Question: How do you solve this problem? *Updated: Added some more pictures. Hope it clears things up. Hark Enterprises in Taft, Wyoming, has six employees who
How do you solve this problem? *Updated: Added some more pictures. Hope it clears things up.
"Hark Enterprises in Taft, Wyoming, has six employees who are paid on a semimonthly basis. Calculate the net pay from the information provided below for the August 15 pay date. Assume that all wages are subject to Social Security and Medicare taxes. Use the wage-bracket tables in Appendix C to determine the Federal income tax withholding. (Round your intermediate calculations and final answers to 2 decimal places.)
Required:
a.
L. Fletcher:
Married, five withholdings
Gross pay: $1,320 per period
401(k) deduction: 2% of gross pay per pay period
b.
S. Lince
Single, no withholdings
Gross pay: $1,745 per period
401(k) deduction: $220 per pay period
c.
A. Brown
Single, five withholdings
Gross pay: $2,120 per period
Section 125 deduction: $25 per pay period
401(k) deduction: $150 per pay period
d.
R. Kimble
Married, six withholdings
Gross pay: $1,570 per period
United Way deduction: $25 per pay period
Garnishment: $75 per period
e.
F. Monteiro
Married, no withholdings
Gross pay: $2,200 per period
Section 125 deduction: $100 per period
401(k) deduction: 4% of gross pay
f.
K. Giannini
Single, two withholdings
Gross pay: $1,485 per period
401(k) deduction: $120 per period"


----



*
Run Date 10/14/2016 Company Name: Tooka's Trees P/R Date 10/14/2016 Check Date: 10/14/2016 No. of Overtime Hours Taxable Wages for Hourly RateNo. of Taxable No. of Holiday Commissio Earning Hours Gross 401(k) Regular Hours Name MIS Cafeteria Plan Wages for WH or Period wage Federal WH FICA 28.40 S Fletcher, L Lince, S Brown, A Kimble, R Monteiro, F Giannini, K 5 S 1,320.00 S 1,745.00 5 S 2,120.00 S 1,570.00 2.200.00 2 S 1,485.00 S 1,320.00 S S 1,745.00 S 220.00 S S 2,120.00 S 150.00 S S 1,570.00 S S 2,200.00 S S 1.485.00 3 120.00 S S 10,44000S04.40S125.00S 9710.60 6,120.00 0S 1,293.60S1,320.00 r s 1,525.00 S 1,745.00 25.00 S 1,945.00 0.00 5 0.00 S 1,570.00 S 1,570.00 S 100.00 S 2.012.00 0.00 S 1,365.00 S 1,485.00 Totals
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
