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The payroll for the week ended January 8 is $15,000 with 15 percent withheld for employee income taxes and 8 percent for FICA taxes. The total amount of taxes to be remitted by the employer for this payroll would be:
Net Income
The net earnings a company obtains once all costs and taxes are subtracted from its income.
Net Cash Flow
The measure of a company's financial health, showing the cash generated or used in its business activities during a specific timeframe, restated to avoid repetition.
Net Income
Net income is the total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.
Depreciation
The process of allocating the cost of a tangible asset over its useful life.
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