You are considering hiring another employee. The market rate for the employee is a $35,000 salary. How much would the company have to pay after-tax for this salary? Assume a corporate tax rate of 21% and Ignore payroll taxes.
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You are considering hiring another employee. The market rate for the employee is a $35,000 salary. How much would the company have to pay after-tax for this salary? Assume a corporate tax rate of 21% and Ignore payroll taxes.
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- Your company plans to hire an employee at a yearly salaryof $70,000. Someone in your company says the actual costwill be lower because of payroll deductions. Someone elsesays it will be higher. Who is right? What is likely to bethe total cost to the company? Explain.XYZ Corporation has a deferred compensation plan under which it allows certain employees to defer up to 35 percent of their salary for five years. For purposes of this problem, ignore payroll taxes in your computations. (Use Table 1.) Note: Round your intermediate calculations and final answers to the nearest whole dollar amount. a. Assume XYZ has a marginal tax rate of 21 percent for the foreseeable future and earns an after-tax rate of return of 9 percent on its assets. Joel Johnson, XYZ's VP of finance, is attempting to determine what amount of deferred compensation XYZ should be willing to pay in five years that would make XYZ indifferent between paying the current salary of $17,700 and paying the deferred compensation. What amount of deferred compensation would accomplish this objective? b. Assume Julie, an XYZ employee, has the option of participating in XYZ's deferred compensation plan. Julie's marginal tax rate is 37 percent, and she expects the rate to remain constant…Suppose your firm receives a $4.06 million order on the last day of the year. You fill the order with $2.07 million worth of inventory. The customer picks up the entire order the same day and pays $1.24 million up front in cash; you also issue a bill for the customer to pay the remaining balance of $2.82 million within 40 days. Suppose your firm's tax rate is 0% (i.e., ignore taxes). Determine the consequences of this transaction for each of the following: d. Inventory e. Cash a. Revenues b. Earnings c. Receivables a. Revenues Revenues will increase by $ million. (Select from the drop-down menu and round to two decimal places.) b. Earnings Earnings will increase by $ million. (Select from the drop-down menu and round to two decimal places.) c. Receivables Receivables will increase by $ million. (Select from the drop-down menu and round to two decimal places.) d. Inventory Inventory will decrease by $ million. (Select from the drop-down menu and round to two decimal places.) e. Cash…
- Suppose your firm receives a $4.93 million order on the last day of the year. You fill the order with $1.89 million worth of inventory. The customer picks up the entire order the same day and pays $1.23 million up front in cash; you also issue a bill for the customer to pay the remaining balance of $3.70 million within 40 days. Suppose your firm's tax rate is 0% (i.e., ignore taxes). Determine the consequences of this transaction for each of the following: a. Revenues b. Earnings c. Receivables d. inventory e. cashAssume that your starting salary will be $55,000 per year, and assume that you have no additional income sources. Also, assume that Federal income taxes are 27% of your gross income, and that there is not any state tax in Texas. What is your monthly net income?Suppose your firm receives a $5.82 million order on the last day of the year. You fill the order with $1.97 million worth of inventory. The customer picks up the entire order the same day and pays $1.09 million up front in cash; you also issue a bill for the customer to pay the remaining balance of $4.73 million within 40 days. Suppose your firm's tax rate is 0% (i.e., ignore taxes). Determine the consequences of this transaction for each of the following: a. Revenues b. Earnings c. Receivables d. Inventory e. Cash a. Revenues Revenues will ▼ increase or decrease by $___ million. (Select from the drop-down menu and round to two decimal places.)
- Your employer asks you to consult on the better approach to a decision. What should the corporation pay for an asset that will return them $150,000 at the end of year 1, then zero in year 2, then $400,000 in years 3 & 4, then zero in year 5, then $200,000 in years 6-10, assuming their discount rate is 3% (ignoring taxes) ?Please help me with the incorrect answers[The following information applies to the questions displayed below.] XYZ Corporation has a deferred compensation plan under which it allows certain employees to defer up to 40 percent of their salary for five years. For purposes of this problem, ignore payroll taxes in your computations. Note: Round your intermediate calculations and final answers to the nearest whole dollar amount. a. Assume XYZ has a marginal tax rate of 21 percent for the foreseeable future and earns an after-tax rate of return of 8 percent on its assets. Joel Johnson, XYZ's VP of finance, is attempting to determine what amount of deferred compensation XYZ should be willing to pay in five years that would make XYZ indifferent between paying the current salary of $10,000 and paying the deferred compensation. What amount of deferred compensation would accomplish this objective?
- explain thoroughly why there is no fringe benefit tax expense for the two middle staff or rank and file employeesSuppose a college football coach makes a base salary of $2,400,000 a year ($200,000 per month). Employers are required to withhold a 6.2% Social Security tax up to a maximum base amount and a 1.45% Medicare tax with no maximum. Assuming the Social Security maximum base amount is $128,400, how much will be withheld during the year for the coach's Social Security and Medicare taxes? (Round your answers to the nearest dollar amount.)XYZ Corporation has a deferred compensation plan under which it allows certain employees to defer up to 15 percent of their salary for five years. For purposes of this problem, ignore payroll taxes in your computations. (Use Table 1.) Note: Round your intermediate calculations and final answers to the nearest whole dollar amount. Problem 13-66 Part a (Algo) a. Assume XYZ has a marginal tax rate of 21 percent for the foreseeable future and earns an after-tax rate of return of 17 percent on its assets. Joel Johnson, XYZ's VP of finance, is attempting to determine what amount of deferred compensation XYZ should be willing to pay in five years that would make XYZ indifferent between paying the current salary of $10,500 and paying the deferred compensation. What amount of deferred compensation would accomplish this objective?