Answered step by step
Verified Expert Solution
Question
1 Approved Answer
QS 9-14A Net pay and tax computations LO P5 The payroll records of Speedy Software show the following information about Marsha Gottschalk, an employee, for
QS 9-14A Net pay and tax computations LO P5 The payroll records of Speedy Software show the following information about Marsha Gottschalk, an employee, for the weekly pay period ending September 30. Gottschalk is single and claims one allowance. Compute her Social Security tax (6.2%), Medicare tax (1.45%), federal income tax withholding (use the withholding table in Exhibit 9A.6), state income tax (1.0%), and net pay for the current pay period. (Round your final answers to 2 decimal places.) Total (gross) earnings for current pay period Cumulative earnings of previous pay periods $ 615 $7,995 Gross pay Social security tax deduction Medicare tax deduction Federal income tax deduction State income tax deduction Total deductions Net pay 0.00 0.00 $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started