Questions and Answers
How much did Hope's employer deposit into her checking account on the most recent payday of 5/21/18?
$284.79
About how frequently does Hope receive a paycheck?
Every two weeks
Which of the following statements are true? (Select all that apply)
How many pay periods has Hope had year-to-date assuming regular pay intervals?
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Which of the following benefits does Hope pay for through payroll deductions?
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What was the total amount deducted from Hope's latest paycheck?
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Hope's contribution to her retirement plan is taxed for federal income tax purposes.
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What was the largest deduction for this pay period?
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If Hope works 60 hours instead of 40 to cover shifts, which of her deductions will definitely change?
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Which of the following statements are true? (Select all that apply)
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What information is available on a pay stub? (Select all that apply)
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Study Notes
Pay Stub Overview
- Hope's employer deposited $284.79 into her checking account on 5/21/18.
- Paychecks are issued to Hope every two weeks.
Paycheck Details
- Hope's net pay for the pay period was $284.79.
- She paid $76.58 for her health insurance plan during this period.
- Total deductions from her latest paycheck amounted to $313.21.
Employment and Deductions
- Year-to-date, Hope has received 9 pay periods.
- Payroll deductions include contributions to her retirement plan, which are pre-tax and not subject to federal income tax.
Taxation and Changes
- The largest deduction from Hope's current paycheck was Federal Tax.
- If she works 60 hours instead of 40 due to a coworker quitting, her Federal Tax deduction will definitely change.
Contributions and Year-to-Date Totals
- So far this year, Hope has contributed $540.00 to her retirement plan.
- She has paid $810.00 in federal taxes thus far in the year.
Pay Stub Information
- Key details on a pay stub include net income, gross income, year-to-date deductions, current deductions, taxes, and pay period.
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Description
This quiz covers the essential components of a pay stub, including net pay, deductions, and contributions. It also highlights the impact of working additional hours on federal tax deductions and provides an overview of year-to-date totals. Test your knowledge on payroll deductions and employment taxes.