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- Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese's current benefit analysis is as follows: Company Cost (Current) Employee Cost (Current) $ 6,600.00 $ 990.00 155.00 155.00 342.00 171.00 68.40 34.20 855.00 Yearly Benefit Costs Medical insurance Dental insurance Life insurance AD&D Short-term disability Long-term disability 401(k) Social Security Medicare . Tuition reimbursement Total yearly benefit costs (employer) Employee's annual salary The total value of employee's compensation Required: Compute the benefit analysis assuming: 3,463.01 809.90 2,350.00 $14,848.51 57,000.00 $ 71,848.51 0 0 0 0 1,710.00 3,463.01 809.90 0 • 3 percent increase in pay. • Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to 3 percent contribution by the employer. 15 percent increase in medical and dental insurance premiums. Note: Round your answers to 2 decimal places.Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese's current benefit analysis is as follows: Company Cost Employee Cost (Current) (Current) $ 6,500.00 150.00 336.00 168.00 Yearly Benefit Costs Medical insurance Dental insurance Life insurance AD&D Short-term disability Long-term disability 401(k) Social Security Medicare Tuition reimbursement Total yearly benefit costs (employer) Employee's annual salary The total value of employee's compensation Required: Compute the benefit analysis assuming: Yearly Benefit Costs Medical insurance Dental insurance Life insurance AD&D Short-term disability Long-term disability 401(k) Social Security Medicare Tuition reimbursement Total yearly benefit costs (employer) Employee's annual salary The total value of employee's compensation 67.20 33.60 840.00 Answer is complete but not entirely correct. Company Cost (New) $ $ $ $ $ $ $ $ $ $ $ $ 3,402.25 795.69 2,300.00 $14,592.74 56,000.00 $ 70,592.74 |$ • 3 percent…Gross Income Compute how much will be included and excluded in the gross income given the following scenarios. 1. A call center agent receiving a monthly salary of P21,000 with mandatory annual deductions of P15,166, which includes SSS, PhilHealth, and Pag-Ibig contributions. What will be the amount for his annual gross income?
- Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight's current benefit analysis is as follows: Yearly Benefit Costs Medical insurance Dental insurance Life insurance AD&D Short-term disability Long-term disability 401(k) Social Security Medicare Tuition reimbursement Total yearly benefit costs (employer) Employee's annual salary. The Total value of employee's compensation Required: Compute the benefit analysis assuming: Company Cost (Current) $ 8,000.00 120.00 300.00 150.00 60.00 30.00 750.00 3,018.16 705.86 $ 2,000.00 $ 15,134.02 50,000.00 $ 65,134.02 Employee Cost (Current) $ 1,200.00 120.00 0 0 0 0 1,500.00 3,018.16 705.86 0 • 3 percent increase in pay. • Dwight will increase his 401(k) contribution to 8 percent with a company match of 50 percent up to 6 percent of the employee's annual salary. • 15 percent increase in medical and dental insurance premiums. (Round your answers to 2 decimal places.)Problem Solving Directions: 1. Compute for the gross taxable income and tax due of Ms. Myra dela Torre, supervisor of the telecommunication company. Basic salary of P1,401,148.83, 13th-month pay, and other benefits P90,000.00, de minimis benefits of P40,000.00, SSS/GSIS/, PHIC, and Pag-ibig contributions P16,570.60. 2. Explain the procedure of how you computed the gross taxable income and tax due of Ms. dela Torre.Practice, Practice, Practice For the current pay period, compute the following for the employees of Rodeo. Note: Round each to the nearest cent and if an amount is zero, enter "0". Robert has cumulative earnings of $58,200. His current earnings are $3,201.00. Robert's 2018 OASDI withholding is: $And his 2018 HI withholding is: $ Joan's current earnings total a gross amount of $6,721.00. Year to date she has earnings of $122,200. Joan's 2018 OASDI withholding is: $And her 2018 HI withholding is: $ Ellen's current earnings total a gross amount of $19,030. Year to date earnings are $346,000. Ellen's 2018 OASDI withholding is: $And her 2018 total HI withholding is: $Regarding Ellen's supplemental withholding for the current period, select the correct response. Compute the total annual tax for the following individuals. Note: Round each to the nearest cent. Joaquin has self-employment earnings of $60,000. Joaquin's 2018 total self-employment withholding is: $…
