Capacity and Waterproof scores as high as 83% amongst the other factors that influence their demand for a backpack.

Cheers

Outdoor Enthusiasts can consider a large backpack—one that can handle the elements—since they are likely hiking or camping for more than a day.

What are the outdoor enthusiasts ?

The outdoor enthusiast is those who like to travel outside their country and loves recreation. They take part in various activities like sports, music, outdoor adventure sports like Bungy rope, scuba diving and thus take on with themselves a backpack that consists of all stuff that is required for the adventurous destination. Their backpacks include all-weather camping gear and emergency equipment.

Find out more information about the backpack buyer.

brainly.com/question/13763238.

Dioxin emission that results from the production of paper is a good example of a negative externality because a. self-interested paper producers will not consider the full cost of the dioxin pollution they create. b. self-interested paper firms are generally unaware of environmental regulations. c. toxic emissions cause firms to produce less than the socially optimal amount of paper. d. there are fines for producing too much dioxin.

Answers

Answer:

a. self-interested paper producers will not consider the full cost of the dioxin pollution they create.

Explanation:

Externality basically causes the market to produce a large amount or little amount of goods and service, thereby causing an inefficient distribution or allocation of resources.

Therefore, when the manufacturing or consumption of a particular product by the consumers leads to an additional cost for a third party, it is known as negative externality.

Hence, Dioxin emission that results from the production of paper is a good example of a negative externality because self-interested paper producers will not consider the full cost of the dioxin pollution they create.

Diaz Company owns a machine that cost $126,500 and has accumulated depreciation of $91,600. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. Diaz sold the machine for $15,500 cash. Diaz sold the machine for $34,900 cash. Diaz sold the machine for $40,400 cash.

Answers

Answer:

S/n      Account Titles and Explanation                    Debit      Credit

1.         Accumulated Dep - Machine Equipment    $91,600  

           Loss on Disposal                                          $34,900

                        Machine Equipment                                          $126,500

           (To record disposal)

2.         Cash                                                             $17,500  

           Accumulated Dep - Machine Equipment   $91,600  

           Loss on sale/disposal                                  $17,400

                    Machine Equipment                                               $126,500

            (To record sale)  

3          Cash                                                            $34,900

           Accumulated Dep - Machine Equipment  $91,600

                     Machine Equipment                                              $126,500

           (To record sale)

4         Cash                                                              $40,400

          Accumulated Dep - Machine Equipment   $91,600

                     Gain on sale/disposal                                           $5,500

                     Machine Equipment                                              $126,500

          (To record sale)

Bob manages a cafe. He pays $50,000 for labor and $7,000 for space rental every month. He chose the current space and gave up another site which costs $8,000/month. Bob also refused an acquistion proposal of $600,000 raised by a restaurant. The proposal plans to close down the cafe. What is the opportunity cost in this case

Answers

Answer:

$600,000

Explanation:

Opportunity  cost also known as implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

the next best option to Bob is to sell the cafe. If he did, he would have earned $600,000. This is his opportunity cost.

$50,000 constitutes a variable cost while $7000 is a fixed cost.

Fixed costs are costs that do not vary with output. e,g, rent, mortgage payments

If production is zero or if production is a million, Rent payments do not change - it remains the same no matter the level of output.  

Variable costs are costs that vary with production

If a producer decides not to produce any output, there would be no need to hire labour and thus no need to pay hourly wages.  

Your boss on the West Coast says he needs your updated spreadsheet by 5:00 on Friday. You assume he means Pacific time, but you are working in Washington, DC. You submit your updates at 6:00 Eastern time and consider yourself two hours within the deadline. When you arrive at work on Monday morning, there is a scathing e-mail in your inbox. It turns out your boss, knowing you were in Washington, DC, was translating time for you and meant 5:00 Eastern time. This misunderstanding happened because your boss used

Answers

Answer:

equivocal terms.

Explanation:

Since in the question it is mentioned that your boss needs the updated sheet by 5:00 on friday but you presume that it means the pacific time and according to this you submit the updated at 6:00 but at the morning morning there would be a scathing email so this misunderstanding would be occured due to equivocal terms as it deals with the multiple meanings

If real GDP grew by 6 percent and population grew by 2 percent, then real GDP per person grew by approximately ______ percent.

Answers

Answer:

3%

Explanation:

Real GDP per person is a measure of the economic wellbeing of the populace of a country.

Real GDP per person = Real GDP / population

6% / 2% = 3%

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.

