Blake Company has ten employees who each earn $160 per day. If they accumulate vacation time...
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Blake Company has ten employees who each earn $160 per day. If they accumulate vacation time at the rate of 1.5 vacation days for each month worked, the amount of vacation benefits that should be accrued at the end of the month is? Mike Kohl, an employee of Spottswood Company, has gross earnings for the month of October of $6,000. FICA taxes are 8% of gross earnings, federal income taxes amount to $952 for the month, state income taxes are 2% of gross earnings, and Mike authorizes voluntary deductions of $15 per month to the United Fund. What is the net pay for Mike Kohl? Blake Company has ten employees who each earn $160 per day. If they accumulate vacation time at the rate of 1.5 vacation days for each month worked, the amount of vacation benefits that should be accrued at the end of the month is? Mike Kohl, an employee of Spottswood Company, has gross earnings for the month of October of $6,000. FICA taxes are 8% of gross earnings, federal income taxes amount to $952 for the month, state income taxes are 2% of gross earnings, and Mike authorizes voluntary deductions of $15 per month to the United Fund. What is the net pay for Mike Kohl?
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SOLUTION Calculation of vacation benefits accrued Each employee earns 160 per day ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-1118300855
10th Canadian Edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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