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An employee earns $ 40 per hour and 1.75 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 $ 58,000. 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 $ 714.
a. Determine the gross pay for the week.b. Determine the net pay for the week.
michaels company segments its income statement into its east and west divisions. the companys overall sales
The finance managers of Long Bow, Inc. collected the following information for their firm: Total Assets = $60,000; Current Assets = $20,000; Long-term Liabilities = $200,000; Current Liabilities = $10,000. The Current Ratio = ___
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On March 3, Hinckley Appliances sells $580,000 of its receivables to Marsh Factors Inc. Marsh Factors assesses a finance charge of 3% of the amount of receivables sold. Prepare the entry on Hinckley Appliances' books to record the sale of the rece..
lucas gives his mother karen 15000 a year for karen to help pay for the cost of living. karen also receives in addition
The partners of JPG Partnership want to change the form of entity from a partnership to a corporation. The corporation can be formed in several ways: The partnership can distribute the assets to the partners who then contribute the assets to the c..
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