Compute the net pay for Mehdi Gamal and Deion Green. Assume that they are paid biweekly, subject
Question:
Compute the net pay for Mehdi Gamal and Deion Green. Assume that they are paid biweekly, subject to federal income tax (use the wage-bracket method in Appendix C) and FICA taxes, and have no other deductions from their pay. Mehdi’s deduction, if he chooses to participate in the cafeteria plan, is $75; Deion’s is $250. There is no deduction if they do not participate in the cafeteria plan. The cafeteria plan qualifies for Section 125. There are no state income taxes, and you do not need to complete the number of hours. All W-4s were received in 2022, and there is no information for Step 4. Deion did check the box in Step 2.
Name Mehdi Gamal-no cafeteria plan Mehdi Gamal- cafeteria plan Deion Green-no cafeteria plan Deion Green- cafeteria plan Filing Status Dependents Wage S S MJ MJ None 1,600.00 None 2 <17 One Other Hourly Rate or Period 2< 17 One Other Name 1,600.00 1,875.00 1,875.00 Mehdi Gamal-no cafeteria plan Mehdi Gamal-cafeteria plan Deion Green-no cafeteria plan Deion Green-cafeteria plan No. of No. of No. of Regular Overtime Holiday Commiss- Gross Cafeteria Federal/ Hours Hours Hours ions Earnings Plan State W/H Taxable Wages for Federal/ Gross Earnings State W/H Taxable Wages for Taxable Social Wages Federal Security Medicare for FICA W/H Tax W/H Net Pay Taxable Wages for FICA
Step by Step Answer:
To compute the net pay for Mehdi Gamal and Deion Green we need to follow these steps 1 Determine the Gross Earnings 2 Calculate the Taxable Wages for ...View the full answer
Payroll Accounting 2023
ISBN: 9781264415618
9th Edition
Authors: Jeanette M. Landin, Paulette Schirmer
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