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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Use the percentage method of income tax calculation to complete the following payroll roster.

Employee Marital Status Withholding Allowances Pay Period Gross Earnings Income Tax Withholding
White, W. S 0 Semimonthly $1,227 ______

To determine

To calculate: The income tax of a single employee White, W. with no withholding allowances and gross earnings $1,227 in semimonthly pay period by use of percentage method.

Explanation

Given Information:

A single employee White, W. with zero withholding allowances and gross earnings $1,227 in semimonthly pay period.

Formula used:

The formula to calculate income tax of a single employee White, W. in semimonthly pay period with gross earnings $1,227and zero withholding allowances is given below,

Step 1: Refer exhibit 9-1, the total withholding allowances amount for Randolph, B. is obtained by multiplying one withholding allowance amount $76, to number of claimed withholding allowances.

Step 2: Subtract the total withholding allowances amount from gross earnings to get Randolph, B. wages amount due to federal income tax.

Step 3: Refer exhibit 9-2, table 1(b), and wages amount to find the amount of income tax withheld for Randolph, B. in weekly pay period.

Calculation:

The provided information is,

A single employee White, W. with gross earnings $1,227 and zerowithholding allowances in semimonthly pay period.

Refer exhibit 9-1 and by the above formula in semimonthly pay period. Then the total allowance withheld is given below,

Total withholding allowance=one withholding allowance amount×number of claimed allowance=$164.60×0=$0

The wages amount or taxable income of White, W

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