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I need help with this question. Following are some transactions and events of Business Solutions. Feb. 26 The company paid cash to Lyn Addie for
I need help with this question.
Following are some transactions and events of Business Solutions. Feb. 26 The company paid cash to Lyn Addie for eight days' work at $130 per day. Mar. 25 The company sold merchandise with a $2,032 cost for $2,910 on credit to Wildcat Services, invoice dated March 25 Required 1. Assume that Lyn Addie is an unmarried employee. Her $1,040 of wages are subject to no deductions other than FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. (The FICA social security rate is 6.2% of gross pay, and the FICA medicare rate is 1.45% of gross pay.) Her federal income taxes for this pay period total $104 Compute her net pay for the eight days' work paid on February 26. (Round your answer to 2 decimal places. Do not round intermediate calculations.) Net payStep by Step Solution
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