Question
A company's payroll records report $2,960 of gross pay and $384 of federal income tax withholding for an employee for the weekly pay period.
A company's payroll records report $2,960 of gross pay and $384 of federal income tax withholding for an employee for the weekly pay period. Compute this employee's FICA Social Security tax (6.2%), FICA Medicare tax (1.45%), state income tax (1.0%), and net pay for the current pay period. Note: Round your final answers to 2 decimal places. Gross pay FICA Social Security tax deduction FICA Medicare tax deduction Federal income tax deduction State income tax deduction Total deductions Net pay 0.00 0.00
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Financial Accounting Information for Decisions
Authors: John Wild
7th edition
78025893, 978-0078025891
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