Question
eton Tours in Evanston, Wyoming, has six employees who are paid on a biweekly basis. Assume that all wages are subject to Social Security and
eton Tours in Evanston, Wyoming, has six employees who are paid on a biweekly basis. Assume that all wages are subject to Social Security and Medicare taxes. Required: Calculate the net pay from the information provided for the July 23 pay date. Use the wage-bracket tables in Appendix C to determine the federal income tax withholding. You do not need to complete the number of hours. No one has checked the box in Step 2, there is no additional information in Step 4. (Round your intermediate calculations and final answers to 2 decimal places.)
a.
A. Bowman
Married/Joint, Two dependents <17
Annual pay $37,360
401(k) deduction: 2 percent of gross pay per pay period
b.
J. Raz
Single, No dependents
Annual pay: $47,390
401(k) deduction: $220 per pay period
c.
G. Koskoris
Single, One dependent <17, One Other dependent
Annual pay: $56,160
Section 125 deduction: $25 per pay period
401(k) deduction: $150 per pay period
d.
S. Hays-Smith
Married/Joint, Three dependents <17
Annual pay: $41,860
United Way deduction: $25 per pay period
Garnishment: $75 per period
e.
H. Inhofe
Married/Joint, No dependents
Annual pay: $56,040
Section 125 deduction: $100 per period
401(k) deduction: 4 percent of gross pay
f.
D. Wong
Single, One Other dependent
Annual pay: $39,640
401(k) deduction: $120 per period
Name | Filining Status | Period Wage | Gross Earnings | 401 (k) | Section 125 | Taxable Wages for Federal or State W/H | Taxable Wages for FICA | Federal W/H | Social Sercuity Tax | Medicare W/H Tax | United Way | Garnishment | Net Pay |
Bowman | |||||||||||||
Raz | |||||||||||||
Hays-Smith | |||||||||||||
Inhofe | |||||||||||||
Wong |
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