This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Robert, the accountant, has to calculate the net pay for each of Dotson Company's three employees. ... (Read 40 times)

tiara099

  • Hero Member
  • *****
  • Posts: 588
on: Jul 5, 2018
Robert, the accountant, has to calculate the net pay for each of Dotson Company's three employees.
 
  Robert has gathered the following information about payroll for the period:
 
   Ken Barbie Skipper
  Gross pay 60,000 40,000 38,000
  Federal income taxes withheld 8,500 5,500 4,500
 
  Required: Calculate the net paycheck for each of the employees. Assume that FICA (Social Security) taxes are withheld at the rate of 6.2 of gross earnings and that Medicare taxes are withheld at the rate of 1.45 of gross earnings.
 
  What will be an ideal response?

Question 2

A control plan that is designed to detect a fraud by having one employee periodically do the job of another employee is called:
 a. segregation of duties
  b. forced vacations
  c. periodic audits
  d. management control


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

SeanoH09

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 5, 2018
Answer to Question 1

Ken Barbie Skipper
Gross pay 60,000 40,000 38,000
Federal income taxes withheld 8,500 5,500 4,500
FICA withheld (.062 ) 3,720 2,480 2,356
Medicare withheld (.0145 ) 870 580 551
Net pay 46,910 31,440 30,593

Answer to Question 2

B


tiara099

  • Member
  • Posts: 588
Reply 2 on: Jul 5, 2018
Excellent

recede

  • Member
  • Posts: 315
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

This lithograph by Currier and Ives gives an erroneous impression of the “battle.” Major Robert Ande This lithograph by Currier and Ives gives an erroneous impression of the “battle.” Major Robert Ande
Robert Rauschenberg, Monogram. Robert Rauschenberg, Monogram.
How to calculate annuity when compounded quarterly (Part 2) How to calculate annuity when compounded quarterly (Part 2)
How to calculate simple interest (Part 5; r = I/Pt) How to calculate simple interest (Part 5; r = I/Pt)
How to calculate the probability of complementary events How to calculate the probability of complementary events
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
Video: HDL (high density lipoprotein)

For a complete list of videos, visit our video library