Bill Burne's earnings are subject to deductions for Social Security, Medicare, and FIT. To date his cumulative

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Bill Burne's earnings are subject to deductions for Social Security, Medicare, and FIT. To date his cumulative earnings is $106,700. This week Bill earns $1,200. Bill, who is married, is paid weekly and claims 3 exemptions. Assume Social Security rate is 6.2% on $106,800 and 1.45% for Medicare. His net pay for the week is use percentage table in handbook to calculate FIT).


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College Accounting

ISBN: 978-1111528126

11th edition

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

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