During the month of July, Joe Morgan earned $2,000. Joe is on the payroll at a salary
Fantastic news! We've Found the answer you've been seeking!
Question:
During the month of July, Joe Morgan earned $2,000. Joe is on the payroll at a salary of $2,000 per month, which is paid at the end of each month. Assume that FICA taxes are 7.65% of wages (Social Security 6.2% + Medicare 1.45% = FICA 7.65%) and that Joe has voluntary withholdings of $45 for his retirement plan and $30 for health insurance premiums. Federal and state income tax withholdings are $300 and $100, respectively. What amount did Joe receive in his check, net of all deductions, for his July pay?
Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date: