Morgan is paid $2,815.50 per week. What is the amount of federal income tax withheld from Morgan's paycheck under the following conditions? Assume that Morgan has only one job or that step 2 of Form W-4 is not checked. Also, her employer uses the Percentage Method Tables for Automated Systems. Use percentage method tables for automated systems.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please Correct solution with Explanation and Do not Give image format
(Use these if the Form W-4 is from 2019 or earlier, or if the Form W-4 is
from 2020 or later and the box in Step 2 of Form W-4 is NOT checked. Also use these for
Form W-4P from any year.)
If the Adjusted Annual Wage
Amount on Worksheet 1A or the
Adjusted Annual Payment
Amount on Worksheet 1B is:
But less than
At least-
A
$0
$ 13,000
$ 33,550
$ 96,550
$ 191.150
$ 353,100
$ 444,900
$ 660,850
$0
$ 4,350
$14.625
$ 46,125
$93,425
$ 174,400
$ 220,300
$ 544,250
2022 Percentage Method Tables for Automated Payroll Systems and Withholding on Periodic Payments of Pensions and Annuities
STANDARD Withholding Rate Schedules
$0
$ 10,800
$25.450
$ 66,700
$ 99,850
$ 180,850
$ 226,750
$ 550,700
-
B
$ 13,000
$ 33,550
$ 96,550
$ 191,150
$ 353,100
$444,900
$ 660,850
The tentative
amount to
withhold is:
C
Married Filling Jointly
$ 0.00
$ 0.00
$ 2,055.00
$9,615.00
$ 30,427.00
$ 69,295.00
$98.671.00
$174.253.50
$ 10,800
$ 25,450
$ 66,700
$ 99,850
$ 180,850
$226.750
$ 550,700
Plus this
percentage-
D
Single or Married Filling Separately
$4,350
$ 14,625
$ 46,125
$ 93,425
$ 174,400
$ 220.300
$544,250
$ 0.00
$ 0.00
$ 1,027.50
$4,807.50
$15.213.50
$34,647.50
$ 49,335.50
$ 162,718.00
Head of Household
$ 0.00
$ 0.00
$ 1,465.00
$ 6,415.00
$ 13,708.00
$ 33,148.00
$ 47,836.00
$ 161,218.50
0%
10%
12%
22%
24%
32%
35%
37%
0%
10%
12%
22%
24%
32%
35%
37%
0%
10%
12%
22%
24%
32%
35%
37%
of the amount
that the
Adjusted
Annual Wage
or Payment
exceeds-
E
$0
$13,000
$33,550
$ 96,550
$ 191,150
$ 353,100
$ 444,900
$ 660,850
$0
$ 4.350
$ 14,625
$ 46,125
$93.425
$ 174,400
$ 220.300
$ 544,250
$0
$ 10,800
$ 25,450
$ 66,700
$ 99,850
$ 180,850
$ 226,750
$ 550,700
Form W-4, Step 2, Checkbox, Withholding Rate Schedules
(Use these if the Form W-4 is from 2020 or later and the box in Step 2 of
Form W-4 IS checked)
If the Adjusted Annual Wage
Amount on Worksheet 1A is:
But less than
At least-
A
$0
$ 12,950
$ 23,225
$ 54,725
$ 102,025
$ 183,000
$ 228.900
$336,875
$0
$ 6,475
$11,613
$ 27,363
$ 51,013
$ 91.500
$ 114,450
$ 276,425
$0
$9.700
$ 17,025
$ 37,650
$ 54.225
$94.725
$117.675
$ 279,650
The tentative
amount to
withhold is:
с
Married Filling Jointly
$ 0.00
$ 0.00
$ 1,027.50
$4,807.50
$ 15,213.50
$ 34,647.50
$ 49,335.50
$ 87,126.75
Single or Married Filling Separately
$ 6,475
$ 0.00
$ 0.00
$513.75
$ 11,613
$ 27,363
$ 51,013
$91,500
$ 114,450
$ 276,425
$2,403.75
$7.606.75
$17,323.75
$24.667.75
$ 81,359.00
Head of Household
B
$ 12.950
$ 23,225
$ 54,725
$ 102,025
$ 183,000
$ 228,900
$336,875
$ 9,700
$ 17.025
$ 37,650
$54.225
$ 94,725
$ 117,675
$ 279,650
$ 0.00
$ 0.00
$ 732.50
$ 3,207.50
$6,854.00
$ 16.574.00
$ 23,918.00
$ 80,609.25
Plus this
percentage-
D
0%
10%
12%
22%
24%
32%
35%
37%
0%
10%
12%
22%
24%
32%
35%
37%
0%
10%
12%
22%
24%
32%
35%
37%
of the amount
that the
Adjusted
Annual Wage
exceeds-
E
$0
$ 12,950
$23.225
$ 54,725
$ 102,025
$183,000
$ 228,900
$336,875
$0
$6,475
$ 11,613
$ 27,363
$ 51,013
$ 91,500
$ 114,450
$ 276,425
SO
$9,700
$ 17,025
$ 37,650
$ 54.225
$94.725
$ 117,675
$ 279,650
Transcribed Image Text:(Use these if the Form W-4 is from 2019 or earlier, or if the Form W-4 is from 2020 or later and the box in Step 2 of Form W-4 is NOT checked. Also use these for Form W-4P from any year.) If the Adjusted Annual Wage Amount on Worksheet 1A or the Adjusted Annual Payment Amount on Worksheet 1B is: But less than At least- A $0 $ 13,000 $ 33,550 $ 96,550 $ 191.150 $ 353,100 $ 444,900 $ 660,850 $0 $ 4,350 $14.625 $ 46,125 $93,425 $ 174,400 $ 220,300 $ 544,250 2022 Percentage Method Tables for Automated Payroll Systems and Withholding on Periodic Payments of Pensions and Annuities STANDARD Withholding Rate Schedules $0 $ 10,800 $25.450 $ 66,700 $ 99,850 $ 180,850 $ 226,750 $ 550,700 - B $ 13,000 $ 33,550 $ 96,550 $ 191,150 $ 353,100 $444,900 $ 660,850 The tentative amount to withhold is: C Married Filling Jointly $ 0.00 $ 0.00 $ 2,055.00 $9,615.00 $ 30,427.00 $ 69,295.00 $98.671.00 $174.253.50 $ 10,800 $ 25,450 $ 66,700 $ 99,850 $ 180,850 $226.750 $ 550,700 Plus this percentage- D Single or Married Filling Separately $4,350 $ 14,625 $ 46,125 $ 93,425 $ 174,400 $ 220.300 $544,250 $ 0.00 $ 0.00 $ 1,027.50 $4,807.50 $15.213.50 $34,647.50 $ 49,335.50 $ 162,718.00 Head of Household $ 0.00 $ 0.00 $ 1,465.00 $ 6,415.00 $ 13,708.00 $ 33,148.00 $ 47,836.00 $ 161,218.50 0% 10% 12% 22% 24% 32% 35% 37% 0% 10% 12% 22% 24% 32% 35% 37% 0% 10% 12% 22% 24% 32% 35% 37% of the amount that the Adjusted Annual Wage or Payment exceeds- E $0 $13,000 $33,550 $ 96,550 $ 191,150 $ 353,100 $ 444,900 $ 660,850 $0 $ 4.350 $ 14,625 $ 46,125 $93.425 $ 174,400 $ 220.300 $ 544,250 $0 $ 10,800 $ 25,450 $ 66,700 $ 99,850 $ 180,850 $ 226,750 $ 550,700 Form W-4, Step 2, Checkbox, Withholding Rate Schedules (Use these if the Form W-4 is from 2020 or later and the box in Step 2 of Form W-4 IS checked) If the Adjusted Annual Wage Amount on Worksheet 1A is: But less than At least- A $0 $ 12,950 $ 23,225 $ 54,725 $ 102,025 $ 183,000 $ 228.900 $336,875 $0 $ 6,475 $11,613 $ 27,363 $ 51,013 $ 91.500 $ 114,450 $ 276,425 $0 $9.700 $ 17,025 $ 37,650 $ 54.225 $94.725 $117.675 $ 279,650 The tentative amount to withhold is: с Married Filling Jointly $ 0.00 $ 0.00 $ 1,027.50 $4,807.50 $ 15,213.50 $ 34,647.50 $ 49,335.50 $ 87,126.75 Single or Married Filling Separately $ 6,475 $ 0.00 $ 0.00 $513.75 $ 11,613 $ 27,363 $ 51,013 $91,500 $ 114,450 $ 276,425 $2,403.75 $7.606.75 $17,323.75 $24.667.75 $ 81,359.00 Head of Household B $ 12.950 $ 23,225 $ 54,725 $ 102,025 $ 183,000 $ 228,900 $336,875 $ 9,700 $ 17.025 $ 37,650 $54.225 $ 94,725 $ 117,675 $ 279,650 $ 0.00 $ 0.00 $ 732.50 $ 3,207.50 $6,854.00 $ 16.574.00 $ 23,918.00 $ 80,609.25 Plus this percentage- D 0% 10% 12% 22% 24% 32% 35% 37% 0% 10% 12% 22% 24% 32% 35% 37% 0% 10% 12% 22% 24% 32% 35% 37% of the amount that the Adjusted Annual Wage exceeds- E $0 $ 12,950 $23.225 $ 54,725 $ 102,025 $183,000 $ 228,900 $336,875 $0 $6,475 $ 11,613 $ 27,363 $ 51,013 $ 91,500 $ 114,450 $ 276,425 SO $9,700 $ 17,025 $ 37,650 $ 54.225 $94.725 $ 117,675 $ 279,650
Morgan is paid $2,815.50 per week. What is the amount of federal income tax withheld from Morgan's paycheck under the following
conditions? Assume that Morgan has only one job or that step 2 of Form W-4 is not checked. Also, her employer uses the Percentage
Method Tables for Automated Systems. Use percentage method tables for automated systems.
Required:
a. Morgan is single and no dependents.
b. Morgan is married (spouse does not work) and claims two dependents who are under the age of 17.
c. Morgan is single, claims no dependents, but wants $50 in additional withholding.
Note: For all requirements, round your intermediate computations and final answers to 2 decimal places.
Answer is complete but not entirely correct.
Amount
a. Federal income tax withholdings
b. Federal income tax withholdings
c. Federal income tax withholdings
S
S
$
537.10 X
264.33✔
364.33 X
Transcribed Image Text:Morgan is paid $2,815.50 per week. What is the amount of federal income tax withheld from Morgan's paycheck under the following conditions? Assume that Morgan has only one job or that step 2 of Form W-4 is not checked. Also, her employer uses the Percentage Method Tables for Automated Systems. Use percentage method tables for automated systems. Required: a. Morgan is single and no dependents. b. Morgan is married (spouse does not work) and claims two dependents who are under the age of 17. c. Morgan is single, claims no dependents, but wants $50 in additional withholding. Note: For all requirements, round your intermediate computations and final answers to 2 decimal places. Answer is complete but not entirely correct. Amount a. Federal income tax withholdings b. Federal income tax withholdings c. Federal income tax withholdings S S $ 537.10 X 264.33✔ 364.33 X
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