User Account

All Pages

Determine the gross pay for the week

Assignment Help Accounting Basics
Reference no: EM131866421

Question - Calculate Payroll

An employee earns $28 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 60 hours during the week, and that the gross pay prior to the current week totaled $40,600. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and federal income tax to be withheld was $451.

a. Determine the gross pay for the week.

b. Determine the net pay for the week.

Reference no: EM131866421

Questions Cloud

Prepare the journal entry to record the payroll tax expense : Prepare the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank
Recommendation and a conclusion in business report writing : What do you put in a recommendation section of a report, and what do you put in a conclusion section of a report?
Why microsoft has not been able to achieve the same success : Provide five reasons why Microsoft has not been able to achieve the same success that Apple has.
Primary or secondary sources : How might a tertiary source be useful for report research? Why might it not be as useful as primary or secondary sources?
Determine the gross pay for the week : An employee earns $28 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Determine the gross pay for the week
Difference between primary and secondary source materials : What is the difference between primary and secondary source materials? Which is preferable in business writing, and why?
Primary and secondary source materials : What is the difference between primary and secondary source materials? Which is preferable in business writing, and why?
What are the three types of longer reports : What are the three types of longer reports, and what do they have in common with one another? How do they differ?
What is the maturity value of the note : Westwood Company discounted the note at the First National Bank. The bank charged a discount rate of 12 percent. What is the maturity value of the note

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd