Question
Create a flowchart diagram that will input the Gross Income of a particular employee, and compute for the output of his/her Tax and Net Income
Create a flowchart diagram that will input the Gross Income of a particular employee, and compute for the output of his/her Tax and Net Income according to the table given below:
Definition of terms:
Gross Income is also known as gross pay when it's on a paycheck - is the individual's total pay from his or her employer before taxes or other deductions
Taxes are involuntary fees charged on individuals or corporations and enforced by a government entity - whether local, regional or national - in order to finance government activities.
Net Income is also called net earnings; It is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses.
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