When determining whether you NEED to file a federal tax return, each of these questions matters EXCEPT...
1.What state do you live in?

2.How much income did you earn this year?
3.What type of income did you earn this year?
4.Are you claimed as a dependent on anyone else's tax return?

Answers

The answer would be 3
:)

A- The state you live in should not hold importance when filing the income tax return. The all other options are required to be filed as they are important to determine the tax slabs and deductions a person may get.

Suppose two persons earn exactly same income in a particular year and both the people belong to a different state, in such case both the person will be liable for equal taxation.

While filing an income tax return, there are various things that need to be disclosed so as to determine what tax slabs a person belongs to and what are the deduction he may avail.

The amount of income, the nature of income like income from salary/business or profession/house property/other sources and whether such person is taxable or not due to dependency on others needs disclosed.

To conclude it doesn't matter which state a person belongs for the taxability of such person while filing an income tax return.

Hence, the correct option is A that the the residency of state of such person will not matter for the purpose of filing his tax return.

To know more about tax returns, refer the link below.

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Pretend you are a project manager employed by a General Contracting firm. Your company is currently serving as a Construction Management at Risk for a project and is requiring all vendors, material suppliers and subcontractors to submit digital design files. Provide 3 strategies you may implement to facilitate interoperability issues. Provide detailed descriptions of each strategy and explain why

Answers

Answer:

Three strategies for facilitating interoperability as a Risk Construction Manager are:

1. I'll carry out compatibility tests

2. Ensure that the engineering products used have a common standard and have a common technology

3. Use a system of interaction with common technology and coding language

Explanation:

The ability for a system with various different components to achieve harmony to the end that those different components are able to work together without any hindrances is called Interoperability.

Compatibility checking, using engineering products with a shared specification and using the same hardware, programming language across multiple platforms, if necessary, are aimed at enhancing or achieving interoperability.

Cheers

The current spot exchange rate is $1.55/€ and the three-month forward rate is $1.50/€. Based on your analysis of the exchange rate, you are confident that the spot exchange rate will be $1.52/€ in three months. Assume that you would like to buy or sell €1,000,000. What actions do you need to take to speculate in the forward market? Group of answer choices Sell euro today at the spot rate, buy them forward. Take a long position in a forward contract on €1,000,000 at $1.50/€. Buy euro today at the spot rate, sell them forward. Take a short position in a forward contract on €1,000,000 at $1.50/€.

Answers

Answer:

The answer is "Take a long position in a forward contract on €1,000,000 at $1.50/€".

Explanation:

In the long position cause the purchasing of the money, and it will be paying: [tex](1.5 \times 1,000,000) = \$ 1,500,000[/tex]

And you're also planning to sell and get on the markets: [tex](1.52 \times 1,000) = \$ 1,520,000.[/tex]

Therefore, you'll get: [tex]\$1,520,000 - \$1,500,000 = \$20,000.[/tex]

The dean of a school of business is forecasting total student enrollment for this year's summer session classes based on the following historical data: Year Enrollment Four years ago 2000 Three years ago 2200 Two years ago 2800 Last year 3000 What is this year's forecast using the least squares trend line for these data

Answers

Answer:

I used an Excel spreadsheet to calculate R² which gives us the least squares trend. See attached image.

y = 360x + 1600

R² = 0,9529

next year's enrollment should be = (360 x 5) + 1600 = 3400

4-55 A firm expects to install smog control equipment on the exhaust of a gasoline engine. The local smog control district has agreed to pay to the firm a lump sum of money to provide for the first cost of the equipment and maintenance during its 10-year useful life. At the end of 10 years the equipment, which initially cost $10,000, is valueless. The firm and the smog control district have agreed that the following are reasonable estimates of the end-of-year maintenance costs: Year 1 2 3 4 5 $75 100 125 150 175 Year 6 7 8 9 10 $200 225 250 275 300 Assuming interest at 6% per year, how much should the smog control district pay to the firm now to provide for the first cost of the equipment and its maintenance for 10 years

Answers

Answer:

the  amount that should be paid is $11,292

Explanation:

The computation of the amount that should be paid is shown below:

Present worth is

= $10,000 + $75(P/A, 6%, 10) + $25(P/G, 6%, 10)

= $10,000 + $75 × 7.3601 + $25 × 29.6023

= $11,292

Hence, the  amount that should be paid is $11,292

We simply applied the above calculation

If a company is considering the purchase of a parcel of land that was originally acquired by the seller for $98,000 is currently offered for sale at $176,000, is considered by the purchaser as easily being worth $166,000, and is finally purchased for $163,000, the land should be recorded in the purchaser's books at:

Answers

Answer:

$163,000

Explanation:

Based on the information given in a situation where the company is considering the purchase of a land which means that if the parcel of land was finally purchased for the amount of $163,000 the amount in which the land should be recorded in the purchaser's books will be the amount of $163,000 which was the amount that was finally used to Purchased the land.

