Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Points: 0 of 4 30 points Save Question list Compute the net pay for each employee using the federal income tax withholding table included. Assume

image text in transcribed
Points: 0 of 4 30 points Save Question list Compute the net pay for each employee using the federal income tax withholding table included. Assume that FICA Social Security tax is 6.2% on a wage base limit of $142,800, Medicare is 1.45% on all earnings, the payroll is paid biweekly, and no state income tax applies. (Round each computation to the nearest cent as needed.) View the amninyoo information View the hiwookly navrall norind norrantand mothnol withholling chart Question 1 Compute the net pay for each employee. O Question 2 Alvin Pang William Pierce Gross earnings for the current pay period Question 3 Deductions for employee withholding taxes BIWEEKLY Payroll Period Percentage Method Withholding Chart Question 4 Total deductions STANDARD Withholding Rate Schedules Single or Married Filing Separately Question 5 Net pay of the amount that The tentative the Adjusted amount to Plus this Wage - X withhold is: percentage- exceeds- Employee Information Adjusted wage amount is at least $0, but less than $483 0.00 % O Adjusted wage amount is at least $483, but less than $865 0.00 10% 483 Adjusted wage amount is at least $865, but less than $2,041 38.20 12% 865 Employee Status Cumulative Pay Biweekly Pay Adjusted wage amount is at least $2,041, but less than $3,805 179.32 22% 2,041 Alvin Pang Single EA 63,300 $ 1,720 Adjusted wage amount is at least $3,805, but less than $6,826 567.40 24% 3.805 William Pierce Single 59,000 1.560 Adjusted wage amount is at least $6,826, but less than $8,538 1,292.44 32% 6.826 Adjusted wage amount is at least $8,538, but less than $20,621 1,840.28 35% 8.538 Adjusted wage amount is at least $20,621 6,069.33 37% 20,621 Print Done 1:16 PM

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

Payroll Accounting 2020

Authors: Bernard J. Bieg, Judith A. Toland

30th edition

357117174, 978-0357117170

More Books

Students also viewed these Accounting questions

Question

8. How can an interpreter influence the message?

Answered: 1 week ago