Question: Retroactive Pay Example, Linda reports this error on her Payroll: Payroll Semi-Monthly Federal and Ont. Claim Code 2 Deduction from Taxable Income NONE Salary from

Retroactive Pay Example, Linda reports this error on her Payroll: Payroll Semi-Monthly Federal and Ont. Claim Code 2 Deduction from Taxable Income NONE Salary from Jan to June $36,000/yr or $1,500 per pay Salary from July to Dec $60,000/yr or $2,500 per pay ERROR!!!..Salary from Jan to Dec should have been: $60,000/yr or $2,500 per pay Employer forgot to inform and pay new salary until July 1 of this year. The new salary should have been effective, January 1 of this year. For Linda's next payroll or the Corrected, July 15 the payroll, what is the Total Gross Pay AND Income Tax on the Retroactive Lump Sum Pay only? Please apply "Manual Method' as reviewed in class Please Choose the BEST and MOST ACCURATE Answer. Total Gross Pay is, $14,000 Income Tax on the new semi-monthly pay only is , $356 Total Gross Pay is, $14,500 Income Tax on the new semi-monthly pay only is , $356 Total Gross Pay is, $14,500 Income Tax on the new semi-monthly pay only is , $2,544 Total Gross Pay is, $12,000 Income Tax on the new semi-monthly pay only is , $2,544

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