Therefore the land should be recorded in the purchaser's books at:$163,000

An investment, which has an expected return of 5.9%, is expected to make annual cash flows forever. The first annual cash flow is expected in 1 year and all subsequent annual cash flows are expected to grow at a constant rate of 2.5% per year. We know that the cash flow expected in 1 year from today is expected to be $4,500. What is the present value (as of today) of the cash flow that is expected to be made in 3 years from today

Answers

Answer:

$3,980.82

Explanation:

Rate per annum = 5.9%

Number of years = 3

No of compounding per annum = 1

Rate per period = 5.9%

Number of period = 3

Future value = 4500*(1+0.025)^2 = $4727.81

PV of 3 years cashflow = Fv * [1/[(1+r)^n]]

PV of 3 years cashflow = $4727.81 * [ 1 / (1+5.9%)^3]

PV of 3 years cashflow = $4727.81 * [1 / 1.059^3]

PV of 3 years cashflow = $4727.81 * 1/1.187648379

PV of 3 years cashflow = $4727.81 * 0.842000057

PV of 3 years cashflow = $3980.81628948517

PV of 3 years cashflow = $3,980.82

MacKenzie Company sold $420 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 5.0% service charge for sales on its credit cards. MacKenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record this sale transaction would be: Multiple Choice

Answers

Answer:

See below

Explanation:

Credit card expense = 5% of sales value $420 = $21

has assets with a market value of $100 million, $10 million of which are cash. has debt of $40 million, and 10 million shares outstanding. Suppose that distributes $10 million as a dividend. Assuming perfect capital markets, what will new market debt-equity ratio be after the dividend is paid

Answers

Answer:

See below

Explanation:

First, we need to calculate new stock price.

Current stock price = (Assets market value - debt) / Number of shares outstanding.

= (100 - 40)/10

= $6

Assets value after dividend distribution = 100 - 10

= 90

Number of shares purchased = 10/6 = 1.667 million shares

New stock price = (90 - 40)/(10 - 1.667)

= $7.20

Debt equity ratio = Debt / Equity

Equity = Stock price × number of shares

= $ (7.20 × (10 - 1.667)

= $ (7.2 × 8.33)

= $60

Debt = 40

Debt equity = 40/60 = 0.667 times

U.S. Treasury bills are available for purchase this week at the following prices (based upon $100 par value) and with the indicated maturity: $97.75, 182 days. (1) Calculate the bank discount rate (DR) on this bill if it is held to maturity. (2) What is the equivalent yield to maturity (sometimes called the bond-equivalent or coupon equivalent yield) on this Treasury bill

Answers

Answer and Explanation:

The computation is shown below:

Given that,

Price = $97.75

Time = 182 days

Face value = $100

Based on the above information  

1) bank discount rate is  

= (Face value - price) ÷ Face value × 365 / Time

= ($100 - $97.75) ÷ 100 × (365 / 182)

= 0.0225 × 2.005494

= 0.0451 (or) 4.51%

2) equivalent yield to maturity

= (Face value ÷ price)^365 ÷ Time - 1

= ($100 ÷ $97.75)^365 ÷ 182 -1

= 0.04669 (or) 4.66%

A key feature of business is that it facilitates an exchange of

Answers

An “Exchange Value “

Answer:

type ''value''

Explanation:

i took the test

You want to receive $5000 per month for 20 years in real dollars in an account when you retire in 35 years. The first monthly payment to be received 1 month after you retire. The nominal return on your investment is 9.94 percent and the inflation rate is 3.2 percent. What is the real amount you must deposit each year for 35 years to achieve your goal

Answers

Answer:

The real amount you must deposit each year for 35 years to achieve your goal is $5,359.02

Explanation:

To calculate the real amount we need to calculate the real interest rate as follow

1 + Nominal rate = ( 1 + Real rate ) x ( 1 + Inflation rate )

1 + 9.94% = ( 1 + Real rate ) x ( 1 + 3.2% )

1.0994 = ( 1 + Real rate ) x 1.032

1 + Real rate = 1.0994 / 1.032

1 + Real rate = 1.06531

Real rate = 1.06531 - 1

Real rate = 0.06531

Real rate = 6.531% = 6.53%

We need to calculate the PV of the payment that should be received.

