Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Dis Ch 9 A Eric, your friend, received his Form W-2 from his employer (below) and has asked for your help. Eric's 2019 salary was

image text in transcribed
Dis Ch 9 A Eric, your friend, received his Form W-2 from his employer (below) and has asked for your help. Eric's 2019 salary was $145,200 and he does not understand why the amounts in Boxes 1, 3 and 5 are not $145,200? His final paycheck for the year included the following information: - Eric contributed 5 percent of his salary to the company 401(k) plan on a pre-tax basis. - Eric is married with two children. He had $5,000 deducted from his wages for a Dependent Care Flexible Spending Account. Eric is enrolled in the company-sponsored life insurance program. He has a policy that provides a benefit of $145,200. - Eric contributed $2,650 to the Health Care Flexible Spending Account (he keeps forgetting that the maximum deferral has increased over the years). Using the information and Eric's Form W-2, prepare an email to Eric reconciling his salary of $145,200 to the amounts in Boxes 1.3, and 5. 791-51-4335 Empoy 12-3456789 compare and Ivy Technologies, Inc. 436 E. 35 Avenue Gary, IN 46409 Votre OMEN 148.000 FASTEN se-file we compro CORO 130,417.00 15,184.00 SOMMY 132,900.00 8,239.80 Mode Medicare 137,677.00 1,996.32 boy Ad . Le 13 Nogue 5,000.00 127.00 Eric Hayes 555 E. 81st Street Merrillville, IN 46410 X D 7,260.00 14 Othe DD 12.345.00 Pode IN 00122231001 16 130,417.00 4,956.00 130,417.00 987.00 LAKE Statement -To Be Red with Emp's FEDERAL Team W-2 Ware and Tax 2019

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Management Accounting

Authors: Tom Groot, Frank Selto

1st Edition

0273730185, 978-0273730187

More Books

Students also viewed these Accounting questions

Question

=+c) What were the treatments? Chapter Exercises

Answered: 1 week ago

Question

how to change the default text to invent software

Answered: 1 week ago

Question

Who responds to your customers complaint letters?

Answered: 1 week ago