Tam Worldly’s weekly gross earnings for the present week were $2,000. Worldly has two exemptions. Using the wage bracket withholding table in Exhibit 2 with a $75 standard withholding allowance for each exemption, what is Worldly’s federal income tax withholding?

Q: Donald Chin works for Northwest Supplies. His rate of pay is $12.00 per hour, and he is paid 1½…

A: 1. Compute Chin's regular pay, overtime pay, gross pay, and net pay.

Q: Federal Income Tax Withholding Bob Avery's weekly gross earnings for the present week were $2,390.…

A: The applicable wages for tax withholding is the difference of the gross earnings and the exemption…

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Federal income tax refers to the tax levied by the Internal Revenue Service (IRS) on the desired…

Q: Marsha Mellow’s weekly gross earnings for the present week were $1,250. Mellow has one exemption.…

A: Calculate the amount subject to withholding.

Q: Warren is a married employee with five withholding allowances. During the most recent biweekly pay…

A: Gross Earning 11,700 Less: Withholding allowance: (161.5 × 5) (807.5) Earnings liable for…

Q: Rudolph Fabrizio earned gross pay of $3,600. Each period he contributes 4% of gross pay to a…

A: The wage base cap for social security tax for 2020 is $ 137700.  As Rudolph fabrizio current year…

Q: Catherine is employed in ABC Corporation. She received the basic wage for 2015 in the total amount…

A: Tax refers to the amount charged by the government from the individual or companies on the income…

Q: Leonard is employed and received a gross salary of £3,452 per month during tax year 2021-22. He also…

A: For Class1 On income between £797 and £4,189 tax rate is 12% For Class2 rate of tax is £3.05 a week.…

Q: Miguel, a single teacher, earns $1,500 every two weeks (biweekly). He claims two allowances. What is…

A: Federal Income tax Withhold For calculating the Federal Income tax with by using Wage bracket method…

Q: Dan Smith receives an hourly wage rate of $30 if Dan worked 40 hours for the current week and the…

A: Total wages = hourly wage rate x no. of hours worked = $30 x 40 hours = $1200

Q: Lopez Company has a single employee, who earns a salary of $2,500 per pay perlod (or $60,000 per…

A: Given that: Salaries Expense = $2500 per pay period

Q: Joel, an employee of Cruise​ Travel, Inc., has gross salary for March of​ $5,200. The entire amount…

A: FICA taxes are US payroll taxes calculated on employees wages. FICA tax rates are expressed in…

Q: Dr. Josef Young earns an adjusted gross weekly income of $2,517. How much Social Security tax should…

A: Formula: Social security tax = Gross weekly income x social security tax rate Multiplying social…

Q: An employer is required to withhold 7.65 percent of the first $62,700 of an employee's income for…

A: Social tax security is a compulsory contribution of employer and employee. It funds the retirement,…

Q: Gary Marks is paid on a monthly basis. For the month of January of the current year, he earned a…

A: Payroll Taxes = FICA SS Tax + FICA Medicare Tax + FUTA Tax + SUTA Tax= 544.87+ 127.42 + 42 +…

Q: K is self-employed. His annual estimated tax payment for 2021 to be $4500. K has over payment of…

A: Given, Tax payment amount is $4,500 Over payment amount is $120

Q: Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he…

A: Formula: Net pay = Gross salary - Social security tax - FICA tax - Tax withheld

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Net pay = January Earnings - Federal Income tax withholdings - Social security tax - Medicare tax…

Q: Colin Friedman's weekly gross earnings for the week ending March 9 were $710, and her federal income…

A:

Q: Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he…

A: Formula: Net pay = Gross pay - Total deductions

Q: Paquito, a university instructor, earns a gross monthly salary of ₱46,200.00. Paquito is married and…

A: Net income is the final income received the employee from the employer after deducting all…

Q: is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay…

A: Normal Pay                     $20×40            =$800 Over time pay                 $30×10…

Q: Prior to the current period, Jack had earnings subject to FICA tax of $133,500. During the current…

A: Withholding tax refers to social security tax and Medicare tax. Social security tax is 6.2% on the…

