Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ron smith has cumulative earnings of 110,100. this

Ron smith has cumulative earnings of 110,100. This week he is paid $2,000. Assuming the...

70.2K

Verified Solution

Question

Accounting

Ron smith has cumulative earnings of 110,100. This week he is paid $2,000. Assuming the social security rate is 6.2% on $118,500 and 1.45% for Medicare what is the amount of social security and Medicare taking out of Rons earnings

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

The PCR reaction will be carried out with the following cycle conditions: 95 degrees C for...

Medical Sciences
1.2K views

Trace the pathway of a spermatozoon (sperm cell) using words from a seminiferous tubule of the...

Mechanical Engineering
1.2K views

Five kg of butane (C4H10) in a piston–cylinder assembly undergo a process from p1 = 5...

Calculus
1.2K views

Find the oblique and/or horizontal asymptote(s) for the function R(x)=(x^2-x-12)/(x+5). Graph the rational function making...

Calculus
1.2K views

Find the area of the region described The region in the first quadrant bounded by...

Accounting
1.2K views

Exercise 11-5 (Algo) Interest-bearing notes payable with year-end adjustments LO P1 Keesha Company borrows $200,000...

Accounting
1.2K views

which of the following would not be an account found in the financial statement? a....

Accounting
1.2K views

Whispering Company shows a balance of $208,580 in the Accounts Receivable account on December 31,...

Finance
1.2K views

Suppose that a bond of the COL company that sells today for $956 has a...

Accounting
1.2K views

Halifax Corporation, a CCPC, had taxable income of $450,000 in its fiscal year ending December...

Accounting
1.2K views

Cullumber Company expects to produce 51,000 units of product XLA during the current year. Budgeted...

Finance
1.2K views

What discount rate (weighted average cost of capital) should American Greetings use to analyze the...