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Tooka's Trees in Auburn, Tennessee, has six employees who are paid biweekly. Assume that all wages are subject to Social Security and Medicare taxes. All
Tooka's Trees in Auburn, Tennessee, has six employees who are paid biweekly. Assume that all wages are subject to Social Security and Medicare taxes. All 401(k) and qualified Section 125 amounts are pre-tax deductions. The wages are not subject to state taxes.
Required Calculate the net pay from the information provided below for the November 15 pay date. Use the Wage Bracket Method Tables for Income Tax Withholding in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.) wvithho dC (Roun T. Taylor Single, four withholdings Gross pay: $1,500 per period 401(k) deduction: $125 per pay period B. Walburn Married, six withholdings Gross pay: $2,225 per period 401(k) deduction: $250 per period C. H. Carpenter Single, no withholdings Gross pay: $2,100 per period Section 125 deduction: $75 per period 401(k) deduction: $50 per period J. Knight Married, three withholdings Gross pay: $1,875 per period United Way deduction: $50 per period Garnishment: $50 per period C. Lunn Single, one withholding Gross pay: $1,200 per period Section 125 withholding: $50 per period 401(k) deduction: 6% of gross pay E. Smooter Married, eight withholdings Gross pay: $2,425 per period 401(k) deduction: $75 per period Run Date Company Name: Tooka's Trees P/R Date Check Date: 11/15 # of | Hourly Rate W/H or Period | No. of Regular No. of Taxable Taxable No. of Holiday Hours Gross Earning Name M/S 401(k) Section 125 Wages for Wages for wage Hours Hours Federal W/H FICA T. Taylor B. Walburn H. Carpenter J. Knight C. Lunn E. Smooter 5 1,500.00 125.00 5 2.225.00 250.00 5 2,100.00 5 1,875.00 5 1,200.00 5 2,425.00E S s 11,325.00 500.00S 50.00 0.00 75.00 Totals 0.00S 0.00S Taxable Taxable Gross Earning Medicare Name s for Wages for Federal WH Social Garnishment United WayNet Pay Check No Security Tax W/H Federal W/H FICA T. Taylor B. Walburn H. Carpenter J. Knight C. Lunn E. Smooter 5 1,500.00 2,225.00 5 2,100.00 5 1,875.00 S 1,200.00 5 2.425.00 Totals 11325.00 0.00S 0.00S 0.00S 0.00S 0.00S 0.00S 0.00S s 0.00Step by Step Solution
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