Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello I just wanted some help with finding out how to deduct the 401(k) plan from Carol wolfe and mary ray in this problem I'm

Hello I just wanted some help with finding out how to deduct the 401(k) plan from Carol wolfe and mary ray in this problem I'm a little confused.
Carol Wolfe and Mary Ray both contribute to the company's 401(k) plan each pay period.
I finish the rest of the problem I just need the net pay in the 401(k).
image text in transcribed
image text in transcribed
my apologies this is actually a payroll to accounting!
1. Payroll Register for October 15, 2019: 2 marital status No of allow Previous YTD Gross Current Gross New YTD Gross 3 Employee Name 4 OASDI Tams Withheld 200 FIT Taxes witheid HI Taxes Withheld 1458 Taxable Earings FUTA SUTA 401) contrib Not Pay DASDI 3 M 127100 29725 2. 4 I Woute 7 M Ray Totals 9 10 20,500.00 20,500.00 1.3.70000 12,200.00 34 200 00 341,200.00 20.500 00 13,700.00 34. 200.00 13,500.00 370000 20,200.00 11,500.00 4.700.00 10 200.00 0,069.68 2577 62 3547210 1271.00 SAR Payroll Data: Single, 2 allowances $20,500 per semi-monthly period SS #: 155-62-2010 Deduction for 401(k) plan: $1,500 per pay period 27 Employee Data: 28 29 Carol Wolfe 30 54 Gradison Place 31 Austin, TX 78711 32 33 34 Mary Ray 35 338 North Side Avenue 36 Austin, TX 78711 37 38 39 Ryan Kruger 40 4900 Terrace Ridge 41 Austin, TX 78711 Married, 4 allowances $13,700 per semi-monthly period SS # 000-25-2011 Deduction for 401(k) plan: $1,000 per pay period Single, O allowance $2,157 per semi-monthly period SS #: 888-00-2012 42 1. Payroll Register for October 15, 2019: 2 marital status No of allow Previous YTD Gross Current Gross New YTD Gross 3 Employee Name 4 OASDI Tams Withheld 200 FIT Taxes witheid HI Taxes Withheld 1458 Taxable Earings FUTA SUTA 401) contrib Not Pay DASDI 3 M 127100 29725 2. 4 I Woute 7 M Ray Totals 9 10 20,500.00 20,500.00 1.3.70000 12,200.00 34 200 00 341,200.00 20.500 00 13,700.00 34. 200.00 13,500.00 370000 20,200.00 11,500.00 4.700.00 10 200.00 0,069.68 2577 62 3547210 1271.00 SAR Payroll Data: Single, 2 allowances $20,500 per semi-monthly period SS #: 155-62-2010 Deduction for 401(k) plan: $1,500 per pay period 27 Employee Data: 28 29 Carol Wolfe 30 54 Gradison Place 31 Austin, TX 78711 32 33 34 Mary Ray 35 338 North Side Avenue 36 Austin, TX 78711 37 38 39 Ryan Kruger 40 4900 Terrace Ridge 41 Austin, TX 78711 Married, 4 allowances $13,700 per semi-monthly period SS # 000-25-2011 Deduction for 401(k) plan: $1,000 per pay period Single, O allowance $2,157 per semi-monthly period SS #: 888-00-2012 42

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

Focus On Personal Finance

Authors: Jack Kapoor, Les Dlabay, Robert Hughes

3rd Edition

0073382426, 9780073382425

More Books

Students also viewed these Finance questions

Question

How important is the valuation assertion for cash equivalents? Why?

Answered: 1 week ago

Question

What is puffery and how does it affect a contract?

Answered: 1 week ago

Question

How do you handle challenges in your role as a preschool director

Answered: 1 week ago