What is the gross pay for the employee

Assignment Help Accounting Basics
Reference no: EM131584727

Question - An employee receives an hourly rate of $22, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 47 federal income tax withheld, $352 cumulative earnings for year prior to current week, $98,624 social security tax rate, 6.0% on maximum of $110,521 and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee?

Reference no: EM131584727

Questions Cloud

Explore the process map and sipoc model : Analyze the process map and SIPOC model to identify possible main root causes of the problems.
Oil reserve affect the as curve for the long-run : Would discovering a large oil reserve affect the AS curve for the long-run, short-run, or both? Explain.
High quality date catch in order to effectively signal : How many PokÈmon would a low quality date be willing to catch to earn a date with my daughter? How many PokÈmon must a high quality date catch in order.
System of equations by cramers rule : Transform the equations in quadratic form and hence solve it - Solve the system of equations by Cramers rule
What is the gross pay for the employee : An employee receives an hourly rate of $22, with time and a half for all hours worked in excess of 40 during a week. What is the gross pay for the employee
Describe the experience in the project : Describe the experience in the project. What conclusions can you draw from the problem-solving or process-improvement techniques?
Omi and winant say that race is a social concept : Omi and Winant say that race is a social concept, not a biological one. Explain this idea and how it relates to the readings by Brodkin, Ngai, Sethi, Portes
How the subsets of ducks interact : Show, by induction, that a polygon formed by n arbitrarily chosen points on a circle has exactly n edges.
How much revenue would ebay recognize at the time of sale : Assume eBay promised to pay $200 to the supplier regardless of whether the bicycle is sold, How much revenue would eBay recognize at the time of the sale? Why

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.

  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!

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