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Provide the formulas in Excel (IF, Absolute Cell References etc.) for these answers. Question Link - https://www.chegg.com/homework-help/questions-and-answers/use-excel-calculate-various-payroll-withholdings-net-pay-create-related-journal-entries-lo-q75874992?trackid=HkqeTZKa Federal Income tax State Income tax thumbs up!
Provide the formulas in Excel (IF, Absolute Cell References etc.) for these answers.
Question Link - https://www.chegg.com/homework-help/questions-and-answers/use-excel-calculate-various-payroll-withholdings-net-pay-create-related-journal-entries-lo-q75874992?trackid=HkqeTZKa
Federal Income tax State Income tax thumbs up! Data 25% NY CO FICA 128400$ 5% 10% Social security taxes Medicare Tax Health insurance 6.20% 1.45% for those elect coverage 400$ Payroll Spreadsheet Data Employee Year to date wages as of 11-03-19 ($) State of residency Elected health care Insurance Wages for Federal December 2019 ($) income tax ($) State income taxes ($) B c CO NY 55000 108000 137500 38000 220000 Y N Y N Y 5000 9000 12500 6500 20000 53000 NY 1250 2250 3125 1625 5000 13250 500 450 625 650 1000 3225 Deductions FICA- FICA- Social Medicare security taxes ($) Taxes ($) 310 72.5 558 130.5 0 181.25 403 94.25 0 290 1271 768.5 Health Total Insurance Deductions Net Pay ($) ($) 400 2532.5 2467.5 0 3388.5 5611.5 400 4331.25 8168.75 0 2772.25 3727.75 400 6690 13310 1200 19714.5 33285.5 CO D Employee NY Employee Payroll Tax expenses Data Employer Payroll deductions Year to date wages as of Elected Health Wages for December FICA - Social FICA - MedicaRE Total 11-03-19 ($) State of residency care Insurance 2019 security Taxes taxes Deductions 55000 CO Y 5,000 310 72.5 382.5 108000 NY N 9,000 558 130.5 688.5 137500 NY Y 12,500 0 181.25 181.25 38000 CO N 6,500 403 94.25 497.25 220000 NY Y 20,000 0 290 290 Total 53000 1271 768.5 2039.5 B D E Federal Income tax State Income tax thumbs up! Data 25% NY CO FICA 128400$ 5% 10% Social security taxes Medicare Tax Health insurance 6.20% 1.45% for those elect coverage 400$ Payroll Spreadsheet Data Employee Year to date wages as of 11-03-19 ($) State of residency Elected health care Insurance Wages for Federal December 2019 ($) income tax ($) State income taxes ($) B c CO NY 55000 108000 137500 38000 220000 Y N Y N Y 5000 9000 12500 6500 20000 53000 NY 1250 2250 3125 1625 5000 13250 500 450 625 650 1000 3225 Deductions FICA- FICA- Social Medicare security taxes ($) Taxes ($) 310 72.5 558 130.5 0 181.25 403 94.25 0 290 1271 768.5 Health Total Insurance Deductions Net Pay ($) ($) 400 2532.5 2467.5 0 3388.5 5611.5 400 4331.25 8168.75 0 2772.25 3727.75 400 6690 13310 1200 19714.5 33285.5 CO D Employee NY Employee Payroll Tax expenses Data Employer Payroll deductions Year to date wages as of Elected Health Wages for December FICA - Social FICA - MedicaRE Total 11-03-19 ($) State of residency care Insurance 2019 security Taxes taxes Deductions 55000 CO Y 5,000 310 72.5 382.5 108000 NY N 9,000 558 130.5 688.5 137500 NY Y 12,500 0 181.25 181.25 38000 CO N 6,500 403 94.25 497.25 220000 NY Y 20,000 0 290 290 Total 53000 1271 768.5 2039.5 B D EStep by Step Solution
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