Question
There are a total of 10 mistakes on this paystub. Please assume the following: All names and addresses are correct. The Married status and the
There are a total of 10 mistakes on this paystub. Please assume the following: All names and addresses are correct. The Married status and the allowances for both Federal and State are correct. The fact that she worked 80 hours in the 2-week pay period is correct. Her Gross Pay for this pay period and the Year-To-Date Gross Pay is correct. The amounts deducted for Health, Dental, and Retirement are also correct for both this pay period and the Year-To-Date. The Health and Dental deductions are not exempt from any taxes and, therefore, should not be subtracted from the income before you calculate any taxes. Additional Facts Needed: Some Corporation pays it employees bi-weekly, with the pay period beginning on a Monday and ending on a Sunday. The company uses the Percentage Method to calculate ALL Federal Income Tax. Use the provided Tax Table for needed calculations. The paychecks are distributed the Friday following the end of the pay period. ALL employees of the company are paid on an hourly basis.
Below is the 8th paycheck of 2024 for Hope Kingsley, a brand new, hourly employee. NOTE: The format of the paystub is correct! Please do not get hung up on the wording of the items on the paystub or the format of how that information is displayed! Every company formats their paystubs a little differently! One additional mistake has been corrected for you so you can see how this assignment is supposed to be completed. Please note that the bi-weekly amounts and the year-to-date amounts should be considered SEPARATE mistakes, not one big mistake.
The paystub is as follows:
Some Corporation Earnings Statement 123 Somewhere Drive Ann Arbor, MI 48104 Hope Marie Kingsley 8670 Rogerson Drive Ann Arbor, MI 48104 Employee ID Number 98856 Job Title Administrative Assistant Social Security Number XXX-XX-6789 Department Number K7890 Pay Period 4/8/2024 - 4/21/2024 Pay Date 4/26/2024 Taxable Marital Status Married Filing Jointly Withholding Method: Federal Standard State Standard Earnings Rate Hours This Period Year To Date 1,200.00 80 1,200.00 9,600.00 Gross Pay 1,200.00 9,600.00 Deductions Federal Income Tax 121.99 975.92 State Income Tax 79.68 637.44 Social Security Tax 18.64 149.12 Medicare Tax 65.63 525.04 Health 76.58 612.64 Dental 26.56 212.48 Retirement* 50.00 400.00 Net Pay 760.92 6,087.36 * Excluded from federal and state income taxes only. Not excluded from FICA taxes
Tax Table:
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