please provide answer Steven Inverness's weekly gross earnings for the week endingMarch 9 were $2,810, and her federal income tax withholdingwas $505.80. Assuming the social security tax rate is 6% andMedicare tax is 1.5% of all earnings, what is Inverness's netpay? If required, round your answer to two decimal places.

Step 1: Define Income Tax:Employer-employee relations are between an employer and an employee,…

Answered: Steven Inverness's weekly gross…

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 3E

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Steven Washington's weekly gross earnings for the week ending March 9 were $1,490, and her federal income tax withholding was $268.20. Assuming the social security tax rate is 6% and Medicare tax is 1.5% of all earnings, what is Washington's net pay? If required, round your answer to two decimal places.________________
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Baker Green's weekly gross earnings for the week ending December 7 were $3,200, and her federal income tax withholding was $384. Assuming the social security rate is 6.0%, the Medicare rate is 1.5%, and all earnings are subject to FICA taxes, what is Green's net pay? Round your answer to the nearest whole dollar. ?
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Calculate FICA Taxes. Please answer question correctly. All calculations should be rounded to two decimal places at each calculation.

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