Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he
Question:
Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $150.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($500.00), and the employer withholds the appropriate taxes for the tips from this first pay in March. 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%). Round your answers to two decimal places.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 37% (16 reviews)
tr msoheightsourceauto col msowidthsourceauto br msodataplacementsamecell style45 msonumberformat00220022 00000220022 00000220022 00220022 msostylenameCurrency msostyleid4 style0 msonumberformatGenera...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Calculate the variance. Round your answers to two decimal places, where appropriate. Variance = Enter your answer in accordance to the question statementEnter your answer in accordance to the...
-
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...
-
Bollobs and Chung proposed a hybrid model that combines a 2-ring on \(V\) vertices ( \(V\) is even), plus a random matching. A matching is a graph in which every vertex has degree 1. To generate a...
-
(a) What is the distinction between hypoeutectoid and hypereutectoid steels? (b) In a hypoeutectoid steel, both eutectoid and proeutectoid ferrite exist. Explain the difference between them. What...
-
1. Diamond/Edward Economic Probability Diamond Edward Boom 0.3 10% -12% Normal 0.5 7% 4% Recession 0.2 -3% 25% The risk free return is 3% a) What are the expected return and risk levels for each of...
-
Consider the regression model in Problem 3.43. The value of the adjusted $R^{2}$ is Data From Problem 3.43 You have fit a linear regression model with three predictors to a sample of 50 observations....
-
Using property she inherited, Myrna makes a gift of $6.2 million to her adult daughter, Doris. The gift takes place in 2015. Neither Myrna nor her husband, Greg, have made any prior taxable gifts....
-
Table 2 TIME Kesler's Fund Vogue Fund's S&P 500s (Beta) T-Bills Return % Return % Return % Return % 2015 15 10 2016 -6 -2 11 -5 6 5 2017 17 13 12 7 2018 18 9 11 6 2019 22 11 13 7 1. Solve for the...
-
Manilow Company has asked you to help create year-end journal entries. They are currently reporting $555,000.00 in accounts receivable and they have sent you a download of their accounts receivable...
-
Campbell Company's balance sheet and income statement are shown below (in millions of dollars). The company and its creditors have agreed upon a voluntary reorganization plan. In this plan, each...
-
Heather owns a two-story building. The building is used 60% for business use and 40% for personal use. During 2011, a fire caused major damage to the building and its contents. Heather purchased the...
-
The pump of a water distribution system is powered by a 15-kW electric motor whose efficiency is 90 percent. The water flow rate through the pump is 50 L/s. The diameters of the inlet and outlet...
-
Can i please have some clarification on if these journals are correct? Trial balance and adjustments are attached for reference. i. ii. iii. iv. V. vi. vii. Adjust sales revenue for $1,600 that was...
-
Explore the Types of Aid links (Federal and DSC pages) found on the Online Lecture page. Describe the differences between the types of aid and how each can assist with college costs.
-
Explore the Current DSC Tuition and Fees link found on the Lecture page. Based on the current tuition and fees listed specifically for Associate of Arts courses, how much would it cost for 12 credit...
-
Describe your current or aspiring professional identity, including your career and the field in which you work or hope to work. I would like to work in Human Resources and work with individuals who...
-
You are the payroll office of Wamco. You are new to the role. When reconciling the payroll reports, you noticed that employee Lisa Jones has had her superannuation guarantee underpaid for twelve...
-
Argue the pros and cons of eliminating standards such as test scores, grade point averages, and other objective criteria for admitting minorities and members of protected groups to universities and...
-
The electric field due to a line charge is given by where l is a constant. Show that E is solenoidal. Show that it is also conservative. E =
-
A law that restricts most vendors from doing business in a high-traffic area might be upheld under constitutional provisions covering a. equal protection. b. procedural due process. c. substantive...
-
Present Value and Multiple Cash Flows What is the present value of $2,000 per year, at a discount rate of 10 percent, if the first payment is received 9 years from now and the last payment is...
-
Variable Interest Rates a 15-year annuity pays $1,500 per month, and payments are made at the end of each month. If the interest rate is 13 percent compounded monthly for the first seven years, and...
-
Comparing Cash Flow Streams you have your choice of two investment accounts. Investment A is a 15-year annuity that features end-of-month $1,000 payments and has an interest rate of 9.5 percent...
-
respond to the following : Hi Kassim, "Given that you have successfully applied these steps to pay down your car loan faster, how would you adapt this financial plan if you were to encounter a...
-
The Impact of Artificial Intelligence in the Accounting Profession: Challenges and Opportunities: The accounting profession has been undergoing significant transformations with the advent of...
-
The following is an alphabetical list of accounts and balances for J. Robinson, proprietorship at June 30, 2024 Accounts Payable $13,300 Notes Payable $31, 800, Accounts Receivable $10, 850 Prepaid...
Study smarter with the SolutionInn App