Homework Answers
| Gross pay | 1900.00 | |
| Less: Exemptions | 615.20 | =153.80*4 |
| Taxable earnings | 1284.80 | |
| Gross pay | 1900.00 | |
| Less: Deductions | ||
| Social Security tax | 117.80 | =1900*6.2% |
| Medicare tax | 27.55 | =1900*1.45% |
| Federal Income tax | 107.62 | =70.9+(1284.8-1040)*15% |
| Total Deductions | 252.97 | |
| Net pay | 1647.03 |
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Percentage Method Tables for Income Tax Withholding TABLE 1-WEEKLY Payroll Period $0 (a) SINGLE person (including...
Assume a tax rate of 6.2% on $118.500 for Social Security and 145% for Medicare. No one will reach the maximum fo...
Assume a tax rate of 6.2% on $118.500 for Social Security and 145% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. Use the percentage method to calculate FIT for this weekly period.) (Use Table 9.1 and Table 9.2). (Do not found intermediate calculations and round your final answers to the nearest cent.) FCA Mr aus Allowances claimed 4 Employee Pat Brown Natpay Gross pay 54.000 Med S21S M 5 Payroll Period Weekly Biweekly...
Through the classifieds of the Miami Herald Rhonda Brennan found her first job after graduating from...
Through the classifieds of the Miami Herald Rhonda Brennan found her first job after graduating from college. She was delighted when the offer came through at $15.60 per hour. She completed her W-4 stating that she is married with a child and claims an allowance of 3. Her company will pay her biweekly for 80 hours (assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare). Calculate her take-home pay for her first check. (Use...
Len Mast earned $2,950 in the last 2 weeks. He is married, is paid biweekly, and...
Len Mast earned $2,950 in the last 2 weeks. He is married, is paid biweekly, and claims 3 exemptions. What is Len's FIT? Use the percentage method. (Use Table 71 and Table 7.2). (Round your answer to the nearest cent.) FIT Payroll Period Weekly ................ Biweekly .... Semimonthly ... Monthly Quarterly ..... Semiannually ......... Annually ......... Daily or miscellaneous (each day of the payroll period).. One Withholding Allowance $ 76.90 153.80 166.70 333.30 1,000.00 2,000.00 4,000.00 15.40 Percentage Method Tables...
14 Len Mast earned $2,900 in the last 2 weeks. He is married, is paid biweekly,...
14
Len Mast earned $2,900 in the last 2 weeks. He is married, is paid biweekly, and claims 3 exemptions. What is Len's FIT? Use the percentage method. (Use Table 71 and Table 72). (Round your answer to the nearest cent.) FIT TABLE 1-WEEKLY Payroll Period (a) SINGLE person including head of household (1) MARRIED person the amount of wages ahe If the amount of wages Cher The amount of income tax subtracting withholding NO $165 Over- But not over...
EXHIBIT 2 Table for Percentage Method of Withholding WEEKLY Payroll Period Wage Bracket Withholding Table (a)...
EXHIBIT 2 Table for Percentage Method of Withholding WEEKLY Payroll Period Wage Bracket Withholding Table (a) SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) The amount of income tax IS: Not over $43 Over- But not over- to withhold is: of excess over_ $43 $222 $767 $1,796 $3,700 $7,992 $8,025 $43 $222 . . $0.00 plus 10% -$767 . . $17.90 plus 15% $222 $767-$1,796 . . $99.65 plus 25% McGrath wage bracket...
Federal Income Tax Withholding Bob Dunn's weekly gross earnings for the present week were $2,280. Dunn has two exemp...
Federal Income Tax Withholding Bob Dunn's weekly gross earnings
for the present week were $2,280. Dunn has two exemptions. Using
the wage bracket withholding table in Exhibit 2 with a $75 standard
withholding allowance for each exemption, what is Dunn's federal
income tax withholding? Round your answer to two decimal
places.
Table for Percentage Method of Withholding WEEKLY Payroll Period (a) SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) The amount of income...
Federal Income Tax Withholding Bob Dunn's weekly gross earnings for the present week were $2,440. Dunn...
Federal Income Tax Withholding
Bob Dunn's weekly gross earnings for the present week were
$2,440. Dunn has four exemptions. Using the wage bracket
withholding table in Exhibit 2 with a $75 standard withholding
allowance for each exemption, what is Dunn's federal income tax
withholding? Round your answer to two decimal places.
$
Table for Percentage Method of Withholding WEEKLY Payroll Period (a) SINGLE person (including head of household) - If the amount of wages (after subtracting withholding allowances) The amount...
Richard Gaziano is a manager for Health Care, Inc. Health Care deducts Social Security, Medicare, and...
Richard Gaziano is a manager for Health Care, Inc. Health Care deducts Social Security, Medicare, and FIT (by percentage method) from his earnings. Assume a rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. Before this payroll, Richard is $1,000 below the maximum level for Social Security earnings. Richard is married, is paid weekly, and claims 2 exemptions. What is Richard's net pay for the week if he earns $2,350? (Use Table 7.1 and Table 7.2). (Round...
Federal Income Tax Withholding Bob Dunn's weekly gross earnings for the present week were $2,580. Dunn...
