John worked 43 hours last week. His hourly rate is $13.45. He has the follow taken from his pay: federal income tax at the rate of 10%, social security tax at the rate of 6.2%, medicare tax at the rate of 1.45%, health insurance premiums of $45.00, and 401(K) contributions of 5% of gross pay. Calculate John's net pay. Regular or Salary Overtime Gross Pay: Required Deductions: Federal Tax Social Security Tax Medicare Tax Voluntary Deductions: Health Insurance Union Dues Retirement Savings Other: Total Deductions: Net Pay:

John worked 43 hours last week. His hourly rate is $13.45. He has the follow taken from his pay: federal income tax at the rate of 10%, social security tax at the rate of 6.2%, medicare tax at the rate of 1.45%, health insurance premiums of $45.00, and 401(K) contributions of 5% of gross pay. Calculate John's net pay. Regular or Salary Overtime Gross Pay: Required Deductions: Federal Tax Social Security Tax Medicare Tax Voluntary Deductions: Health Insurance Union Dues Retirement Savings Other: Total Deductions: Net Pay:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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