Compute the net pay for each employee using the federal income tax withholding table in Figure 7.2

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Compute the net pay for each employee using the federal income tax withholding table in Figure 7.2 . Assume that FICA OASDI tax is 6.2% on a wage base limit of $127,200; Medicare is 1.45% on all earnings, the payroll is paid biweekly, and no state income tax applies.

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College Accounting A Practical Approach

ISBN: 9780134729312

14th Edition

Authors: Jeffrey Slater, Mike Deschamps

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