Employee net pay Lindsey Vater's weekly gross earnings for the week ended March 9 were $2,080, and her federal income tax withholding was $395.20. 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.
Employee net pay Lindsey Vater's weekly gross earnings for the week ended March 9 were $2,080, and her federal income tax withholding was $395.20. 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.
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 3PA
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