1. Determine the amount of weekly federal income tax to be withheld using the wage bracket method....
Question:
1. Determine the amount of weekly federal income tax to be withheld using the wage bracket method. Scroll to view all tables on the page.
Gross Earning | Marital Status | Allowances | Amount |
$469.90 | Single | 3 | $ |
2.
Round your answer to the nearest cent.
Compute Medicare using 1.45%.
Gross Earnings | Medicare |
$408.11 | $ |
3.
Round your answer to the nearest cent.
Calculate the state income tax for the following employee using a 4.5% state income tax rate.
Employee | Earnings This Pay Period | State Income Tax Withheld |
Leroy Washington | $980.85 | $ |
4.
Place comma sign in answer as needed. Round your answer to the nearest cent.
Calculate the amount the employer must send to the IRS.
Employee's Federal Income Tax: $505.00 |
Employee's Social Security: $202.69 |
Employee's Medicare: $47.40 |
$ |
5.
Round your answer to the nearest cent.
Determine the amount of weekly federal income tax to be withheld using the percentage method.
Gross Earnings | Allowances | Marital Status | Amount |
$610.00 | 4 | Single | $ |
6.
Determine the amount of weekly federal income tax to be withheld using the wage bracket method. Scroll to view all tables on the page.
Gross Earning | Marital Status | Allowances | Amount |
$586.97 | Married | 3 | $ |
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen