Lindsey Vater's weekly gross earnings for the week ended March 9 were $3,950, and her federal Income tax withholding was $671.50. 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 computation carry amounts out to two decimal places. Round your final answer to two decimal places.
Lindsey Vater's weekly gross earnings for the week ended March 9 were $3,950, and her federal Income tax withholding was $671.50. 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 computation carry amounts out to two decimal places. Round your final answer to two decimal places.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 1E
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![Employee net pay
Lindsey Vater's weekly gross earnings for the week ended March 9 were $3,950, and her federal Income tax withholding was $671.50.
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2eb4e5f0-a1f3-4d68-8694-5e510ba0ab89%2F2caa4e46-a39a-451c-be57-2b20fe5cbf04%2F4tucscc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Employee net pay
Lindsey Vater's weekly gross earnings for the week ended March 9 were $3,950, and her federal Income tax withholding was $671.50.
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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