This topic contains a solution. Click here to go to the answer

Author Question: Albert, the accountant, has been asked by his boss to calculate the net pay for each of Pinnock ... (Read 98 times)

scienceeasy

  • Hero Member
  • *****
  • Posts: 565
Albert, the accountant, has been asked by his boss to calculate the net pay for each of Pinnock Company's three employees.
 
  Albert has gathered the following information about payroll for the period:
 
   Larry Curly Moe
  Gross pay 50,000 20,000 35,000
  Federal income taxes withheld 7,500 3,000 4,000
 
  Required: Calculate the net pay for each of the employees. Assume that FICA (Social Security) taxes are withheld at the rate of 6.2 of gross pay and that Medicare taxes are withheld at the rate of 1.45 of gross pay.
  What will be an ideal response?

Question 2

The primary reasons for performing regular employee performance reviews include all of the following except:
 a. determine whether an employee is satisfying the requirements indicated by a job description
  b. assess an employee's strengths and weaknesses
  c. assist management in determining salary adjustments, promotions, or terminations
  d. develop a strategy for filling necessary positions



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

pangili4

  • Sr. Member
  • ****
  • Posts: 346
Answer to Question 1

Larry Curly Moe
Gross pay 50,000 20,000 35,000.00
Federal income taxes withheld 7,500 3,000 4,000.00
FICA withheld (.062 ) 3,100 1,240 2,170.00
Medicare withheld (.0145 ) 725 290 507.50
Net pay 38,675 15,470 28,322.50

Answer to Question 2

D




scienceeasy

  • Member
  • Posts: 565
Reply 2 on: Jul 5, 2018
Gracias!


billybob123

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

For a complete list of videos, visit our video library