Thomas earns $52,000 per year in salary. You pay 15% for federal income tax, no state taxes, no social security, and 1.45 % for medicare. You receive 5 days of paid vacation. What is the gross monthly salary? What is the net monthly salary (without vacation)? Thomas takes 4 days off in April to go on vacation. What is his net monthly salary for April? In September, Thomas takes 3 more days off. What is his net monthly pay for September?
Thomas earns $52,000 per year in salary. You pay 15% for federal income tax, no state taxes, no social security, and 1.45 % for medicare. You receive 5 days of paid vacation. What is the gross monthly salary? What is the net monthly salary (without vacation)? Thomas takes 4 days off in April to go on vacation. What is his net monthly salary for April? In September, Thomas takes 3 more days off. What is his net monthly pay for September?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Thomas earns $52,000 per year in salary. You pay 15% for federal income tax, no state taxes, no social security, and 1.45 % for medicare. You receive 5 days of paid vacation. What is the gross monthly salary? What is the net monthly salary (without vacation)? Thomas takes 4 days off in April to go on vacation. What is his net monthly salary for April? In September, Thomas takes 3 more days off. What is his net monthly pay for September?
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