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A Spreadsheet Contains Employee Salary Information Used to Calculate Payroll

Question 44

Essay

A spreadsheet contains employee salary information used to calculate payroll deductions. Column D contains weekly gross earnings, Column E contains Social Security, Column F contains Medicare, Column G contains federal income tax, and Column H contains state income tax. Assume Cells E2, F2, and H2 contain the percent rates for each respective deduction. What formulas would be contained in Cells E3, F3, and H3 to calculate payroll deductions for an employee? Use absolute cell references.

Correct Answer:

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Cell E3: =D3*$E$2
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