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Amounts for betty wages for the current week

Problem: Betty Williams' regular hourly wage rate is $14.00, and she receives a wage of 11/2 times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period Betty worked 42 hours. Her gross earnings prior to the current week were $6,000. Betty is married and claims three withholding allowances Her only voluntary deduction is for group hospitalization insurance at $15.00 per week.

Instructions:

(a) Compute the following amounts for Betty's wages for the current week.

(1) Gross earnings.

(2) RCA taxes (Assume an 8% rate on maximum of $87,900.)

(3) Federal income taxes withheld. (Use the withholding table in the text, page D6.)

(4) State income taxes withheld. (Assume a 2.0% rate.)

(5) Net pay.

(b) Record Betty's pay, assuming she is an office computer operator.

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Accounting Basics: Amounts for betty wages for the current week

Reference No:- TGS01740139

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Solution Preview :

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Accounting Basics: Amounts for betty wages for the current week

Reference No:- TGS01740139

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