Precision Labs has two employees. The following information was taken from its individual earnings records for the
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Precision Labs has two employees. The following information was taken from its individual earnings records for the month of September. Determine the missing amounts assuming that the Social Security tax is 4.2 percent and the Medicare tax is 1.45 percent. All earnings are subject to Social Security and Medicare taxes. Round amounts to the nearestpenny.
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Brown Ringness Total Regular earnings Overtime earnings Total earnings Federal income tax withheld State income tax withheld Social Security tax withheld Medicare tax withheld Charity withheld Total deductions Net pay $3,500.00 120.00 _ $3,646.00 ? 268.07 153.13 52.87 35.00 26.37 11500 39.70 97.00 562.68 409.94 $? 2.328.06 ?
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Brown Ringness Total Regular earnings 350000 261800 611800 Overtime earnings 14600 1...View the full answer
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College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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