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You are the payroll accountant for Multi Winds Energy of Cornelius, North Carolina, whose employees are paid biweekly. An employee, L . Larson, comes to

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You are the payroll accountant for Multi Winds Energy of Cornelius, North Carolina, whose employees are paid biweekly. An employee, L. Larson, comes to you on September 14 and requests a pay advance of $1,080, which will be paid back in equal parts on the September 24 and October 22 paychecks. The employee is single, has no dependents, is paid $56,500 per year, contributes 5 percent of gross pay to a 401(k) plan, and has $250 per paycheck deducted for a court-ordered garnishment. Assume that no pre-tax deductions exist for the employee and box 2 is not checked.
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Compute the net pay for the September 24 paycheck. The state income tax rate is 5.25 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. Note: Round your intermediate calculations and final answer to 2 decimal places.
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