John Doe is married and claims 3 withholding allowances. He collects overtime pay, when he work over 40 hours in a week. If his gross pay is $1,306.88, determine his weekly net earnings. Use the following deductions: FWT (Percentage Method), FICĂ 6.2%, Medicare 1.45%, SDI 1%, Health Insurance (/week), Union Dues (4.50/week), and Trust Fund (95/week).

Q: Jerrod smiths gross earnings this pay period were $1350 . Jerrod is paid weekly and he is single…

A: Payroll refers to the payment to be made by the employer to the employees for the services rendered…

Q: 2. Jonathan Olsen earns $9.10/hour, and worked 47 hours during the most recent week. He participates…

A: A payroll register is maintained by the employee. In this register, the employee records the details…

Q: John Doe is married and claims 3 withholding allowances. He collects overtime pay when he works over…

A: Weekly net earnings are calculated by deducting all the taxes including FWT, FICA, Medicare, SI,…

Q: Jordan earns $55,945 per year and is paid semi-monthly how much would jordan pay for Medicare tax?

A: Tax refers to the amount charged by the government on the earnings earned by the individual or…

Q: Don Beldon earns $7.50/hour, and worked 43 hours during the most recent week. He participates in a…

A: The tax withholding is recognized into types of withholding by the employer : Federal…

Q: Lee Sutherlin is a self-employed electrical consultant. He estimates his annual net earnings at…

A: Social Security tax = Annual net earnings x Social Security tax rate Medicare tax  = Annual net…

Q: What is Leah’s total annual compensation?

A: The total annual compensation of Leah would consists of annual salary plus employer's contribution.…

Q: During a recent week, Charlie Scott works 37 regular hours. He earns $9/hour and contributes 3% of…

A: Taxable income is the portion of your gross income that the IRS deems subject to taxes. It consists…

Q: Hinda works for LMN in Nova Scotia and earns an annual salary of $70,000.00 paid on a bi-weekly…

A: Answer:

Q: Lukas Douglas' filing status is married filing separately, and he has earned gross pay of $2,100.…

A: Earned gross pay = $2100 Contribution = 11% x 2100 = $231 Flexible pay spending = $80   Gross pay…

Q: Lee Sutherlin is a self-employed electrical consultant. He estimates his annual net earnings at…

A: The question is based on the concept of social security security tax withholding on wage and…

Q: Abigail Trenkamp owns and operates the Trenkamp Collection Agency. Listed below are the name, number…

A: Given: Trenkamp uses a weekly federal income tax withholding table. Social Security tax is withheld…

Q: Matilda works for a company with 1,000 employees. The company has a hospitalization insurance plan…

A: (1) Employee must pay the first $3,000 of their Medical Expenses. (2) Matilda's Employer has…

Q: Cordelia is an employee of Snaktyme Foods in Missouri. She earns $23,700 annually. Snaktyme has…

A: Given information, Annual earning = $23,700 Worth of uniform = $200 Training worth = $760…

Q: Frederick is married, he earned $2,655 last week, and had year-to-date earnings of $141,344. Use…

A: An employee who makes $141,344 a year . Though Medicare tax is due on the entire salary, only the…

Q: Paquito, a university instructor, earns a gross monthly salary of ₱46,200.00. Paquito is married and…

A: Net income is the final income received the employee from the employer after deducting all…

Q: Ann earns $95,000 per year in salary. She pays 25% federal income tax, 6% state income tax, 6.2%…

A: The question is based on the calculation of gross monthly income and net monthly income . Net income…

Q: Dustin Ambrose is married and claims 3 allowances. His gross weekly pay is $628.00. Each week he…

A: Net Pay: Net Amount receivable after all the deductions.

Q: Paul works 5 days a week (Monday to Friday), 8 hours per day. He is paid $27.50 per hour. He is paid…

A: Answer:-  Group term life insurance definition:- As the name implies, a group term life insurance is…

Q: Maile is a full-time exempt employee in Boca Raton, Florida, who earns $1,559.15 per biweekly…

A: GIVEN DATA   Maile is a full-time exempt employee in Boca Raton, Florida, who earns $1,559.15 per…

Q: Suppose Alexa has a weekly paycheck with gross earnings of $1,234.00 and is single with no…

A: Under wage bracket method, federal withholdings are calculated on the basis of number of allowances,…

Q: Penny is paid a gross wage of $2,846 on a monthly basis. She is single and is entitled to 2…

A: Exhibit 9-3

Q: Dustin Ambrose is married and claims 3 allowances. His gross weekly pay is $628.00. Each week he…

A: There are 2 methods for calculating the federal tax withholding:- Wage bracket method or Percentage…

Q: Francisco's gross income this year is $29,550. His employer withholds $55 per month to pay for his…

A: The taxable income is used to calculate the total gross income which is deduct with the employer pay…