Q: Paquito, a university instructor, earns a gross monthly salary of ₱46,200.00. Paquito is married and…

A: Tax is financial charge or levy imposed by the government or taxation authorities of the country to…

Q: Paquito, a university instructor, earns a gross monthly salary of ₱46,200.00. Paquito is married and…

A: Net income per month = 46200 - 590 - 397.50 - 100 - 4300 = 40812.50 Net income per year = 40812.50 *…

Q: If an employee makes $1,400 per month and files as single with no withholding allowances, what would…

A: Withholding Tax Withholding tax is define as the income tax which is paid to government by the payer…

Q: Kendall, who earned $130,800 during 2021, is paid on a monthly basis, is married, (spouse does not…

A: Federal tax withholding is the amount of money deducted from salary of an individual by his…

Q: Herman Swayne is a waiter at the Dixie Hotel. In his first weekly pay in March, he earned $360.00…

A: Under the wage payment method of withholding taxes, federal taxes are withheld as per the rates…

Q: Cal Ruther, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During the…

A: Definition: Journal entry: It is the entry to record the financial and business transactions and has…

Q: Jamal received a salary of £47,000 (PAYE deducted in year £5,000) and £10,000 deposits interest in…

A: Allowances seem to be financial advantages granted to workers by their employers in addition to…

Q: An employee has year-to-date earnings of $115,400. The employee’s gross pay for the next pay period…

A: FICA--OASDI Tax: FICA--OASDI stands for Federal Insurance Contributions Act for Old Age, Survivor…

Q: Baker Green's weekly gross earnings for the week ending December 7 were $2,000, and her federal…

A: Net Pay = Gross earnings - Federal income tax - Social Security rate - Medicare   Social Security…

Q: Kenneth McFarland's weekly gross earnings for the week ending March 9 were $2,170, and her federal…

A: Formula: Net pay = Gross pay - All deductions

Q: Jason's gross pay for the week is $1,900. His yearly pay is under the limit for OASDI. Assume that…

A: When a company records the compensation of its employees, such type of accounting is known as…

Q: Harriet Pandel, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During…

A: FICA tax:   FICA tax refers to the Federal Insurance Contribution Act tax which is Country U law…

Q: a. Cal Ruther, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During the…

A: Journal entry refers to an entry that is made to record the transactions which are financial in…

Q: Monty's gross earnings  for the week were $1450, his federal income  tax  withholding  was $318,and…

A: Monty's gross earning per week = $1450 Total gross income per month = $1450 x 4 weeks…

Q: A married employee who earns $17/hour, works 38 hours during a recent week, is paid weekly, and…

A: Wage-bracket method :            This method is used to determine that how much money employers…

Q: Catherine is employed in ABC Corporation. She received the basic wage for 2015 in the total amount…

A: Tax is a charge which is charged on the taxable income of a taxpayer. The withholding tax is the tax…

Q: Carmen Flores’ weekly gross earnings for the week ending Dec. 7th were $3,000, and her federal…

A: Social tax security is a compulsory contribution of employer and employee. It funds the retirement,…

Q: Bob Browning's weekly gross earnings for the present week were $2,440. Browning has two exemptions.…

A:

Q: Assume that the MUST Co. pays a weekly payroll. Using the portion of the Wage Bracket Withholding…

A:

Q: Nathan Upton earns $11.80/hour, and worked 42 hours during the most recent week. He does not make…

A: Social security tax refers to the benefit that is received each year by the person who is retired,…

Q: Borden Company received a federal tax levy on John Kline. Kline is single, claims 2 personal…

A: Correct answer is $543.07    $fill in blank 1 = $543.07 (Federal tax levy)

Q: John Woods’ weekly gross earnings for the present week were $2,500. Woods has two exemptions. Using…

A: Allowance per exemption = $80. Woods has two exemptions and so the amount of allowance that will be…

Q: a. Cal Ruther, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During the…

A: Working Notes: 1. FICA Taxes payable-OASDI A/c = ($8500*6.2%) = $527   2. FICA Taxes payable-HI A/c…