Answered: An employee's gross pay is $1,560.75…

An employee's gross pay is $1,560.75 and their total payroll deductions amount to $374.58. Calculate what percentage of their gross pay is being withheld for deductions.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 10MCQ: When a credit is made to federal income taxes withholding payable account related to taxes withheld...

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An employee's gross pay is $1,560.75 and their total payroll
deductions amount to $374.58. Calculate what percentage of their
gross pay is being withheld for deductions.

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