DIRECTIONS: Taxable earnings should be computed on the basis of a 40-hour week with overtime earnings being paid at time and one-half for all hours over 40 each workweek (no overtime for salaried employees). All employees' wages are subject to the OASDI tax of 6.2% and the HI tax of 1.45%. The supplemental HI rate of 0.9% is not applicable. Click here to access the Left Side of Payroll Register Table Use the partial wage-bracket tables provided to determine the amount of federal income tax to be withheld. For the salaried employees (#32 and #10), use the percentage method table. All workers are employed in a state that imposes a 2% income tax on the gross wages earned by each worker. Click here to access the Percentage Method Tables. Click here to access the Wage-Bracket Method Tables. If an amount box does not require an entry, enter "0". Round your answers to 2 decimal places. If problem PR.04.31AT wasn't assigned, you will first need to use the link to the left side of the payroll register to calculate regular earnings. Regular earnings are added to overtime earnings to arrive at total earnings. (right side) 20-- OVERTIME EARNINGS DEDUCTIONS NET PAY EMPLOYEE'S NO. FICA TAXES MARTIAL STATUS NO. W/H ALLOW. CLAIMED NO. HOURS (O/T) RATE PER HOUR AMOUNT TOTAL EARNINGS OASDI HI FEDERAL INCOME TAX STATE INCOME TAX CHECK NO. AMOUNT S 2 $ $ $ $ $ 411 $ 41 M 5 412 32 M 0 413 63 S 1 414 54 M 2 415 45 S 0 416 16 S 1 417 7 M 3 418 28 M 0 419 49 S 1 420 10 … $ $ $ $ $ …

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter8: Employer Taxes, Payments, And Reports

Section: Chapter Questions

Problem 4E

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DIRECTIONS: Taxable earnings should be computed on the basis of a 40-hour week with overtime earnings being paid at time and one-half for all hours over 40 each workweek (no overtime for salaried employees).

All employees' wages are subject to the OASDI tax of 6.2% and the HI tax of 1.45%. The supplemental HI rate of 0.9% is not applicable.

Click here to access the Left Side of Payroll Register Table

Use the partial wage-bracket tables provided to determine the amount of federal income tax to be withheld. For the salaried employees (#32 and #10), use the percentage method table.

All workers are employed in a state that imposes a 2% income tax on the gross wages earned by each worker.

Click here to access the Percentage Method Tables.

Click here to access the Wage-Bracket Method Tables.

If an amount box does not require an entry, enter "0". Round your answers to 2 decimal places.

If problem PR.04.31AT wasn't assigned, you will first need to use the link to the left side of the payroll register to calculate regular earnings. Regular earnings are added to overtime earnings to arrive at total earnings.

(right side)
					20--
		OVERTIME EARNINGS		DEDUCTIONS	NET PAY	EMPLOYEE'S NO.
						FICA TAXES
MARTIAL STATUS	NO. W/H ALLOW. CLAIMED	NO. HOURS (O/T)	RATE PER HOUR	AMOUNT	TOTAL EARNINGS	OASDI	HI	FEDERAL INCOME TAX	STATE INCOME TAX	CHECK NO.	AMOUNT
S	2				$	$	$	$	$	411	$	41
M	5									412		32
M	0									413		63
S	1									414		54
M	2									415		45
S	0									416		16
S	1									417		7
M	3									418		28
M	0									419		49
S	1									420		10
			…		$	$	$	$	$	…	$

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