Homework Help is Here – Start Your Trial Now!
Business
Accounting
What is the due date of a 220-day loan made on Feb. 12? Group of answer choices Sep 20 Sep 21 Aug 20 July 30

What is the due date of a 220-day loan made on Feb. 12? Group of answer choices Sep 20 Sep 21 Aug 20 July 30

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 87PSB
See similar textbooks
icon
Related questions
Question
What is the due date of a 220-day loan made on Feb. 12?

Group of answer choices
Sep 20
Sep 21
Aug 20
July 30
9:40 Formula Sheet and Tabl... Business Math Formula Sheet O.T. Rate = 1.5 x Regular Rate Regular Pay = Regular Hours × Regular Pay Rate O.T. Pay = 0.T. Hours × O.T. Pay Rate Gross Pay Reg. Pay + O.T. Pay Tax = Tax Rate × Gross Pay Net Pay = Gross Pay - Deductions List Price = Net Cost + Net Cost Equivalent Markup = Selling Price - Cost • Markup on Cost = M ÷ C, then x 100 • Markup on Selling Price M + S, then x 100 Rate of Increase/Decrease = Difference Original x 100% Increase Problem: R =100% + % of increase Decrease Problem: R =100% - % of decrease Finding Base: B = P + R Finding Part: P = R × B Finding Rate: R = P ÷ B, then multiply by 100 Interest = Px R x T, when time is in years. Interest Rate = 12×I÷(PxT) in months %3D Interest Rate = 52×I÷(PxT) in weeks Interest Rate = 360×I÷(PxT) in days • Maturity Value = P+ I For compound interest: i = interest rate + # of compound periods in 1 year n = # of years x # of compound periods in 1 year Compound Amount: FV = (Value from compound interest table) × PV %3D • Compound Interest = FV - PV Amount to be depreciated = Cost – Scrap Value Annual Rate of Depreciation = (1 ÷ # of years) Annual Depreciation = Annual Rate of Depreciation x Amount to be depreciated Percentage Method: Amount for One Withholding Allowance Davroll Period One Withholdina Allowance 9. Dashboard Calendar Тo Do Notifications Inbox
Transcribed Image Text:9:40 Formula Sheet and Tabl... Business Math Formula Sheet O.T. Rate = 1.5 x Regular Rate Regular Pay = Regular Hours × Regular Pay Rate O.T. Pay = 0.T. Hours × O.T. Pay Rate Gross Pay Reg. Pay + O.T. Pay Tax = Tax Rate × Gross Pay Net Pay = Gross Pay - Deductions List Price = Net Cost + Net Cost Equivalent Markup = Selling Price - Cost • Markup on Cost = M ÷ C, then x 100 • Markup on Selling Price M + S, then x 100 Rate of Increase/Decrease = Difference Original x 100% Increase Problem: R =100% + % of increase Decrease Problem: R =100% - % of decrease Finding Base: B = P + R Finding Part: P = R × B Finding Rate: R = P ÷ B, then multiply by 100 Interest = Px R x T, when time is in years. Interest Rate = 12×I÷(PxT) in months %3D Interest Rate = 52×I÷(PxT) in weeks Interest Rate = 360×I÷(PxT) in days • Maturity Value = P+ I For compound interest: i = interest rate + # of compound periods in 1 year n = # of years x # of compound periods in 1 year Compound Amount: FV = (Value from compound interest table) × PV %3D • Compound Interest = FV - PV Amount to be depreciated = Cost – Scrap Value Annual Rate of Depreciation = (1 ÷ # of years) Annual Depreciation = Annual Rate of Depreciation x Amount to be depreciated Percentage Method: Amount for One Withholding Allowance Davroll Period One Withholdina Allowance 9. Dashboard Calendar Тo Do Notifications Inbox
