Financial Accounting Problem Swift Manufacturing's payroll shows: gross wages $50,000, income tax withheld 20%, social security 6.2%, and Medicare 1.45%. Calculate the net pay.

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 6E: On January 21, the column totals of the payroll register for Great Products Company showed that its...
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Financial Accounting Problem
Swift Manufacturing's payroll shows: gross
wages $50,000, income tax withheld 20%,
social security 6.2%, and Medicare 1.45%.
Calculate the net pay.
Transcribed Image Text:Financial Accounting Problem Swift Manufacturing's payroll shows: gross wages $50,000, income tax withheld 20%, social security 6.2%, and Medicare 1.45%. Calculate the net pay.
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