Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Thomas Longbow is the only employee of Presido, Incorporated During the first week of January, Longbow earned $2,400.00 and had federal and state income tax

Thomas Longbow is the only employee of Presido, Incorporated 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 $132,900. 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 $2,051.40 $2,216.40 $2,400.00 $1,877.40

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

Accounting Double Entry Exercises 40 Full Cycle Accounting Cases With Solutions

Authors: L Castelluzzo

1st Edition

1731173954, 978-1731173959

More Books

Students also viewed these Accounting questions