9:26 ( Back FWT Table 2012-5.pdf Q Percentage Method Tables for Income Tax Withholding (For Wages Paid in 2012) TABLE 1-WEEKLY Payroll Period {a) SINGLE person (including head of household)-- If the amount of wages (after subtracting withholding àllowances) is: Not over $41 Over- $41 $209 $721 $1,688 $3,477 $7,510 (b) MARRIED person- If the amount of wages (after subtracting withholding allowances) is: Not over $156 Over- $156 $490 $1,615 $2,900 $4,338 $7,624.. The amount of income tax to withhold is: The amount of income tax to withhold is: .$0 $0 But not over- -$209 -$721 -$1,688 -%$43,477 -$7,510 $0.00 plus 10% $16.80 plus 15% $93.60 plus 25% $335.35 plus 28% $836.27 plus 33% $2,167.16 plus 35% of excess over- m-$41 一$209 -$721 -S1,688 -$3,477 -$7,510 But not over- -$490 -$1,515 --$2,900 -$4,338 -$7,624 .$0.00 plus 10% $33.40 plus 15% $187.15 plus 25% $533.40 plus 28% $936.04 plus 33% $2,020.42 plus 35% of excess over- --$156 -$490 -$1,515 -$2,900 -$4,338 -$7,624 TABLE 2-BIWEEKLY Payroll Period (a) SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) The amount of income tax (b) MARRIED person- If the armount of wages (after subtracting withholding allowances) is: Not over $312 Over-- $312 $981 $3,031 $5,800 $8,675 $15,248. The amount of income tax to withhold is: $0 is: to withhold is: $0 Not over $83 Over-- $83 $417 $1,442 $3,377 $6,954 $15,019 But not over- -$417 -$1,442 -$3,377 -$6,954 -$15,019 $0.00 plus 10% $33.40 plus 15% $187.15 plus 25% $670.90 plus 28% $1,672.46 plus 33% $4,333.91 pius 35% of excess over- -$83 --$417 -$1,442 -$3,377 -%$6,954 $15,019 But not over --$981 --$3,031 -%$45,800 -$8,675 一$15,248 .$0.00 plus 10% $66.90 plus 15% .$374.40 plus 25% .$1,066.65 plus 28% $1,871.65 plus 33% .$4,040.74 plus 35% of excess over- -$312 -$981 --$3,031 -$5,800 -$8,675 --$15,248 TABLE 3-SEMIMONTHLY Payroll Period (a) SINGLE person (including head of household)- 1i the amount of wages (after subtracting withholding àllowances) The amount of income tax (b) MARRIED person- If the amount of wages (after subtracting withholding allowances) is: Not over $338 Over $338 $1,063 $3,283 $6,263 $9,398 $16,519 is: Not over $90 to withhold is: $0 The amount of income tax to withhold is: Over But not over- $90 $452 $1,563 $3,658 $7,533 $16,271 -$452 -$1,563 $3,658 -$7,533 -$16,271 $0.00 plus 10% $36.20 plus 15% $202.85 plus 25% $726.60 plus 28% $1,811.60 plus 33% $4,695.14 plus 35% of excess over- -$90 -$452 -$1,563 $3,658 -$7,533 -$16,271 But not over --$1,063 -$3,283 -$6,283 -$49,398 -$16,519 $0.00 pius 10% .$72.50 plus 15% $405.50 plus 25% .$1,155.50 plus 28% .$2,027.70 plus 33% $4,377.63 plus 35% of excess over- -$338 -$1,063 -$43.283 -$6,283 -$9,398 -$16,519 TABLE 4-MONTHLY Payroll Period (a) SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) is: Not over $179 (b) MARRIED person- If the amount of wages (after subtracting withholding allowances) is: Not over $675 Over- $675 $2,125 $6,567 $12,567 $18,796 $33,038 The amount of income tax to withhold is: The amount of income tax to withhold is: so $0 But not over- -$904 -$3,125 -$7.317 -$15,067 $32.542 But not over- --$2,125 -$6,567 -$12,567 -$18,796 $33,038 over- $179 $804 $3,125 $7,317 $15,067 $32,542 $0.00 plus 10% . $72.50 plus 15% $405.65 plus 25% $1,453.65 plus 28% . $3,623.65 plus 33% $9,390.40 plus 35% of excess over- -$179 $904 -$3,125 --$7,317 S15,067 -$32,542 $0.00 plus 10% $145.00 plus 15% $811.30 plus 25% $2,311.30 plus 28% 4,055.42 plus 33% $8,755.28 plus 35% Of excess over- -$675 -$2,125 -$6,567 -$12,567 -$18,796 --$33,038 Payroll Period One Withholding Allowance Weekly Biweekly Semimonthly Monthly Quarterly Semiannually. Annually Daily or miscellaneous (each day of the payroli period) 24 73.08 146.15 158.33 316.67 950.00 1,900.00 3,800.00 14.62 Page 36 Publication 15 (2012) 9. Dashboard Calendar To Do Notifications Inbox