Use the following formula to calculate the present value

PV of Annuity = Annuity payment x ( 1 - ( 1 + Interest rate )^-numbers of annuity payments ) / Interest rate

Where

Annuity Payment = $5,000 per month

Interest rate = 6.53% / 12 = 0.5442%

Numbers pf annuity payments = 20 years  x 12  payments per year = 240 payment

PLacing values in the formula

PV of Annuity = $5,000 x ( 1 - ( 1 + 0.5442% )^-240 ) / 0.5442%

PV of Annuity = $5,000 x 133.80362

PV of Annuity = $669,018.09

Now calculate the amount of deposit required to receive the payment after retirement.

Use the following formula to calculate the real deposit

Future value of annuity = Annuity Payment x ( 1 + Interest rate )^numbers of annuity payments - 1 ) / Interest rate

Where

Future value of annuity = $669,018.09

Interst rate = 6.53%

Numbers of annuity payment = 35 years x 1 payment per year = 35 payments

Annuity payment = Real amount of deposit = ?

Placing values in the formula

$669,018.09 = Real amount of deposit x ( 1 + 6.53% )^35 - 1 ) / 6.53%

$669,018.09 = Real amount of deposit x 124.83967

Real amount of deposit = $669,018.09 / 124.83967

Real amount of deposit = $5,359.02

What is the present value of the following set of cash flows, discounted at 15% per year? Year 1 2 3 4 Cash flow $100 -$100 $200 -$200

Answers

Answer:

$28.51

Explanation:

The computation of the present value of the following cash flows is as follows;

Present value factor = 1 ÷ (1 + rate of interest)^number of years

Now the present value is  

= $100 × present value factor of year 1 - $100 × present value factor of year 2 + $200 × present value factor of year 3 - $200 × present value factor of year 4

= $100 × 0.8696 - $100 × 0.7561 + $200 × 0.6575 - $200 × 0.5717

= $86.96 - $75.61 + $131.5 - $114.34

= $28.51

Calculate the selling price per unit charged by the outside supplier that would make ABC Company economically indifferent between making and buying the part. Enter your answer with two places after the decimal point (i.e., 78.90).

Answers

Question Completion:

ABC Company makes 40,000 units per year of a part it uses in the products it manufactures. The per unit product cost of this part is shown below:

Direct materials = $15.30

Direct labor =         27.40

Variable overhead   2.10

Fixed overhead =  24.70

Total =                 $69.50

An outside supplier has offered to sell ABC Company 40,000 units of this part a year for $66.10 per unit. If ABC Company accepts this offer, the facilities now being used to make this part could be used to make more units of a product that is in high demand. The additional contribution margin that could be earned on this other product would be $100,000 per year. If ABC Company accepts the outside supplier's offer, $21.90 of the fixed overhead cost being applied to the part would be eliminated. The remaining amount would continue to be incurred and would be allocated to the company's remaining products.

Calculate the selling price per unit charged by the outside supplier that would make ABC Company economically indifferent between making and buying the part. Enter your answer with two | places after the decimal point (i.e., $78.90)

Answer:

ABC Company

The selling price that the outside supplier would charge ABC Company to make it economically indifferent between making and buying the part is:

= $90.50

Explanation:

a) Data and Calculations:

Required annual quantity of the part = 40,000 units

Outside supplier's price per unit =                 $66.10

Total savings =                                                  24.40

Total price for ABC to be indifferent =         $90.50

Savings from outside supply:

Additional contribution ($100,000/40,000) = $2.50

Eliminated fixed costs =                                  $21.90

Total savings =                                                $24.40

b) ABC Company would be indifferent and equally satisfied if the outside supplier charges it $90.50 or it makes the part at a per-unit cost of $69.50 while it loses a benefit or savings (otherwise called opportunity cost) of $24.40.

