Kimmel, Financial Accounting, Be FINANCIAL ACCT (ACCT Brief Exercise 10-5 Your a

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Kimmel, Financial Accounting, Be FINANCIAL ACCT (ACCT Brief Exercise 10-5 Your answer is partially correct. Try again, betsy Strand's regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay peried, Betsy works 46 houn Betsy's federal income tax withholding is $87, and she has no voluntary deductions Compute Betsy Strand's gross earnings and net pay for the pay perod. Assume that the F??? tax rate is 7.65%. (Round answers to 2 decimal places eg. isis) Betsy Strand's gross earnings Petsy Strand's net pay By accessing this Question Assistance, you wil learn while you eam points based on the Point Potential Pollcy set by your instructor Question Attempts: 3 of 5 used SAVE POR LATER version 4.2 0

Explanation / Answer

Computation of Betsy's Net Pay Gross Earning $980.00 Less: FICA Taxes Payable ($980*7.65%) -$74.97 Less: Federal Income Taxes Payable -$87.00 Betsy Strand's Net Pay $818.03

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