Transcribed Image Text:9:26 ( Back FWT Table 2012-5.pdf Q Percentage Method Tables for Income Tax Withholding (For Wages Paid in 2012) TABLE 1-WEEKLY Payroll Period {a) SINGLE person (including head of household)-- If the amount of wages (after subtracting withholding àllowances) is: Not over $41 Over- $41 $209 $721 $1,688 $3,477 $7,510 (b) MARRIED person- If the amount of wages (after subtracting withholding allowances) is: Not over $156 Over- $156 $490 $1,615 $2,900 $4,338 $7,624.. The amount of income tax to withhold is: The amount of income tax to withhold is: .$0 $0 But not over- -$209 -$721 -$1,688 -%$43,477 -$7,510 $0.00 plus 10% $16.80 plus 15% $93.60 plus 25% $335.35 plus 28% $836.27 plus 33% $2,167.16 plus 35% of excess over- m-$41 一$209 -$721 -S1,688 -$3,477 -$7,510 But not over- -$490 -$1,515 --$2,900 -$4,338 -$7,624 .$0.00 plus 10% $33.40 plus 15% $187.15 plus 25% $533.40 plus 28% $936.04 plus 33% $2,020.42 plus 35% of excess over- --$156 -$490 -$1,515 -$2,900 -$4,338 -$7,624 TABLE 2-BIWEEKLY Payroll Period (a) SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) The amount of income tax (b) MARRIED person- If the armount of wages (after subtracting withholding allowances) is: Not over $312 Over-- $312 $981 $3,031 $5,800 $8,675 $15,248. The amount of income tax to withhold is: $0 is: to withhold is: $0 Not over $83 Over-- $83 $417 $1,442 $3,377 $6,954 $15,019 But not over- -$417 -$1,442 -$3,377 -$6,954 -$15,019 $0.00 plus 10% $33.40 plus 15% $187.15 plus 25% $670.90 plus 28% $1,672.46 plus 33% $4,333.91 pius 35% of excess over- -$83 --$417 -$1,442 -$3,377 -%$6,954 $15,019 But not over --$981 --$3,031 -%$45,800 -$8,675 一$15,248 .$0.00 plus 10% $66.90 plus 15% .$374.40 plus 25% .$1,066.65 plus 28% $1,871.65 plus 33% .$4,040.74 plus 35% of excess over- -$312 -$981 --$3,031 -$5,800 -$8,675 --$15,248 TABLE 3-SEMIMONTHLY Payroll Period (a) SINGLE person (including head of household)- 1i the amount of wages (after subtracting withholding àllowances) The amount of income tax (b) MARRIED person- If the amount of wages (after subtracting withholding allowances) is: Not over $338 Over $338 $1,063 $3,283 $6,263 $9,398 $16,519 is: Not over $90 to withhold is: $0 The amount of income tax to withhold is: Over But not over- $90 $452 $1,563 $3,658 $7,533 $16,271 -$452 -$1,563 $3,658 -$7,533 -$16,271 $0.00 plus 10% $36.20 plus 15% $202.85 plus 25% $726.60 plus 28% $1,811.60 plus 33% $4,695.14 plus 35% of excess over- -$90 -$452 -$1,563 $3,658 -$7,533 -$16,271 But not over --$1,063 -$3,283 -$6,283 -$49,398 -$16,519 $0.00 pius 10% .$72.50 plus 15% $405.50 plus 25% .$1,155.50 plus 28% .$2,027.70 plus 33% $4,377.63 plus 35% of excess over- -$338 -$1,063 -$43.283 -$6,283 -$9,398 -$16,519 TABLE 4-MONTHLY Payroll Period (a) SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) is: Not over $179 (b) MARRIED person- If the amount of wages (after subtracting withholding allowances) is: Not over $675 Over- $675 $2,125 $6,567 $12,567 $18,796 $33,038 The amount of income tax to withhold is: The amount of income tax to withhold is: so $0 But not over- -$904 -$3,125 -$7.317 -$15,067 $32.542 But not over- --$2,125 -$6,567 -$12,567 -$18,796 $33,038 over- $179 $804 $3,125 $7,317 $15,067 $32,542 $0.00 plus 10% . $72.50 plus 15% $405.65 plus 25% $1,453.65 plus 28% . $3,623.65 plus 33% $9,390.40 plus 35% of excess over- -$179 $904 -$3,125 --$7,317 S15,067 -$32,542 $0.00 plus 10% $145.00 plus 15% $811.30 plus 25% $2,311.30 plus 28% 4,055.42 plus 33% $8,755.28 plus 35% Of excess over- -$675 -$2,125 -$6,567 -$12,567 -$18,796 --$33,038 Payroll Period One Withholding Allowance Weekly Biweekly Semimonthly Monthly Quarterly Semiannually. Annually Daily or miscellaneous (each day of the payroli period) 24 73.08 146.15 158.33 316.67 950.00 1,900.00 3,800.00 14.62 Page 36 Publication 15 (2012) 9. Dashboard Calendar To Do Notifications Inbox
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Corporate Financial Accounting
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS