Jesse Is a Part-Time Nonexempt Employee Who Earns $12

question 14

Multiple Choice

Jesse is a part-time nonexempt employee who earns $12.50 per hour.During the last biweekly pay period he worked 35 hours.He is married with zero withholding allowances,which means his Federal income tax deduction is $10.00,and has additional Federal tax withholding of $30 per pay period.What is his net pay? (Do not round interim calculations,only round final answer to two decimal points.)

• A) $354.28
• B) $374.03
• C) $364.03
• D) $378.03

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Definitions:

Cash Equivalents

Cash equivalents are highly liquid investment securities with maturities of three months or less, making them almost as liquid as cash itself.

Time Deposits

Banking products that hold a fixed amount of funds for a specified period of time, earning interest, such as CDs.

Recordkeeping

The systematic process of maintaining records for financial transactions and other business activities.

Custody of Assets

Responsibility for safeguarding and managing physical or digital assets, ensuring their security and proper use.