Compute the net pay for each employee using the federal income tax withholding table in Figure 7.2.
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Compute the net pay for each employee using the federal income tax withholding table in Figure 7.2. Assume that FICA OASDI tax is 6.2% on a wage base limit of $117,000; Medicare is 1.45% on all earnings, the payroll is paid biweekly, and no state income tax applies.
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Allowances Employee Alvin Pang David Parker Status Single Single Cumulative Pay $61,500 63,300 Biweekly Pay $1,680 1,600
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College Accounting A Practical Approach Chapters 1-25
ISBN: 9780133791006
13th Edition
Authors: Jeffrey Slater
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