Ask Question
3 January, 00:41

Hernandez Builders has a gross payroll for January amounting to $500,000. The following amounts have been withheld: Income taxes Canada Pension Plan contributions Employment Insurance contributions Pension plan contributions Charitable contributions Union dues $63,000 31,000 5,000 7,250 1% of gross pay 2% of gross pay

Required: 1.

What is the amount of net pay recorded by Hernandez?

+1
Answers (1)
  1. 3 January, 04:27
    0
    The amount of net pay recorded by Hernandez is $380,650

    Explanation:

    Gross Pay $500,000

    Income Tax $63,000

    Social security $31,000

    Medicare $7,250

    Charitable contribution $5,000

    Union Dues $10,000

    Unemployement Tax $3,100

    Net Pay $380,650

    Therefore, The amount of net pay recorded by Hernandez is $380,650
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Hernandez Builders has a gross payroll for January amounting to $500,000. The following amounts have been withheld: Income taxes Canada ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers