Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Thomas Longbow is the only employee of Presido, Inc. During the first week of January, Longbow earned $2,200.00 and had federal and state income tax

Thomas Longbow is the only employee of Presido, Inc. During the first week of January, Longbow earned $2,200.00 and had federal and state income tax withholdings of $110.00 and $41.25, respectively. FICA taxes are 7.65% on earnings up to $117,000. State and federal unemployment taxes for the period are $137.50 and $22.00, respectively.

What would be the amount of Longbows payroll check for the first week of January?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Computerized Accounting With QuickBooks 2014

Authors: Kathleen Villani, James B. Rosa, Blanche Ettinger

1st Edition

0763860239, 9780763860233

More Books

Students also viewed these Accounting questions

Question

Describe buying on margin. Provide an example in your own words.

Answered: 1 week ago

Question

Does your message use defamatory language?

Answered: 1 week ago