FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Anderson Brown worked 39 hours during the first week of the calendar year and earns regular wages of $15/hour. Assuming that she requests that 4% of her gross pay be contributed to a 401(k) plan and that she contributes $25 per week to a dependent-care flexible spending account, her Social Security tax for the week is $_____.

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Social Security Tax:- Social Security tax is imposed on both the employee and employer of the firm in order to contribute in various social security programs. This tax is paid for the retirement benefits, and for any disability of individual. The current social security tax is 6.20% of compensation.

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