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At the end of the first pay period of the year, Sofia earned $4,400 of salary. Withholdings from Sofias salary include FICA Social Security taxes
At the end of the first pay period of the year, Sofia earned $4,400 of salary. Withholdings from Sofias salary include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $508 of federal income taxes, $168 of medical insurance deductions, and $18 of life insurance deductions. Compute Sofias net pay for this first pay period
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College Accounting
Authors: Heintz and Parry
20th Edition
1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192
