Calculate the net pay. The balance before this weekly payroll is $90 below maximum as related to cumulative earnings in calculatingSocial Security. Assume a tax rate of 6.2% for Social Security on $142,800 and 1.45% for Medicare.Note: Round your answers to the nearest cent.Answer is not complete.NameMarital StatusGrossFITSocialSecurityMedicareNet PayB BurnsMarr FilingSepar$9005.58 S13.05

After deductions from gross pay, net pay is the amount of remuneration that remains distributable to…

Answered: Calculate the net pay.

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Accounting

Calculate the net pay.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter9: Payroll Accounting: Employer Taxes And Reports

Section: Chapter Questions

Problem 7SPB: CALCULATING PAYROLL TAXES EXPENSE AND PREPARING JOURNAL ENTRY Selected information from the payroll...

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Question

Calculate the net pay. The balance before this weekly payroll is $90 below maximum as related to cumulative earnings in calculating
Social Security. Assume a tax rate of 6.2% for Social Security on $142,800 and 1.45% for Medicare.
Note: Round your answers to the nearest cent.
Answer is not complete.
Name
Marital Status
Gross
FIT
Social
Security
Medicare
Net Pay
B Burns
Marr Filing
Separ
$
900
5.58 S
13.05

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