Sean's Gross Pay for This Month Is $8750

question 40

Multiple Choice

Sean's gross pay for this month is $8750.His gross year-to-date pay,prior to this month,totaled $112,000.Sean's rate for federal income tax is 25%.His voluntary deductions total $950.What is Sean's net pay? (Assume an OASDI rate of 6.2%,applicable on the first $118,500 earnings,and a Medicare rate of 1.45%,applicable on all earnings.Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar.)

• A) $6032.62
• B) $5612.50
• C) $6562.50
• D) $5082.62

Explain the concepts of net debt and its relevance to assessing a government's financial position.

Understand the concept and types of funds used by not-for-profit organizations.

Analyze and prepare financial statements for not-for-profit organizations using information from various funds.

Identify and apply the procedures related to the encumbrance system in accounting for not-for-profit organizations.

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Definitions:

Thyroxin

Is a hormone produced by the thyroid gland that regulates metabolism, energy generation, and growth and development.

Monozygotic Twins

Twins that are genetically identical, having developed from a single fertilized egg that split into two.

Genetic Factors

Aspects of an organism's genetic makeup that influence its physical and behavioral traits.

Dizygotic Twins

Also known as fraternal twins, are siblings born at the same time but developed from separate eggs fertilized by separate sperm.