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K.S. Perez pays a 12% average tax rate on gross pay in federal taxes. K.S. also pays $100 into a 401k retirement fund each pay period and pays a $200 per-pay-period contribution to an employer-subsidized health insurance policy. Complete K.S.'s earnings statement below. Round your answers to the nearest dollar.

K.S. Perez pays a 12% average tax rate on gross pay in federal taxes. K.S. also pays $100 into a 401k retirement fund each pay period and pays a $200 per-pay-period contribution to an employer-subsidized health insurance policy. Complete K.S.'s earnings statement below. Round your answers to the nearest dollar.

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 1PA
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K.S. Perez pays a 12% average tax rate on gross pay in federal taxes. K.S. also pays $100 into a 401k retirement fund each pay period and pays a $200 per-pay-period contribution to an employer-subsidized health insurance policy. Complete K.S.'s earnings statement below. Round your answers to the nearest dollar. K.S. Perez Earnings Hours 80 GROSS PAY Rate 25.00 This period Pay period: 1/01/21 - 1/15/21 YTD Required Deductions Federal income tax Virginia income tax FICA Social Security FICA Medicare Other Deductions Health Insurance 401K Contribution NET PAY
Transcribed Image Text:K.S. Perez pays a 12% average tax rate on gross pay in federal taxes. K.S. also pays $100 into a 401k retirement fund each pay period and pays a $200 per-pay-period contribution to an employer-subsidized health insurance policy. Complete K.S.'s earnings statement below. Round your answers to the nearest dollar. K.S. Perez Earnings Hours 80 GROSS PAY Rate 25.00 This period Pay period: 1/01/21 - 1/15/21 YTD Required Deductions Federal income tax Virginia income tax FICA Social Security FICA Medicare Other Deductions Health Insurance 401K Contribution NET PAY
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