? Question 18 B is a builder with a staff of ten employees. In April 2000 he paid the following amounts: Net salaries after tax and national insurance $16,000 Tax and employees' national insurance for March 2000 Employer's national insurance for March 2000 $7,000 S3,000 He owes $8,000 for April's tax and employees' national insurance and $3,500 for April's employer's national insurance. What is the correct expense to be included in April's profit and loss account? $ .

? Question 18 B is a builder with a staff of ten employees. In April 2000 he paid the following amounts: Net salaries after tax and national insurance $16,000 Tax and employees' national insurance for March 2000 Employer's national insurance for March 2000 $7,000 S3,000 He owes $8,000 for April's tax and employees' national insurance and $3,500 for April's employer's national insurance. What is the correct expense to be included in April's profit and loss account? $ .

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. The original Social Security tax rate was _____ of taxable earnings. Answer: A. 10% B. 1% C. 5% D. 7% 2. The 2021 Social Security wage base is _____. Answer: A. $100,000 B. $113,700 C. $125,000 D. $142,800 3. What is the earnings threshold over which an employee whose filing status is Married Filing Separately will be subject to the additional Medicare tax? Answer: A. $117,000 B. $125,000 C. $200,000 D. $250,000
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