Question 1

Rick O'Shea, the only employee of Hunter Furniture Company, makes $30,000 per year and is paid once a month. For the month of July, his federal income taxes withheld are $180, state income taxes withheld are $37, social security is 6.2%, Medicare tax is 1.45%, State Unemployment Tax is 4%, and Federal Unemployment tax is .8%. What is Rick's net pay for July?

Accepted Answer

A)   $2,500.00
B)   $2,283.00
C)   $2,308.75
D)   $2,091.75E) A) and C)
F) None of the above

Question 2

If an employee works for more than one employer during the year, the social security tax is deducted and matched by only one employer.

Accepted Answer

A) True 
 B)False

Exam 10: Payroll Computations, Records, and Payment

If an employee works for more than one employer during the year, the social security tax is deducted and matched by only one employer.

Correct Answer
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Correct Answer
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Exam 10: Payroll Computations, Records, and Payment

If an employee works for more than one employer during the year, the social security tax is deducted and matched by only one employer.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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