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I need help finding the net pay in the first page and any subsequent material GA 9: Consider the below information for Mystery Corporation. Round

I need help finding the net pay in the first page and any subsequent material

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GA 9: Consider the below information for Mystery Corporation. Round your intermediate calculations to two NAME: TA: decimals and your nal answers to the nearest $1. Mystery Company employs the following 4 employees who are paid semi-monthly: # Withholding Cumulative Current Status Allowances Earnings' Pay Shaggy Married 6 $122,000.00 $6,100.00 Scooby Single 5 116,000.00 5,450.00 Velma Married 6 117,000.00 5,850.00 Daphne Single 0 118,500.00 5325.00 The company uses the % method when calculating federal income tax withholding. The Social Security tax rate is 6.2% and the Medicare rate is 1.45%, assume the social security wage base is $118,500. F UTA and SUTA are assessed on the rst $7,000 of employee's earnings at a rate of .6% and 2% respectively. *as of the end of the last pay period. Table 5. Percentage Method2017 Amount for One Withholding Allowance Payroll Period OMWllhholdlng Allowanc- Weekly .......................... 5 77.90 Biweekly _________________________ 155.50 Somimonlhly ,,,,,, , 153m Monthly. ..... . .. 37.50 nuamny ......................... 1.01250 Sumiannually . . . . . . . . . . . . 2,025.00 Annually ......................... 4.050.011 Duly or milealleneoul (each day at the payroll period). 15.60 TABLE 3SEMIMONTHLY Payroll Period (8) SINGLE person (including head 01 household) (b) MARRIED person If the amount of wages _ If the amount 01 wages (aer subtracting The amount of Income tax (after subtracting The amount of income tax withholding allowances) is: 10 withhold is: withholding allowances) is: to withhold is: Not over $96 .......... $0 Not over $360 ......... $0 Over But not owner_ of excess over Overh But not over5 01 excess over $96 $484 . . $0.00 plus 10% -$96 $360 $1.138 . . $0.00 plus 10% $360 $484 -$1,677 . . $38.80 plus 15% $484 $1.138 -$3.523 . . $77.80 plus 15% $1,138 $1.677 $3.925 . . $217.75 plus 25% $1.677 $3.523 $6.740 . . $435.55 plus 25% $3.523 $3.925 $8.081 . . $779.75 plus 28% 43.925 $6.740 $10.083 . . $1239.30 plus 28% $6.740 $5.081 $17,458 . . $1,943.43 plus 33% $8.081 $10083 $17.723 . . $2175.84 plus 33% $10.083 $17,458 417.529 . . $5,037.84 plus 35% $17.458 517.723 -$19.973 . . $4597.04 plus 35% -$17,723 $17529 ............ $5,062.69 plus 39.6% $17.529 $19,973 ............ $5,484.54 plus 396% 419.973 SHOW ALL WORK A. Calculate each employee's current net pay (lling in the below table), clearly label all payroll deductions (you have more \"deduction\" spaces below than you will need). Clearly tie the below table to your calculation on pg. 2 Gin-rent Pay Payroll deductions Net Pay Shaggy $6,100.00 Scooby 5,450.00 Velma 5,850.00 Daphne 5,925.00 $23,325.00 GA 9: NAME: Show your calculations for A: B. Prepare the journal entry to record the current payroll on Mystery's books. TA: GA 9: NAME: C. Calculate Mystery's payroll taxes. D. Prepare the entry to record Mystery's payroll taxes from C. B. What is the total cost of this payroll to Mystery? F. What is one topic from this semester that you would like your TA to review at the nal exam review session? TA

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