Following are some transactions and events of Business Solut

Following are some transactions and events of Business Solutions. Feb. 26 The company paid cash to Lyn Addie for eight days\' work at $140 per day. Mar. 25 The company sold merchandise with a $2,132 cost for $2,800 on credit to Wildcat Services, invoice dated March 25. Required: 1. Assume that Lyn Addie is an unmarried employee. Her $1,120 of wages are subject to no deductions other than FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $112. Compute her net pay for the eight days\' work paid on February 26. (Round your answer to 2 decimal places. Do not round intermediate calculations.) Net pay

Solution

1.

Computation of Net Pay to Lyn Addie:

2. In the books of Business Solutions:

Net Pay

$ 922.32