Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need help to answer these questions as soon as possible please!! Safari File Edit View History Bookmarks Window Help ezto.mheduca Week 9- Llabilities 1.
I need help to answer these questions as soon as possible please!! Safari File Edit View History Bookmarks Window Help ezto.mheduca Week 9- Llabilities 1. M10-3 Calculating Net Pay and Total Payroll Costs [LO 10-2] Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the directly deposited into the employees bank accounts November 1-14 pay period show that employees eamed wages totaling $61,000 but that employee income taxes totaling $8,100 and FICA taxes totaling $3,175 were withheld from this amount. The net pay was 1. What was the amount of net pay? 2. Assuming Lightning Electronics must also pay $360 of unemployment taxes for this pay period, what amount would be reported as the total payroll costs? References eBook & Resources Worksheet Difficulty: 1 Easy M10-3 Calculating Net Pay and Total Payroll Costs [LO 10-2 Learning Objective: 10-02 Explain how to account for common types of current liabilities
I need help to answer these questions as soon as possible please!!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started