Lightning Electronics is a midsize manufacturer of lithium batteries. The company’s payroll records for the November 1-14 pay period show that employees earned wages totaling $50,000 but that employee income taxes totaling $7,000 and FICA taxes totaling $2,625 were withheld from this amount. The net pay was directly deposited into the employees’ bank accounts. What was the amount of net pay? Assuming Lighting Electronics must also pay $250 of unemployment taxes for this pay period, what amount would be reported as the total payroll costs?
https://esays-pro.com/wp-content/uploads/2021/09/logo-300x75.png 0 0 admin https://esays-pro.com/wp-content/uploads/2021/09/logo-300x75.png admin2021-12-31 00:28:552021-12-31 00:28:55Lightning electronics is a midsize manufacturer of lithium batteries.
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