Lindsey Vaters weekly gross earnings for the week ended March 9 were $800, and her federal income
Question:
Lindsey Vater’s weekly gross earnings for the week ended March 9 were $800, and her federal income tax withholding was $128.96. Assuming the social security tax rate is 6% and Medicare tax is 1.5% of all earnings, what is Lindsey’s net pay?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
Total wage payment 80000 Deductions Federal income tax ...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Question Posted:
Students also viewed these Business questions
-
Bella Chen's weekly gross earnings for the week ended October 20 were $2,600, and her federal income tax withholding was $554.76. Assuming the social security rate is 6% and Medicare is 1.5% of all...
-
Todd Thompson's weekly gross earnings for the week ended May 23 were $1,400, and his federal income tax withholding was $247.90. Assuming the social security rate is 6% and Medicare is 1.5% of all...
-
Matthew Burdicks weekly gross earnings for the week ended April 18 were $2,000, his provincial income taxes were $125.14, and his federal income taxes were $271.05. Assuming his CPP contribution is...
-
What have researchers found about the use of job costing to record the cost of handproducing a bound book?
-
Su Ltd. acquired an excavator on January 1, 2017, for 10,000 (all amounts in thousands). This excavator represents the company's only piece of equipment, and Su chooses revaluation accounting. This...
-
Sketch the region enclosed by the given curves and find its area. x*, 2*, + 3, >0
-
Are the large oligopolistic bakers and the small bakers catering for the same market?
-
The periodic inventory records of Synergy Prosthetics indicate the following at July 31: At July 31, Synergy counts two units of inventory on hand. Requirement 1. Compute ending inventory and cost of...
-
Colette consumes goods x and and. Its indifference curves are described by the formula y= k/(x+2). Higher values of k correspond to better indifference curves. Colette hates x and likes good and More...
-
The county administrator is trying to decide whether to replace the old equipment. Because of rapid changes in technology, she expects the replacement equipment to have only a 3-year useful life....
-
The payroll register of Heritage Co. indicates $4,200 of social security withheld and $1,050 of Medicare tax withheld on total salaries of $70,000 for the period. Federal withholding for the period...
-
On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of $225,000. a. Determine the proceeds of the note, assuming the note carries an interest rate of...
-
Show that Theorem 5.7 is still valid, if \(\left(G_{n}ight)_{n \in \mathbb{N}} \subset \mathscr{G}\) is not an increasing sequence but any countable family of sets such that \[\text { (1) }...
-
Two current carrying conductors are placed parallel to each other. The distance between them is d. If the current in the first conductor drops by half of its original value and the current in the...
-
find out the expected cash position at the end of month 2. Month 2 Month 3 Using the data. Opening position Total receipts Total payments Net cash flow Month 1 cash -$600 Closing position $3020 $4680...
-
What is the reason that banks and lending organisations use a loan pricing model?
-
Flames Company reported net income for the current year of $15,400,000. It had 3,500,000 shares outstanding throughout the year. Flames also had 772,000 options outstanding all year with an exercise...
-
What is a companies TIE Ratio if there net income is $7175 there interest expense is ($1128) and there income tax expense is 1894?
-
For the year ending December 31, 2020, Sanjay Company accumulates the following data for the plastics division, which it operates as an investment centre: contribution margin $700,000 budgeted,...
-
You are the newly appointed tax practitioner to complete Emilys tax return and have downloaded the prefill report for Emilys tax return (hint, you can read what a prefill report is here (Links to an...
-
General Electric Capital, a division of General Electric, uses long-term debt extensively. In a recent year, GE Capital issued $11 billion in long-term debt to investors, then within days filed legal...
-
Which type of cost system, process or job order, would be best suited for each of the following: (a) TV assembler, (b) Building contractor, (c) Automobile repair shop, (d) Paper manufacturer, (e)...
-
Which type of cost system, process or job order, would be best suited for each of the following: (a) TV assembler, (b) Building contractor, (c) Automobile repair shop, (d) Paper manufacturer, (e)...
-
explain the solution: ACCT 223 1) * Anderson Corporation had the following information for the month ended September 30, 2023: The balance per the company's general leder at 9/30 was $100,000. The...
-
Code needs to be changed to pass test cases provided. Students will apply concepts of advanced Backtracking. Your solution for each test case must run within 0.31 seconds. Otherwise, no credit will...
-
An abstract class is ____________. 1: a class with all overriding methods 2:a class that has nothing but pure virtual methods 3:a class with all virtual methods 4:a class that has at least one pure...
Study smarter with the SolutionInn App