Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Enightened Eats in Anchorage, Alaska, has six employees who are paid semimonthly. Calculate the net pay from the information provided below for the November 15

image text in transcribed
image text in transcribed
image text in transcribed
Enightened 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 pre-tax deductions. Use the percentage method for manual payroll systems with Forms W.4 from 2020 or later in Appendi C to compute federal income taxes. You do not need to complete the number of hours. Note: Round your intermediate calculations and final answers to 2 decimal places. Required: a. W. Packer Married or Joint, two dependents $47,500 401(k) deduction: $125 per pay period b. K. Ela Married or Separate, two dependents 417, Box 2 checked Annual pay: $54,600 401(k) deduction: $250 per pay period c. G, Laureano Single, no dependents, Box 2 not checked Annual pay: $51,600 Section 125 deduction: $75 per pay period 401( (k) deduction: $50 per pay period d. T. Spraggins Married or Joint, one dependent $42.600 United Way deduction: $50 per pay period Gornishment: $50 per poy period e. M. Christman Single, two dependents 417 , one other dependent, Box 2 checked Annual pay. $70,800 Section 125 deduction: $50 per pay period 401(k) deduction: 6 percent of gross pay per pay period f. J. Cherry Married or Joint, one other dependent, Box 2 checked Annual pay: $49,600 401(k) deduction: $75 per pay period

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

Monitoring And Auditing Practices For Effective Compliance

Authors: John E. Steiner

2nd Edition

0977843017, 978-0977843015

More Books

Students also viewed these Accounting questions