Question
During the month of July, Joe Morgan earned $2,000. Joe is on the payroll at a salary of $2,000 per month, which is paid at
During the month of July, Joe Morgan earned $2,000. Joe is on the payroll at a salary of $2,000 per month, which is paid at the end of each month. Assume that FICA taxes are 7.65% of wages (Social Security 6.2% + Medicare 1.45% = FICA 7.65%) and that Joe has voluntary withholdings of $45 for his retirement plan and $30 for health insurance premiums. Federal and state income tax withholdings are $300 and $100, respectively. What amount did Joe receive in his check, net of all deductions, for his July pay?
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Horngrens Financial And Managerial Accounting The Financial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
6th Edition
978-0134486840, 134486838, 134486854, 134486846, 9780134486833, 978-0134486857
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