Federal Income Tax Withholding Bob Dunn's weekly gross earnings for the present week were $2,580. Dunn has three exemptions. Using the wage bracket withholding table in Exhibit 2 with a $75 standard withholding allowance for each exemption, what is Dunn's federal income tax withholding? Round your answer to two decimal places. Table for Percentage Method of Withholding WEEKLY Payroll Period EXHIBIT 2 Wage Bracket Withholding Table ..So (a) SINGLE person (including head of household)- If the amount of wages (after...
Federal Income Tax Withholding Bob Dunn's weekly gross earnings for the present week were $2,550. Dunn...
Federal Income Tax Withholding
Bob Dunn's weekly gross earnings for the present week were
$2,550. Dunn has four exemptions. Using the wage bracket
withholding table in Exhibit 2 with a $75 standard withholding
allowance for each exemption, what is Dunn's federal income tax
withholding? Round your answer to two decimal places.
Table for Percentage Method of Withholding WEEKLY Payroll Period EXHIBIT 2 Wage Bracket Withholding Table ....$0 (a) SINGLE person (including head of household) - If the amount of wages...
Assume a tax rate of 6.2% on $118.500 for Social Security and 145% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. Use the percentage method to calculate FIT for this weekly period.) (Use Table 9.1 and Table 9.2). (Do not found intermediate calculations and round your final answers to the nearest cent.) FCA Mr aus Allowances claimed 4 Employee Pat Brown Natpay Gross pay 54.000 Med S21S M 5 Payroll Period Weekly Biweekly...
Through the classifieds of the Miami Herald Rhonda Brennan found her first job after graduating from college. She was delighted when the offer came through at $15.60 per hour. She completed her W-4 stating that she is married with a child and claims an allowance of 3. Her company will pay her biweekly for 80 hours (assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare). Calculate her take-home pay for her first check. (Use...
Len Mast earned $2,950 in the last 2 weeks. He is married, is paid biweekly, and claims 3 exemptions. What is Len's FIT? Use the percentage method. (Use Table 71 and Table 7.2). (Round your answer to the nearest cent.) FIT Payroll Period Weekly ................ Biweekly .... Semimonthly ... Monthly Quarterly ..... Semiannually ......... Annually ......... Daily or miscellaneous (each day of the payroll period).. One Withholding Allowance $ 76.90 153.80 166.70 333.30 1,000.00 2,000.00 4,000.00 15.40 Percentage Method Tables...
14
Len Mast earned $2,900 in the last 2 weeks. He is married, is paid biweekly, and claims 3 exemptions. What is Len's FIT? Use the percentage method. (Use Table 71 and Table 72). (Round your answer to the nearest cent.) FIT TABLE 1-WEEKLY Payroll Period (a) SINGLE person including head of household (1) MARRIED person the amount of wages ahe If the amount of wages Cher The amount of income tax subtracting withholding NO $165 Over- But not over...
EXHIBIT 2 Table for Percentage Method of Withholding WEEKLY Payroll Period Wage Bracket Withholding Table (a) SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) The amount of income tax IS: Not over $43 Over- But not over- to withhold is: of excess over_ $43 $222 $767 $1,796 $3,700 $7,992 $8,025 $43 $222 . . $0.00 plus 10% -$767 . . $17.90 plus 15% $222 $767-$1,796 . . $99.65 plus 25% McGrath wage bracket...
Federal Income Tax Withholding Bob Dunn's weekly gross earnings
for the present week were $2,280. Dunn has two exemptions. Using
the wage bracket withholding table in Exhibit 2 with a $75 standard
withholding allowance for each exemption, what is Dunn's federal
income tax withholding? Round your answer to two decimal
places.
Table for Percentage Method of Withholding WEEKLY Payroll Period (a) SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) The amount of income...
Federal Income Tax Withholding
Bob Dunn's weekly gross earnings for the present week were
$2,440. Dunn has four exemptions. Using the wage bracket
withholding table in Exhibit 2 with a $75 standard withholding
allowance for each exemption, what is Dunn's federal income tax
withholding? Round your answer to two decimal places.
$
Table for Percentage Method of Withholding WEEKLY Payroll Period (a) SINGLE person (including head of household) - If the amount of wages (after subtracting withholding allowances) The amount...
Richard Gaziano is a manager for Health Care, Inc. Health Care deducts Social Security, Medicare, and FIT (by percentage method) from his earnings. Assume a rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. Before this payroll, Richard is $1,000 below the maximum level for Social Security earnings. Richard is married, is paid weekly, and claims 2 exemptions. What is Richard's net pay for the week if he earns $2,350? (Use Table 7.1 and Table 7.2). (Round...
Federal Income Tax Withholding Bob Dunn's weekly gross earnings for the present week were $2,580. Dunn has three exemptions. Using the wage bracket withholding table in Exhibit 2 with a $75 standard withholding allowance for each exemption, what is Dunn's federal income tax withholding? Round your answer to two decimal places. Table for Percentage Method of Withholding WEEKLY Payroll Period EXHIBIT 2 Wage Bracket Withholding Table ..So (a) SINGLE person (including head of household)- If the amount of wages (after...
Federal Income Tax Withholding
Bob Dunn's weekly gross earnings for the present week were
$2,550. Dunn has four exemptions. Using the wage bracket
withholding table in Exhibit 2 with a $75 standard withholding
allowance for each exemption, what is Dunn's federal income tax
withholding? Round your answer to two decimal places.
Table for Percentage Method of Withholding WEEKLY Payroll Period EXHIBIT 2 Wage Bracket Withholding Table ....$0 (a) SINGLE person (including head of household) - If the amount of wages...
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