Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Example 4-3 To use the wage-bracket method, follow the steps illustrated below. Step 1 Select the withholding table that applies to the Adrienne Muff is

image text in transcribed
image text in transcribed
Example 4-3 To use the wage-bracket method, follow the steps illustrated below. Step 1 Select the withholding table that applies to the Adrienne Muff is married and claims 3 allowances. She is paid weekly employee's marital status and pay period. at a rate of $815 Step 2 Locate the wage bracket (the first two columns of the table) in which the employee's gross wages fall, Locate the appropriate wage bracket (see Figure 4.7): At least 5810 but less than $821 Step 3 Follow the line for the wage bracket across to the right to the column showing the appropriate number of allowances. Withhold this amount of tax Move across the line to the column showing 3 allowances. The tax to withhold is $35. Eaton Enterprises uses the wage-bracket method to determine federal income tax withholding on its employees. Find the amount to withhold from the wages paid each employee. Enter all amounts as positive numbers. If an amount is zero, enter "0". Round interim and final answers to two decimal places. Click here to access the Table of Allowance Values. Click here to access the Percentage Method Tables employee. Enter all amounts as positive numbers. If an amount is zero, enter "0". Round interim and final answers to two decimal places. Click here to access the Table of Allowance Values. Click here to access the Percentage Method Tables. Click here to access the Wage-Bracket Method Tables. Payroll Period W = Weekly S = Semimonthly Marital Withholding M = Monthly Employee Status Allowances D Daily No. of Amount to Be Withheld Wage Hal Bower M 1 w $1,350 118 Ruth Cramden S 1 w 590 Gil Jones S 3 w 675 39 Teresa Kern M 4 M 3,100 Ruby Long M M 2,730 Katie Luis M 8 S 955 TOPCLUB Susan Martin S 1 D 108 Jim Singer S 4 S 2,610 Martin Torres M 4 M 3,215 Example 4-3 To use the wage-bracket method, follow the steps illustrated below. Step 1 Select the withholding table that applies to the Adrienne Muff is married and claims 3 allowances. She is paid weekly employee's marital status and pay period. at a rate of $815 Step 2 Locate the wage bracket (the first two columns of the table) in which the employee's gross wages fall, Locate the appropriate wage bracket (see Figure 4.7): At least 5810 but less than $821 Step 3 Follow the line for the wage bracket across to the right to the column showing the appropriate number of allowances. Withhold this amount of tax Move across the line to the column showing 3 allowances. The tax to withhold is $35. Eaton Enterprises uses the wage-bracket method to determine federal income tax withholding on its employees. Find the amount to withhold from the wages paid each employee. Enter all amounts as positive numbers. If an amount is zero, enter "0". Round interim and final answers to two decimal places. Click here to access the Table of Allowance Values. Click here to access the Percentage Method Tables employee. Enter all amounts as positive numbers. If an amount is zero, enter "0". Round interim and final answers to two decimal places. Click here to access the Table of Allowance Values. Click here to access the Percentage Method Tables. Click here to access the Wage-Bracket Method Tables. Payroll Period W = Weekly S = Semimonthly Marital Withholding M = Monthly Employee Status Allowances D Daily No. of Amount to Be Withheld Wage Hal Bower M 1 w $1,350 118 Ruth Cramden S 1 w 590 Gil Jones S 3 w 675 39 Teresa Kern M 4 M 3,100 Ruby Long M M 2,730 Katie Luis M 8 S 955 TOPCLUB Susan Martin S 1 D 108 Jim Singer S 4 S 2,610 Martin Torres M 4 M 3,215

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

Step: 3

blur-text-image

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

Managerial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

10th Edition

B010IKDQZM

More Books

Students also viewed these Accounting questions

Question

Is SHRD compatible with individual career aspirations

Answered: 1 week ago