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During the week ended May 15, 2013, Scott Fairchild worked 40 hours. His regular hourly rate is $31. Assume that his earnings are subject to social security tax at a rate of 6.20 percent and Medicare tax at a rate of 1.45 percent. He also has deductions of $48 for federal income tax and $38 for health insurance.
a. What is his gross pay for the week?
b. What is the total of his deductions for the week?
c. What is his net pay for the week?
Q. Sales returns affect both revenues and cost of good? When a company sells merchandise to customers then it transfers the cost of the merchandise from an asset account that i
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The percentage analysis of changes of corresponding items in comparative financial statements is referred to as horizontal analysis. A. True B. Fals
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