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you are the payroll accountant for Multi Winds Energy of Cornelius, North Carolina, whose employees are paid biweekly. An employee, Larson, comes to you on
you are the payroll accountant for Multi Winds Energy of Cornelius, North Carolina, whose employees are paid biweekly. An employee, Larson, comes to you on September and requests a pay advance of $ which will be paid back in equal parts on the September and October paychecks. Larson is single, has no dependents, is paid $ per year, contributes percent of gross pay to a k plan, and has $ per paycheck deducted for a courtordered garnishment. Assume that no pretax deductions exist for the employee and box is not checked. This is for the tax year.
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Compute the net pay for Larson's September paycheck. The state income tax rate is percent. Use the wage bracket tables in Appendix C to determine the federal income tax withholding amount. You do not need to complete the number of hours.
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