Question: Hi there! Can you please provide a step by step solution so I can better understand? Marbury is the payroll accounting at alls fair gifts.

Hi there! Can you please provide a step by step solution so I can better understand?

Marbury is the payroll accounting at alls fair gifts. The employees of alls fair gifts are paid semi monthly. Stan comes to Marbury on April 7 and request to pay advance of $1000 which Stan will pay back in equal parts on April 15 and May 15 paychecks. Sten is single with one dependent under 17, is paid $54,800 per year, contributes 3% of gross pay to a 401(k) and has $131 per paycheck deducted for a section 125 plan

Compute the net pay on Stans April 15 paycheck. The applicable state income tax rate is 5.25%. Use the wage bracket method for manual payroll system with forms W-4 from 2020 or later in appendix c to determine the federal income tax. Assume box 2 is not checked.

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