College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
12th Edition
ISBN: 9781305084087
Author: Cathy J. Scott
Publisher: Cengage Learning
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Steven Inverness's weekly gross earnings for the week ending
March 9 were $2,810, and her federal income tax withholding
was $505.80. Assuming the social security tax rate is 6% and
Medicare tax is 1.5% of all earnings, what is Inverness's net
pay? If required, round your answer to two decimal places.
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Transcribed Image Text:Steven Inverness's weekly gross earnings for the week ending March 9 were $2,810, and her federal income tax withholding was $505.80. Assuming the social security tax rate is 6% and Medicare tax is 1.5% of all earnings, what is Inverness's net pay? If required, round your answer to two decimal places.
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