flashcard
1 / 20
Front
earned income
❮ prev
next ❯
1 / 20
Back
These are monetary payments to an employee for work performed.
❮ prev
next ❯
terms list
earned income
These are monetary payments to an employee for work performed.
unearned income
This is money received from investments, stocks and bonds, properties, and inheritance or prize money.
gross pay
This is the amount of money a worker receives before any deductiions are taken out.
net pay
This is the amount of money the worker actually takes home after deductions.
salary
This is the fixed amount of money a person earns on a regular basis. It can be paid weekly, biweekly, semimonthly, or monthly. It is not an hourly wage.
annual salary or wage
This is total amount of salary or wages earned during a year.
real wages
This is the amount of money a person receives after payroll deductions. This is also an indication of an indiviual's actual purchasing power.
nominal wages
The dollar amount in a worker's paycheck is called this, (or money wages).
inflation
This is a rise in the prices of goods and services. If the economy is in this state (or condition), prices are going up, but the value of wages is remaining the same or decreasing.
withholdings
This is money that employers are required to deduct from the employees' paychecks and their own. This money is then sent to different organizations.
pay stub
This paper is either attached to a persons paycheck or accompanies it. It will show gross pay, withholdings, and net pay.
piece-work employees
These employees are paid by the project or amount of work they complete.
contract labor
Some people perform temporary work for a company. They enter into an agreement to work for a specified time or length of a particular project.
commission employees
These employees receive a percentage of their sales money as their pay. They may also receive a salary or hourly wage.
$2,486.57
Calculate the monthly gross pay for Miss Cates if she earns $2,250 a month with a 4.9% commission and $4,828 in sales.
$480
Randy works for Balding Tires. He receives a 4% commission on his sales. Last month, his sales totaled $12,000. Calculate the amount of his commission.
$1,407.25
Brenda Bradford of Bradford Shoes makes $1,300 per month plus a 2.5% commission on her sales. What is her monthly gross pay if she sells $4,290 worth of shoes?
$288.46
Timothy is a teaching assistant who earns $15,000 per year. What would his gross pay be per paycheck if he were paid weekly?
$5,475.00
You earn an annual salary of $65,700 as an engineer. What is your monthly gross pay?
$$1,153.85
Calculate the gross paycheck for C. D. Edgeling, who makes an annual salary of $30,000 and is paid biweekly.
more from user
#1 Introduction to Earth Science
2 items
en en
#9 Travel
20 items
en en
9. Television
18 items
en en
10. Jazz Music I
3 items
en en
6. Overview of the Dance
16 items
en en
#9 Insurance
20 items
en en
#12 Retirement Planning
20 items
en en
1. Intro. to Personal Finance
20 items
en en
#10 Taxes
20 items
en en
2. Personal Economics
16 items
en en
#6 Time Management
14 items
en en
#11 Federal, State, and Local Taxes
25 items
en en
similars
Consumer Math Terminology
25 items
en en
earnings vocab
10 items
en en
21st Century Pay
21 items
en en
likely
Chemistry-Section 8.1
30 items
en en
Finals Exam
58 items
en en
Midlands Rules of Evidence
107 items
en en
Intro to methods
18 items
en en