You plan to retire in 30 years and plan to contribute the same amount of money each year to your retirement fund. The fund earns 7% compounded annually. If you would like to withdraw $100,000 each year for 20 years, starting 1 year after the last contribution is made. Approximately how much money should you contribute to your retirement fund each year

Answers

Answer:

$11,215.24

Explanation:

After retirement:

Annual Withdrawal = $100,000

Period = 20 years

Annual Interest Rate = 7%

Amount required at retirement = $100,000 * PVIFA(7%, 20)

Amount required at retirement = $100,000 * (1 - (1/1.07)^20) / 0.07

Amount required at retirement = $100,000 * 10.5940

Amount required at retirement = $1,059,400

Before retirement:

Period = 30 years

Annual Deposit * FVIFA(7%, 30) = $1,059,400

Annual Deposit * (1.07^30 - 1) / 0.07 = $1,059,400

Annual Deposit * 94.46079 = $1,059,400

Annual Deposit = $11,215.24

So, you should contribute $11,215.24 each year into your retirement fund.

Help ASAP!!

1. Are you interested in being an entrepreneur?
2. Which habits do you do already?
3. Which habits would you like to adopt? Explain.

Answers

Answer: See explanation

Explanation:

An entrepreneur is someone who creates a business in order for the person to make profit. We should note that the person also bears the risk that are involved in the business.

1. Are you interested in being an entrepreneur?

I am interested in being an entrepreneur. Being an entrepreneur will aid the economic growth and development of the country and also enhance the standard of living of the people which works with me.

2. Which habits do you do already?

Some of the habits I already do from the picture include:

• Giving a head start to tomorrow today.

• Tracking my origress

• Continuing learning

• Tracking my progress.

• Refreshing my self with quality family time.

3. Which habits would you like to adopt?

Some of the habits that I'll like to adopt include:

• Keeping the morning for the toughest jobs.

• Workout and meditate

4-8 A manufacturing firm spends $350,000 annually for a required safety inspection program. A new monitoring technology would eliminate the need for such inspection. If the interest rate is 8% per year, how much can the firm afford to spend on this new technology

Answers

Answer:

$3,436,351.59

Explanation:

The computation of the amount that could be afforded to spend is shown below:

= Amount × (P/A, 8%, 20 years)

= $350,000 × 9.8181

= $3,436,351.59

We simply applied the above formula so that the correct value could come

And, the same is relevant too

During 2020, Mike's current FICA taxable is $2,700 and will not change for the remainder of the year. As of the 48th pay, he had earned $134,400 as FICA taxable income (he had a bonus earlier in the year). Determine the amount of FICA taxes to be withheld from the next three payroll periods.

Answers

Answer:

Social Security:

Week 49 = $167.4

Week 50 = $37.20

Week 51 = $0

Medicare Tax:

Week 49 = $39.15

Week 50 = $39.15

Week 51 = $39.15

Explanation:

Note: This question is not complete. But I have found similar question on the internet and in that question we are asked to assume the Tax Caps 2020. So, we will solving this question accordingly.

Solution:

According to 2020 slabs Social Security W/H, the upper limit is $137,700, after this amount employer will not withhold social security tax.

On the other hand, there is no limit for Medicare Tax.

According to the question, we know that, Mike's Pay period per amount = $2700.

And, until 48th pay, he has earned $134,400

So,

For week 49, the amount of 2700 will be added to the net amount.

$134,400 + $2700 = $ 137,100

Hence, it does not breach the upper limit so, it will be taxed to $2700 only.

%6.2 x 2700 = $167.4

For Week 50, now the net amount is $ 137,100, and further $2700 will definitely breach the upper limit by $600.

$ 137,700 - $137,100 = $600

So, the $600 will be taxed for 6.2%

6.2% x $600 = $37.20

For week 51, there is clear breach of the upper limit, so according to the 2020 slab for social security, there will be no social security tax over the limit of $137,700. Hence, it will be 0.

Now, for Medicare Tax:

There is no limit.

And 1.45% on the FICA.

FICA earned per period = $2700

Hence,

1.45% x $2700  = $39.15 for each week.

So,

Social Security:

Week 49 = $167.4

Week 50 = $37.20

Week 51 = $0

Medicare Tax:

Week 49 = $39.15

Week 50 = $39.15

Week 51 = $39.15

Assault and battery is a tort not a crime when the action involves people who know each other

Answers

Answer:

it is an assault if they know you, but they can choose if you are accused of it.

Explanation:

I agree- it is an assault even if they know you.

What are bank notes in economics?

Answers

Answer:

A banknote is a negotiable promissory note which one party can use to pay another party a specific amount of money. A banknote is payable to the bearer on demand, and the amount payable is apparent on the face of the note.

banknote is a negotiable promissory note which one party can use to pay another party a specific amount of money. A banknote is payable to the bearer on demand, and the amount payable is apparent on the face of the note.
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