Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he
Question:
Calculate his net take-home pay assuming the employer withheld federal income tax (wage-bracket, married, 2 allowances), social security taxes, and state income tax (2%).
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 86% (15 reviews)
Gross pay 15000 Federal incom...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Ben Lieber is a waiter at the Harbor House, where he receives a weekly wage of $80.00 plus tips for 40 hour workweek. Lieber's weekly tips usually range from $280 to $400. A) Under the fair labor...
-
Bert Garro is a waiter at La Bron House, where he receives a weekly wage of $75 plus tips for a 40-hour workweek. Garro's weekly tips usually range from $300 to $350. a. Under the Fair Labor...
-
Herman Swayne is a waiter at the Dixie Hotel. In his first weekly pay in March, he earned $160.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($700.00),...
-
Marta purchased a home with an adjustable rate mortgage. The margin on an adjustable-rate mortgage is 5.5% and the rate cap is 6.5% over the life of the loan. If the current index rate is 8.9%, find...
-
Display all subassemblies manufactured by Sears that require more than 1 unit?
-
A survey conducted by CBS News asked 1,026 respondents: What would you do with an unexpected tax refund? The responses are summarized in the following table. Pay of debts ..... 47% Put it in the bank...
-
Water at \(290 \mathrm{~K}\) and \(0.25 \mathrm{~kg} / \mathrm{s}\) flows through a Teflon tube \((k=0.35 \mathrm{~W} / \mathrm{m} \cdot \mathrm{K})\) of inner and outer radii equal to 10 and \(14...
-
The Classic Furniture Company is trying to determine the optimal quantities to make of six possible products: tables and chairs made of oak, cherry, and pine. The products are to be made using the...
-
Using the "alternative" flexibility equation for design of expansion loops, calculate the depth of a loop for a steel pipeline installed between two fixed anchors for a 10" pipe (OD: 273.1 mm, wall...
-
A cast iron pipe with 20 cm diameter and 15 mm wall thickness is carrying water from a reservoir. At the end of the pipe a valve is installed to regulate the flow. The following data are available: e...
-
Justin Holmes, an ex-employee, is entitled to a taxable fringe benefit during the first part of this year. Because he wasn't paid any wages this year, can his employer report the taxable fringe...
-
Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. The 2012 federal income tax tables and 2012 FICA rates have been used. No. of...
-
Find Vo in the network infigure. 4/0 A -j1 0 21 j1a 13 Ve ww
-
Why would a researcher choose to conduct nonexperimental research? What are the strengths and weaknesses associated with this type of research? Can cause and effect be established via this type of...
-
What type of validity should be considered 'when using the observational approach?
-
Discuss the importance of validity and research design. Next, choose one type of validity (internal, external, construct, or statistical conclusion) and discuss its relevance to experimental, quasi...
-
What is the major difference between a cross-sectional and a longitudinal design?
-
Define a sampling strategy.
-
Find the vertices and foci of the conic section. X 2 + 1
-
Imagine a sound wave with a frequency of 1.10 kHz propagating with a speed of 330 m/s. Determine the phase difference in radians between any two points on the wave separated by 10.0 cm.
-
What is the maximum charitable contribution allowance for corporations? Is there a carryover to other years?
-
Nic is an accountant for a large, multinational firm. During payroll processing, he notices that the new state payroll tax updates have not been installed in the firm's software. What ethical...
-
Janet manages a regional office of a large multinational company. She maintains the records for all personnel in the region, including sales, administrative, and manufacturing workers. Which...
-
Roxie is the payroll administrator for a small company. Because of economic conditions, her boss has assigned her the additional duties of office management, and Roxieis considering outsourcing her...
-
The partners mehak and simran share in the profits and losses equally and their capital accounts have credit balance s of 1 5 0 0 0 and 2 5 0 0 0 respectively. The account balances for Mehak and...
-
LNS Corporation reports book profit of $ 2 , 0 0 0 , 0 0 0 . The $ 2 , 0 0 0 , 0 0 0 included $ 1 5 , 0 0 0 of tax exempt interest income, a capital loss of $ 2 , 0 0 0 , depreciation expense of $ 6...
-
Maggie Vitteta, single, works 3 8 hours per week at $ 1 9 . 0 0 an hour. How much is taken out for federal income tax?
Study smarter with the SolutionInn App