Please write a four-to-six sentence paragraph on the following questions.
What is the difference between an exempt and non-exempt employee?
How would you decide whether to hire someone as an employee or independent contractor?
Cindy Lou makes $30,000 per year as an exempt employee. She worked 15 hours of overtime in the month of September. Payday for wages earned in the month of September is October 7. Ignoring Federal and State income tax withholdings, how much would she receive for
September net of Social Security and Medicare taxes? What journal entry would be made on September 30 for wages owed to Cindy? What journal entry would be made when she is paid on October 7?