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 $2,400.00 and had federal and state income tax

image text in transcribed

Thomas Longbow is the only employee of Presido, Inc. During the first week of January, Longbow earned $2,400.00 and had federal and state income tax withholdings of $120.00 and $45.00, respectively. FICA taxes are 7.65% on earnings up to $117,000. State and federal unemployment taxes for the period are $150.00 and $24.00, respectively. What would be the amount of Longbow's payroll check for the first week of January? Multiple Choice $2,400.00 $2,216.40 $1,877.40 $1,877.40 $2,051.40

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

Step: 3

blur-text-image

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

The Audit Process Principles Practice And Cases

Authors: Iain Gray, Stuart Manson,

4th ISA Edition

1844806782, 9781844806782

More Books

Students also viewed these Accounting questions

Question

Identify service category critical success factors.

Answered: 1 week ago

Question

What is meant by organisational theory ?

Answered: 1 week ago

Question

What is meant by decentralisation of authority ?

Answered: 1 week ago

Question

Briefly explain the qualities of an able supervisor

Answered: 1 week ago

Question

Define policy making?

Answered: 1 week ago

Question

Define co-ordination?

Answered: 1 week ago