Enlightened Eats in Anchorage, Alaska, has six employees who are paid semimonthly. Calculate the net pay from
Question:
Enlightened Eats in Anchorage, Alaska, has six employees who are paid semimonthly. Calculate the net pay from the information provided below for the November 15 pay date. Assume that all wages are subject to Social Security and Medicare taxes. All 401(k) and Section 125 amounts are pretax deductions. Use the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to compute federal income taxes. You do not need to complete the number of hours.
a. W. Packer Married/Joint, two dependents <17, box 2 checked Annual pay: $35,500 401(k) deduction: $125 per pay period
b. K. Ela Married/Separate, two dependents <17, box 2 checked Annual pay: $53,400 401(k) deduction: $250 per pay period
c. G. Laureano Single, no dependents, box 2 not checked Annual pay: $50,400 Section 125 deduction: $75 per pay period 401(k) deduction: $50 per pay period
d. T. Spraggins Married/Joint, one dependent <17, box 2 not checked Annual pay: $45,000 United Way deduction: $50 per pay period Garnishment: $50 per pay period
e. M. Christman Single, two dependents <17, one other dependent, box 2 checked Annual pay: $58,800 Section 125 deduction: $50 per pay period 401(k) deduction: 6 percent of gross pay per pay period
f. J. Cherry Married/Joint, one other dependent, box 2 checked Annual pay: $48,400 401(k) deduction: $75 per pay period
Step by Step Answer:
Payroll Accounting 2023
ISBN: 9781264415618
9th Edition
Authors: Jeanette M. Landin, Paulette Schirmer