Q: nirley Riddle earns $2,333 biweekly. She is single and claims no withholding allowances. She saves…

A: Net salary is the total salary one gets after all the mandatory deductions such as taxed that are…

Q: Giana Balley works for JMK all year and eams a monthly salary of $11,800 There is no overtima,pay…

A: Social tax security is a compulsory contribution of employer and employee. It funds the retirement,…

Q: Joanne Keating, who is paid S2,200.00 bi-weekly, also receives the following in addition to her…

A: Insurance offers a security from any kind of miss happening in future by offering a claim offered to…

Q: Lee Sutherlin is a self-employed electrical consultant. He estimates his annual net earnings at…

A: The social security tax rate is 6.2% per year multiplied by 2.   The withholding social security…

Q: rmine his weekly

A: Weekly net earnings are calculated by deducting all the taxes including FWT, FICA, Medicare, SI,…

Q: Paquito, a university instructor, earns a gross monthly salary of ₱46,200.00. Paquito is married and…

A: Tax is financial charge or levy imposed by the government or taxation authorities of the country to…

Q: Mike Mays is a waiter at the Dixie Motel. In his first weekly pay in March, he earned $360 for the…

A: Payroll accounting is one of accounting system which is used by business entities to record the…

Q: Jacob Finney's filing status is single, and he has earned gross pay of $1,240. Each period he makes…

A: Medicare Tax- It is one of the component of FICA Tax. The current medicare tax rate is 2.90%. out of…

Q: If his gross pay is $1,306.88, determine his weekly net earnings

A: Given information is: Gross pay= $1306.88 Deductions are also given.

Q: 1. Luisa Williams earns $7.50/hour, and worked 44 hours during the most recent week. She makes a…

A: We are required to compute the Deduction amount for  Social security, Medicare, and Voluntary…

Q: Paquito, a university instructor, earns a gross monthly salary of ₱46,200.00. Paquito is married and…

A: Net income per month = 46200 - 590 - 397.50 - 100 - 4300 = 40812.50 Net income per year = 40812.50 *…

Q: Rick Portnoy's filing status is head of household, and he has earned gross pay of $1,300. Each…

A: Given,   Current year taxable earnings for Medicare tax = $ 206,100

Q: Determine Miller's take-home pay if she is married and claims 2 allowances (use the wage-bracket…

A: Payroll:   The total payment that a company is required to pay to its employee for the services…

Q: Herman Swayne is a waiter at the Dixie Hotel. In his first weekly pay in March, he earned $360.00…

A: Under the wage payment method of withholding taxes, federal taxes are withheld as per the rates…

Q: 4. Juan Rodriguez earns $14.00/hour, and worked 48 hours during the most recent week. He makes a…

A: We are required to compute the Deduction amount for  Social security, Medicare, and Voluntary…

Q: Mang Carding is a minimum wage earner. To augment his earnings, he put up a mini store under his…

A: 1) The income received from 13th and 14th month will not be taken from taxable value , due to that…

Q: Sammy's employer pays for 40% of her annual health insurance premium of $5,150.00. Sammy pays the…

A: As the employer is paying 40% of the premium Sammy will pay the balance of 100% - 40% = 60%

Q: Hank earns​ $18.50 per hour with timeandahalf for hours in excess of 40 per week. He worked 44 hours…

A: Hank's net pay for the week is calculated as below:

Q: Stephen Belcher's filing status is single, and he has earned gross pay of $1,840. Each period he…

A: Answer: Gross pay = $1840 Flexible spending account = 1840*3% = 55.20Taxable Earnings for Medicare…

Q: In this chapter, we learned that FICA mandates that employers deduct taxes from employees' pay each…

A: Since the year for the calculation of taxes is not given it is taken as Year 2022.

Q: Ian McCarthy works for Willow Tree Homes. His rate of pay is $16.00 per hour and he is paid one and…

A: Regular Pay (40*16) $640.00 Overtime pay (5*16*1.5) $120.00 Gross pay $760.00 Net pay…

Q: Karen’s Moore is married, claims five withholding allowances, and earns $3,500 per month. In…

A: State tax = gross pay * tax rate = 3500 * 2.1% = $73.5 State disability insurance = gross pay * 1/2…

Q: Brody’s gross monthly salary amounts to ₱34,600.00 per month subject to the following deductions:…

A: Income tax is a direct tax charged by the central or state government authority on the total income…

Q: Addidas Co. pays $190 per month for Jay's insurance, $22 per month for his disability insurance, and…

A: Journal entries are the entries to be recorded in the accounting books of the business for all the…

Q: Luis Barillas and his wife, Dora, have been married for two years and have a 1-year-old son. They…

A: Disability income insurance:- The term disability income (DI) insurance refers to a type of…

Q: Don Beldon earns $7.50/hour, and worked 43 hours during the most recent week. He participates in a…

A: The wage tax bracket method is used for calculating the tax retention of employee's tax…

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.