One of Hope's coworkers quits, and during the next pay period, Hope works 60 hours instead of 40 to help cover the shifts. Which of the following will definitely change as a result? COMPANY NAME Some Corporation 123 Somewhere Drive, Durham, NC 12345 SSN EMPLOYEE ID 98856 xxxx-xxx-6789 CURRENT TOTAL HOURS 40 600.00 EMPLOYEE NAME Hope Marie Kingsley INCOME GROSS WAGES YTD GROSS 5,400.00 RATE 15.00 YTD DEDUCTIONS 2,836.89 her health insurance her Federal taxes her dental insurance her retirement YTD NET PAY 2,563.11 CHECK NO. 98765 DEDUCTIONS FICA MED TAX FICA SS TAX FED TAX NC ST TAX HEALTH DENTAL RETIREMENT CURRENT TOTAL 600.00 EARNINGS STATEMENT PAY PERIOD 5/1/2020-5/15/2020 CURRENT DEDUCTIONS 315.21 CURRENT TOTAL 8.70 37.20 90.00 34.50 $76.58 $8.23 $60.00 NET PAY 284.79 PAY DATE 5/21/2020 YEAR-TO-DATE 78.30 334.80 810.00 310.50 $689.22 $74.07 $540.00 "Excluded from federal taxable wage
One of Hope's coworkers quits, and during the next pay period, Hope works 60 hours instead of 40 to help cover the shifts. Which of the following will definitely change as a result? COMPANY NAME Some Corporation 123 Somewhere Drive, Durham, NC 12345 SSN EMPLOYEE ID 98856 xxxx-xxx-6789 CURRENT TOTAL HOURS 40 600.00 EMPLOYEE NAME Hope Marie Kingsley INCOME GROSS WAGES YTD GROSS 5,400.00 RATE 15.00 YTD DEDUCTIONS 2,836.89 her health insurance her Federal taxes her dental insurance her retirement YTD NET PAY 2,563.11 CHECK NO. 98765 DEDUCTIONS FICA MED TAX FICA SS TAX FED TAX NC ST TAX HEALTH DENTAL RETIREMENT CURRENT TOTAL 600.00 EARNINGS STATEMENT PAY PERIOD 5/1/2020-5/15/2020 CURRENT DEDUCTIONS 315.21 CURRENT TOTAL 8.70 37.20 90.00 34.50 $76.58 $8.23 $60.00 NET PAY 284.79 PAY DATE 5/21/2020 YEAR-TO-DATE 78.30 334.80 810.00 310.50 $689.22 $74.07 $540.00 "Excluded from federal taxable wage
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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What is the answer to the question?
Transcribed Image Text:One of Hope's coworkers quits, and during the next pay period, Hope works 60 hours instead of 40 to help cover the shifts.
Which of the following will definitely change as a result?
COMPANY NAME
Some Corporation 123 Somewhere Drive, Durham, NC 12345
EMPLOYEE NAME
SSN
Hope Marie Kingsley
XXXX-XX-6789
EMPLOYEE ID
98856
CURRENT TOTAL
HOURS
40
600.00
INCOME
GROSS WAGES
YTD GROSS
5,400.00
RATE
15.00
YTD
DEDUCTIONS
2,836.89
her health insurance
her Federal taxes
her dental insurance
her retirement
YTD NET PAY
2,563.11
CHECK NO.
98765
DEDUCTIONS
FICA MED TAX
FICA SS TAX
FED TAX
NC ST TAX
HEALTH
DENTAL
RETIREMENT
CURRENT TOTAL
600.00
EARNINGS STATEMENT
PAY PERIOD
5/1/2020-5/15/2020
CURRENT
DEDUCTIONS
315.21
CURRENT TOTAL
8.70
37.20
90.00
34.50
$76.58
$8.23
$60.00
PAY DATE
5/21/2020
YEAR-TO-DATE
78.30
334.80
810.00
310.50
$689.22
$74.07
$540.00
NET PAY
284.79
"Excluded from federal taxable wage
Expert Solution
Introduction
An earnings statement can be referred to as the payment slip or financial record of the payment extended by the employer to the employee. It consists of the wages earned by the employee in accordance with the number of hours completed in a period say month or week. The statement also consists of deductions such as taxes payables, health insurance premiums, retirement contributions, dental cover, etc.
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