Question
Frances Newberry is the payroll accountant for Pack-it Services of Jackson, Arizona. The employees of Pack-It Services are paid semimonthly. An employee, Glen Riley, comes
Frances Newberry is the payroll accountant for Pack-it Services of Jackson, Arizona. The employees of Pack-It Services are paid semimonthly. An employee, Glen Riley, comes to her on November 6 and requests a pay advance of $1,600, which he will pay back in equal parts on the November 15 and December 15 paychecks. Glen is married with eight withholdings allowances and is paid $58,160 per year. He contributes 3 percent of his pay to a 401(k) and has a $25 per paycheck deducted for a Section 125 plan.
Compute his net pay on his November 15 paycheck. The state income tax is 2.88 percent. Use the Wage Brack Method Tables for Income Tax Withholding in Appendix C. (Round your intermiediate calculations and final awnser to 2 decimal places)
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