- es ! Required information [The following information applies to the questions displayed below.] Greer Utsey earned $48,400 in 2022 for a company in Kentucky. Greer is single with one dependent under 17 and is paid weekly. The FUTA rate in Kentucky for 2022 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $11,100. Use the percentage method in Appendix C and the state information in Appendix D. Manual payroll system is used and Box 2 is not checked. Required: Compute the following employee share of the taxes for the third weekly payroll of the year. Note: Do not round intermediate calculation. Round your final answers to 2 decimal places. Federal income tax withholding Social Security tax Medicare tax State income tax withholding $ 13.49Consider the revenues and costs in 2019 for Spruce Decor Inc., an Alberta-based furniture company entirely owned by Mr. Harold Buford. Furniture Sales $600,000 Catalogue Salos Labour Costs $13,500 $345,000 $162,000 Materials Costs Advertising Costs Debt-Service Costs $26,000 $34,900 a. What would accountants detormine Spruce Decor's profits to be in 2019? Spruce Decor's profits in 2019 equal $ 45600 b. Suppose Mr. Buford has $375,000 of capital invested in Spruce Decor. Also suppose that oqually risky enterprises ean an 18 percent rate of return on capital. What is the opportunity cost for Mr. Buford's capital? The opportunity cost for Mr. Buford's capital is $ 67500 c. What are the economic profits for Spruce Decor in 2019?Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019, they generated $722,000 in service revenue. Their total cost (fixed and variable) per client was $2,400 and they served 105 clients during the year. If operating expenses for the year were $302,000 what was their net income? Park and West, LLC Income Statement For Year Ending 2019
- Problem 1: Mr. ABC is a resident Filipino citizen,show his income and expenses during a calendar year. Compensation Income: Gross compensation incom per month -50000 Total SSS premium contribution-2400 Total PhilHealth premium contribution-3000 REQUIRED: 1. compute for the taxable compensation income during the year assuming that Mr.ABC is a rank-and -file employee Total PAG-IBIG premium contributions-1200 Union dues-2000 Other benefits received by employees Annual rice subsidy-18000 Annual clothing allowance-14000 Temporary housing for 3 months-15000 Christmas gift-5000 Chrsitmas bonus-20000 Other income Rent income per month from leasing residential space-50000 Operating expense per month with receipt-25000Required information [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $127,200 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 3.1% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. Gross Pay through August 31 $ 6,400 Gross Pay for September 800 а. b. 2,000 120,900 2,100 8,000 C. ssuming situation a, prepare the employer's September 30 journal entries to record salary expense and its related payroll liabiliti this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. Complete this question by entering your answers in the tabs below. Employee Paid Таxes General Journal Assuming situation a, calculate the employee-paid taxes. The employee's federal income taxes withheld by the employer are $80 for this pay period. (Round your answers to 2 decimal places.) Taxes to be Withheld…Mr. Chico provided the following data. Salary for the year (P10,000 for 12 months, MWE-P10,000/mo.) Overtime pay Hazard pay Holiday pay Commission income as additional compensation income from the same company Professional income as dentist P 120,000 50,000 Prof. expenses 1. Using the above facts, how much is Mr. Chico taxable net income is? 2. Using the same facts, If he has no commission income, how much is Mr. Chico taxable net Income is? 20,000 20,000 10,000 250,00 0 50,000 3. Using the same facts, if he has no commission income & professional income, Mr. Chico taxable net income is how much?