A. Compute for the Net Taxable Income and Personal Income Tax. 1. A. Annual Basic Salary B. 13th Month Pay and Other Benefits C. Mandatory Contributions D. Annual Gross Income (A+B) E. Deductions and Exemptions (B+C) P 397,860.00 33,155.00 6,542.00 Net Taxable Income (D-E) Personal Income Tax

Haresh

Question 21: For an employee who is paid monthly, completed the pre-2020 Form W-4, and claims 3 federal withholding allowances, $ subtracted from gross pay for withholding allowances prior to calculating the federal income tax withholding under the percentage method. would be

Amounts to Be Reported on Wage and Tax Statements (Form W-2)                             Gross   Federal Income   Social Security   Medicare     Employee   Earnings   Tax Withheld   Tax Withheld   Tax Withheld                           Arnett    $    8,250.00    $   1,416.00    $     495.00    $     123.75     Cruz        57,600.00        9,996.00        3,456.00           864.00     Edwards        24,000.00        4,776.00        1,440.00           360.00     Harvin          6,000.00        1,070.00           360.00             90.00     Nicks       110,000.00       25,850.00        6,600.00        1,650.00     Shiancoe       116,000.00       26,000.00        6,960.00        1,740.00     Ward          7,830.00        1,314.00           469.80           117.45     Totals    $ 329,680.00        $ 19,780.80    $   4,945.20                                                                     Employer Payroll Taxes                       a. Social security…