Baker Green's weekly gross earnings for the week ending December 7 were $1,400, and her...
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Accounting
Baker Green's weekly gross earnings for the week ending December 7 were $1,400, and her federal income tax withholding was $168. Assuming the social security rate is 6% and Medicare is 1.5%, and all earnings are subject to FICA taxes, what is Green's net pay? Round your answer to the nearest whole dollar. $_________
On August 1, Batson Company issued a 60-day note with a face amount of $72,600 to Jergens Company for merchandise inventory. (Assume a 360-day year is used for interest calculations.)
a. Determine the proceeds of the note assuming the note carries an interest rate of 10%.____________
b. Determine the proceeds of the note assuming the note is discounted at 10%._____________
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