Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me explain ebook Pri tem Example 4-3 To use the wage bracket method, follow the steps illustrated below. Step 1 Select the withholding

please help me explain
image text in transcribed
image text in transcribed
image text in transcribed
ebook Pri tem Example 4-3 To use the wage bracket method, follow the steps illustrated below. Step 1 Select the withholding table that applies to the employee's marital status and pay period. - Adrienne Huff is married and daims allowances. She is paid weekly at a rate of 5815 Step 2 - Locate the appropriate wage bracket (see Figure 4.7) Locate the wage bracket (the first two columns of the table) in which the employee's gross wages fall At least $810 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 wllowances. Withhold the amount of the Move across the line to the column showing allowances The tax to withhold is $35. Sean Matthews is a water at the Duluxe Lounge. In his first weekly pay in March, he camed $300.00 for the 40 hours he worked. In addition, he reports his tips for February to this employer ($500.00), and the employer withholds the appropriate taxes for the tips from this first pay in March Calculate his mottakehon pay tuming the employer withheld federal income tax (wage-bracket,single, 1 allowances), social security taxes, and state income tax (1%). Enter deductions beginning with a minus sign (-). Round interim amounts to two decimal places. Use these values in subsequent computations then round final answer to two decimal places. Click here to access the Wage-blacket Method Tables Oseck My Work 10 more Check My Works remang Previous Next BOOK Prun llom Example 4-3 To use the wage bracket method, follow the steps illustrated below. Step 1 Sect the withholding table that applies to the employees marital status and pay period. Step 2 Locate the wage bracket (the first two columns of the table in which the employee's gross wages fall Adrienne Huif is married and aims allowance. She is paid weekly at a rate of $815 - Locate the appropriate wage bracket (see Figure 4.7); MOTO Beethan $21 Step a Follow the line for the wage brackets to the night to the column showing the appropriate mber of allowances withhold this amount of tax Move across the line to the colon showing towance The tax to withhold is $35 Sean Matthews wa water at the Dule Lounge, the first weekly pay a Marcu, he earned $300.00 for the 40 hours he worked. In addition, the reports i tipu for February to his employer ($500.00), and the employer withholds the appropriate takes for the tips from this first pay in March Calculate his net tok home pay assuming the employer withheld federal income tax (wage bracket ind, 1 allowances), social secay tanes, and state income tax ). Enter deductions beginning with a minussion (-). Round interim amounts to two decimal places. Use these values in subsequent computations then round final answer to two decimal places Click here to access the Wage Bracket Method Tables

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

Cost Accounting A Managerial Emphasis International

Authors: Charles T. Horngren, Srikant M. Datar, George Foster

11th Edition

8120323548, 978-8120323544

More Books

Students also viewed these Accounting questions

Question

develop ideas for a research project;

Answered: 1 week ago