Question: Figure 1.9 Example 4-9 From the above example, if you indicate separately on Robinson's paycheck stub the amount of each payment, the amount of

Figure 1.9 Example 4-9 From the above example, if you indicate separatelyon Robinson's paycheck stub the amount of each payment, the amount offeder be withheld is computed as follows: Regular monthly earnings Quarterly bonusTotals Taxes Withheld $2,400 $ 32.00 (from wage-bracket tax tables*) 4,600 1,012.00($4,600 x 22%) $7,000 $ 1,044.00 The calculation of Robinson's federal incometax for the quarter would be computed as follows: Taxes Withheld Regular

Figure 1.9 Example 4-9 From the above example, if you indicate separately on Robinson's paycheck stub the amount of each payment, the amount of feder be withheld is computed as follows: Regular monthly earnings Quarterly bonus Totals Taxes Withheld $2,400 $ 32.00 (from wage-bracket tax tables*) 4,600 1,012.00 ($4,600 x 22%) $7,000 $ 1,044.00 The calculation of Robinson's federal income tax for the quarter would be computed as follows: Taxes Withheld Regular monthly earnings $2,400 $32.00 x 3 months = Quarterly bonus 4,600 $ 96,00 (from wage-bracket tax table B*) 1,012.00 ($4,600 x 22%) $1,108.00 * The percentage table could also be used Note: OASDI and HI withholdings are calculated on total earnings per pay period multiplied by number of pay periods and then added toget arrive at a quarter's total withholding. Quarterly and year-to-date information would appear on Robinson's employee earnings record. The names of the employees of Cox Security Systems and their regular salaries are shown in the following payroll register. Note that Hall and S

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!