Question

A paycheck is issued for $329.40. The paystub reflects an amount earned of $400.00, Medicare tax of $5.80, Social Security tax of $24.80, and a federal tax of $40.00. What is the net income for the paycheck? Group of answer choices

Answer 1

Answer:

gross income is $400

The net is $329.40

Deductions are $70.6

Step-by-step explanation:

Answer 2

Based on the gross amount earned and the various deductions, the net income is $329.40

What is Net Income?

Net income is the amount that will be earned after all the taxes have been subtracted from the paystub amount.

The net income is therefore:

= 400 - 5.80 - 24.80 - 40

= $329.40

In conclusion, the net income is $329.40.

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