Medicare is administered by _____ and is financed by _____. a. the federal government; a payroll...
Medicare is administered by _____ and is financed by _____.
| a. |
the federal government; a payroll tax |
|
| b. |
states; a payroll tax |
|
| c. |
the federal government; general revenues |
|
| d. |
states; general revenues |
Homework Answers
In United States, the central health insuranced program that is run by the Medicare
It comes under 1966 social security administration and administered by federal government
Its main source of finance is payroll tax
A payroll tax is generally deduction of tax from the employees salary for the use of social security and medical care
It is not financed as by the general revenues
So the correct answer here is option A
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Medicare is administered by _____ and is financed by _____.
a.
the federal government; a payroll...
Assume a weekly payroll of $75,000 entirely subject to F.LC.A, and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of $1,520 and union dues of $99...
Assume a weekly payroll of $75,000 entirely subject to F.LC.A, and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of $1,520 and union dues of $99 deducted. Journal entry to record salaries and wages paid: GENERAL JOURNAL PAGE 1 DEBIT CREDIT DATE DESCRIPTION PR. Assume a weekly payroll of $75,000 entirely subject to FJ.C.A. and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of S1,520 and union dues of $88...
company has a gross payroll for the month of $846,000. The entire payroll is subject to a fica rate of 6.2% and a medicare rate of 1.45%Also federal tax is $176,000 and state tax is $18,500. 365,...
company has a gross payroll for the month of $846,000. The entire payroll is subject to a fica rate of 6.2% and a medicare rate of 1.45%Also federal tax is $176,000 and state tax is $18,500. 365,000 of the payroll is subject to a state unemployment rate of 5.4% and a federal unemployment rate 0.6%. a) Record the employee payroll for the month. )Record the employer payroll tax expense for the month. GeneralJ
company has a gross payroll for the...
QUESTION 32 How federal government taxing and spending affects aggregate demand is a. a major concern...
QUESTION 32 How federal government taxing and spending affects aggregate demand is a. a major concern of fiscal policy. b. a major concern of international policy. c. a major concern of corporate policies. QUESTION 34 How would a balanced budget amendment change the effect of automatic stabilizer programs? a. They could no longer exist because the government would not have a way to pay for these programs. b. They would lose flexibility because spending could not increase unless funds were...
D Question 5 1 pts A major concern of fiscal policy is how federal government taxing...
D Question 5 1 pts A major concern of fiscal policy is how federal government taxing and spending affects aggregate demand. how changes to the budget affect the money supply. how changes to the money supply affect aggregate demand. - Previous Next Question 9 1 pts of the following examples, which is an example of an automatic fiscal policy stabilizer? Congress increases individual income tax rates. Congress decides to cut spending on national parks. Tax revenues increase as real GDP...
Which of the following is not a current liability? Sales tax payable; Payroll taxes payable; c....
Which of the following is not a current liability? Sales tax payable; Payroll taxes payable; c. Unearned revenues; D. Allowance for doubtful accounts. B. Which of the following is not a current liability? Discount on Bonds Payable due in 7 years; Wages Payable; Estimated Warranty Payable for items sold with a one year warranty: Out of court litigation settlement liability due to be paid next month. B. Page 2 of 6 Which of the following is not a payroll tax...
Payroll Entries The A multi-column report used to assemble and summarize payroll data at the end...
Payroll Entries The A multi-column report used to assemble and summarize payroll data at the end of each payroll period.payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries $614,000 Federal income tax withheld 122,800 The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $12,000 of salaries. If an...
Payroll Entries The payroll register for D. Salah Company for the week ended May 18 indicated...
Payroll Entries The payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries $604,000 120,800 Federal income tax withheld The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $11,000 of salaries. If an amount box does not require an entry, leave it blank. a. Journalize the entry to record...
The payroll register of Konrath Co. indicates $13,200 of social security withheld and $3,300 of Medicare...
The payroll register of Konrath Co. indicates $13,200 of social security withheld and $3,300 of Medicare tax withheld on total salaries of $220,000 for the period. Earnings of $35,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% and the state rate of 5.4%. On December 31, provide the journal entry to record the payroll tax expense for the period.
help please!! these are all based on United States QUESTION 14 Which statement is TRUE? a....
help please!! these are all based on United States
QUESTION 14 Which statement is TRUE? a. Medicaid recipients receive dental benefits in fewer than half of the states. O b. Medicaid rules do not require states to cover services such as prescription drugs or dental care. c. There are significant copayments associated with the prescription drug benefits under Medicaid. d. Medicaid only covers services provided in a hospital emergency room. QUESTION 16 Medicare is administered by and is financed by...
The payroll register of Heritage Co. indicates $3,900 of social security withheld and $975 of Medicare...
The payroll register of Heritage Co. indicates $3,900 of social security withheld and $975 of Medicare tax withheld on total salaries of $65,000 for the period. Earnings of $10,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% and the state rate of 5.4%. Journalize the entry to record the payroll tax expense for the period. Refer to the Chart of Accounts for exact wording of account titles.
Assume a weekly payroll of $75,000 entirely subject to F.LC.A, and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of $1,520 and union dues of $99 deducted. Journal entry to record salaries and wages paid: GENERAL JOURNAL PAGE 1 DEBIT CREDIT DATE DESCRIPTION PR. Assume a weekly payroll of $75,000 entirely subject to FJ.C.A. and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of S1,520 and union dues of $88...
company has a gross payroll for the month of $846,000. The entire payroll is subject to a fica rate of 6.2% and a medicare rate of 1.45%Also federal tax is $176,000 and state tax is $18,500. 365,000 of the payroll is subject to a state unemployment rate of 5.4% and a federal unemployment rate 0.6%. a) Record the employee payroll for the month. )Record the employer payroll tax expense for the month. GeneralJ
company has a gross payroll for the...
D Question 5 1 pts A major concern of fiscal policy is how federal government taxing and spending affects aggregate demand. how changes to the budget affect the money supply. how changes to the money supply affect aggregate demand. - Previous Next Question 9 1 pts of the following examples, which is an example of an automatic fiscal policy stabilizer? Congress increases individual income tax rates. Congress decides to cut spending on national parks. Tax revenues increase as real GDP...
Which of the following is not a current liability? Sales tax payable; Payroll taxes payable; c. Unearned revenues; D. Allowance for doubtful accounts. B. Which of the following is not a current liability? Discount on Bonds Payable due in 7 years; Wages Payable; Estimated Warranty Payable for items sold with a one year warranty: Out of court litigation settlement liability due to be paid next month. B. Page 2 of 6 Which of the following is not a payroll tax...
Payroll Entries The payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries $604,000 120,800 Federal income tax withheld The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $11,000 of salaries. If an amount box does not require an entry, leave it blank. a. Journalize the entry to record...
help please!! these are all based on United States
QUESTION 14 Which statement is TRUE? a. Medicaid recipients receive dental benefits in fewer than half of the states. O b. Medicaid rules do not require states to cover services such as prescription drugs or dental care. c. There are significant copayments associated with the prescription drug benefits under Medicaid. d. Medicaid only covers services provided in a hospital emergency room. QUESTION 16 Medicare is administered by and is financed by...
The payroll register of Heritage Co. indicates $3,900 of social security withheld and $975 of Medicare tax withheld on total salaries of $65,000 for the period. Earnings of $10,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% and the state rate of 5.4%. Journalize the entry to record the payroll tax expense for the period. Refer to the Chart of Accounts for exact wording of account titles.
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