Employee net pay Lindsey Vater's weekly gross earnings for the week ended March 9 were $ 3,160, and her federal income tax withholding was $663.60. Assuming the social security tax rate is 6% and Medicare tax is 1.5% of all earnings, what is Lindsey's net pay? For interim computations, carry amounts out to two decimal places. Round your final answer to two decimal places.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Employee net pay Lindsey Vater's weekly gross earnings for the week ended March 9 were $
3,160, and her federal income tax withholding was $663.60. Assuming the social security tax
rate is 6% and Medicare tax is 1.5% of all earnings, what is Lindsey's net pay? For interim
computations, carry amounts out to two decimal places. Round your final answer to two
decimal places.
Transcribed Image Text:Employee net pay Lindsey Vater's weekly gross earnings for the week ended March 9 were $ 3,160, and her federal income tax withholding was $663.60. Assuming the social security tax rate is 6% and Medicare tax is 1.5% of all earnings, what is Lindsey's net pay? For interim computations, carry amounts out to two decimal places. Round your final answer to two decimal places.
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