Employee net pay. Wilrn/takeAssignment/takeAssigneBookShow Me HowLindsey Vater's weekly gross earnings for the week ended March 9 were $2,780, and her federal income tax withholding was $472.60. Assumingthe 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 amountsout to two decimal places. Round your final answer to two decimal places.Employee net pay13Check My WorkPreviousNext

Step 1: The formula to compute the net pay is as follows, Gross earnings - deductions Step 2:…

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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 3E

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Employee net pay Lindsey Vater's weekly gross earnings for the week ended March 9 were $2,980, and her federal income tax withholding was $536.40. 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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