Betty Meyer makes $40,000 per year as an exempt employee. She worked 25 hours of overtime in the month of March. Payday for wages earned in the month of March is April 7. Ignoring Federal and State

income tax withholdings, how much would she receive for September net of Social Security and Medicare taxes?

As an exempt emploXXXXX, XXXXX will not receive additional compensation for overtime worked. Exempt employees are "exempt" from time reporting and as such receive a flat salary. Professionals are usually exempt employees. [
Mary receives $3,145 net pay which considers her FICA liability but not any federal tax withholding. On March 31, the employer will debit salaries expense and credit

salaries payable. On april 7, the employer will debit salaries payable and credit cash to record the payment.
]

Expert answered|Meynard|Points 125|

Question

Asked 6/19/2013 6:53:06 PM

0 Answers/Comments

Rating

There are no new answers.

On May 23, Samantha Best borrowed $40,000 from the Tri City Credit Union at 13% for 160 days. The credit union uses the exact interest method. What is the maturity date of Samantha Best s loan?
8. Using the scenario from the previous question, calculate the maturity value of the loan
**Weegy:** Samantha Bests interest for her 40,000 loan is $5200.
40000x13%= $5200 **User:** What is the maturity date of Samantha Best’s loan? (Points : 2) **Weegy:** Samantha will earn an equal amount of interest every year for the next five years.
(More)

Question

Expert Answered

Asked 6/19/2013 5:42:17 PM

0 Answers/Comments

lee tire wishes to offer free replacements on each tire that does not last at least 84 months. If the mean production average is 60 months and the standard deviation is 8 months solve for the number of tires that will have to be "free replacements"?
**Weegy:** 84 month is is 24 months above the 60 month average. If the standard deviation is 8, then 84 months is 3 SDs (3 x 8 = 24) above the mean. [ Now we simply look up to determine what percentage of a normal population falls within 3 SDs + or minus of the mean and we find it is 99.7%. In other words, they will have to replace almost every tire they make for free. ] (More)

Question

Expert Answered

Asked 6/19/2013 6:45:40 PM

0 Answers/Comments

Betty Meyer makes $40,000 per year as an exempt employee. She worked 25 hours of overtime in the month of March. Payday for wages earned in the month of March is April 7. Ignoring Federal and State income tax withholdings, how much would she receive for September net of Social Security and Medicare taxes? What journal entry would be made on March 31 for wages owed to Betty? What journal entry would be made when she is paid on April 7?
**Weegy:** As an exempt employee, Betty will not receive additional compensation for overtime worked. Exempt employees are "exempt" from time reporting and as such receive a flat salary. [ Professionals are usually exempt employees.
Betty receives $3,145 net pay which considers her FICA liability but not any federal tax withholding. On March 31, the employer will debit salaries expense and credit salaries payable. On april 7, the employer will debit salaries payable and credit cash to record the payment .
] (More)

Question

Expert Answered

Asked 6/19/2013 6:48:32 PM

0 Answers/Comments

Compute the principal for the following loan. (Round to the nearest cent, 2 places after decimal.)
Principal
Rate (%)=10 %
Time=10 monthsInterest=$5,900
**Weegy:** 590x10 = 5900
loan term = 10 months
interest rate is 10% = (5900/10 = 590
monthly interest is 590 x 10 months = 5900 is principal **User:** Compute the rate for the following loan. Round your answer to the nearest tenth of a percent.
Principal $50,000
Rate (%)
Time 9 months
Interest $4,500 **Weegy:** Rate is 1.00% / month.
Principal = $50,000
Time = 9 months
Interest = $4,500
% = 1.00%
$4,500 / 9 months is $500 interest per month.
1% interest of $50,000 / month is $500.
$500 x 9 months is equal to $4,500 (More)

Question

Expert Answered

Asked 6/22/2013 12:47:41 PM

0 Answers/Comments

What proceeds did Varsity Press receive after discounting the note?
**Weegy:** Varsity Press, a publisher of college textbooks, received a $70,000 promissory note at 12% ordinary interest for 60 days from one of its customers, Reader’s Choice Bookstores. [ After 20 days, Varsity Press discounted the note at the Grove Isle Bank at a discount rate of 14.5%. ] (More)

Question

Expert Answered

Asked 6/22/2013 1:09:21 PM

0 Answers/Comments

0 questions answered

There are no comments.