Question
On problem 4-1A of Payroll Accounting (Bieg) 2018, I need some help. Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly
On problem 4-1A of Payroll Accounting (Bieg) 2018, I need some help. Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($500.00), and the employer withholds the appropriate taxes for the tips from this first pay in March. Calculate his net take-home pay assuming the employer withheld federal income tax (wage-bracket, married, 2 allowances), social security taxes, and state income tax (2%) (0.02). Here is what I have Problem 4-1A Sean Matthews Gross pay $800 0r should this be $300? Federal income tax $ 55.00 Social security taxes 49.60 Medicare taxes 11.60 State income tax (2%) 16.00 Net pay 167.80
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