Problem 5-6A (Algo) Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: On Form W-4, complete Step 2, the Multiple Jobs Worksheet (when applicable) to obtain the amount for Step 4(c). Calculate the feder income tax withholding using the wage-bracket tables with Forms W-4 from 2020 or later in Appendix C. Note: Round your intermediate calculations and final answers to 2 decimal places. Employee L. Torabi Filing Status Dependents Annual Salary Spouse Annual Salary and Pay Frequency Federal Income Tax per Period S None $ 46,100 Not applicable R. Beninati S One Other $ 55,100 Not applicable G. Fisher MJ Three <17 $ 52,000 $80,000 per biweekly 292.31 J. Tillman MJ Two <17 $ 36,350 $21,810 per weekly

Problem 5-6A (Algo) Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: On Form W-4, complete Step 2, the Multiple Jobs Worksheet (when applicable) to obtain the amount for Step 4(c). Calculate the feder income tax withholding using the wage-bracket tables with Forms W-4 from 2020 or later in Appendix C. Note: Round your intermediate calculations and final answers to 2 decimal places. Employee L. Torabi Filing Status Dependents Annual Salary Spouse Annual Salary and Pay Frequency Federal Income Tax per Period S None $ 46,100 Not applicable R. Beninati S One Other $ 55,100 Not applicable G. Fisher MJ Three <17 $ 52,000 $80,000 per biweekly 292.31 J. Tillman MJ Two <17 $ 36,350 $21,810 per weekly

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 1PB

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Problem 5-6A (Algo) Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: On Form W-4, complete Step 2, the Multiple Jobs Worksheet (when applicable) to obtain the amount for Step 4(c). Calculate the federal income tax withholding using the wage-bracket tables with Forms W-4 from 2020 or later in Appendix C. Note: Round your intermediate calculations and final answers to 2 decimal places. Employee L. Torabi Filing Status S Dependents None Annual Salary Spouse Annual Salary and Pay Frequency Federal Income Tax per Period $ 42,500 Not applicable R. Beninati S One Other $ 51,500 Not applicable G. Fisher MJ Three <17 $ 48,000 $80,000 per biweekly J. Tillman MJ Two <17 SA 39,650 $23,790 per weekly
N1. Account Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: Complete the W-4 multi-jobs worksheet (when applicable) Section 2(b), for all employees, each will use the standard deduction, and calculate the federal income tax withholding using the wage-bracket tables in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.)
Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: Complete the W-4 multi-jobs worksheet (when applicable) Section 2(b), for all employees, each will use the standard deduction, and calculate the federal income tax withholding using the wage-bracket tables in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.) Federal Spouse Annual Salary or Pay Frequency Employee Filing Status Dependents Annual Salary Income Tax per Period L. Torabi None $ 41,400 Not applicable R. Beninati S One Other 2$ 50,900 Not applicable G. Fisher MJ Three <17 $ 46,560 S77600/ biweekly J. Tillman MJ Two <17 $ 42,580 $30800/ weekly
@ S Problem 5-6A (Algo) Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. X * Required: Complete the W-4 multi-jobs worksheet (when applicable) Section 2(b), for all employees, each will use the standard deduction, and calculate the federal income tax withholding using the wage-bracket tables in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.) Employee L. Torabi R. Beninati G. Fisher J. Tillman F2 # 3 E D Filing Status S S MJ MJ JUL 7 80 F3 $ 4 Dependents None One Other Three 8 Federal Income Tax per Period J DII F8 A CV B N M DD 9 F9 K ) O 4 O W F10 L < Check my work * P F11 {
Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required:Complete the W-4 multi-jobs worksheet (when applicable) Section 2(b), for all employees, each will use the standard deduction, and calculate the federal income tax withholding using the wage-bracket tables in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.) Employee Filling Status Dependents Annual Salary Spouse Annual Salary or Pay Frequency Federal Income Tax per period Torabi S None $39,500 Not Applicable Benintati S One Other $48,500 Not Applicable Fisher MJ Three<17 $45,300 $75,600/biweekly Tillman MJ Two<17 $42000 $27,500/biweekly
Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: On Form W-4, complete Step 2, the Multiple Jobs Worksheet (when applicable) to obtain the amount for Step 4(c). Calculate the federal income tax withholding using the wage-bracket tables with Forms W-4 from 2020 or later in Appendix C. Note: Round your intermediate calculations and final answers to 2 decimal places. Spouse Annual Salary and Pay Frequency Federal Income Tax per Period Employee L. Torabi Filing Status R. Beninati S S Dependents None Annual Salary S9 $ 50,300 Not applicable One Other $ SA 59,300 Not applicable G. Fisher MJ Three <17 $ 49,000 $70,000 per biweekly J. Tillman MJ Two <17 $ 32,500 $19,500 per weekly A
Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: Complete the W-4 multi-jobs worksheet (when applicable) Section 2(b), for all employees, each will use the standard deduction, and calculate the federal income tax withholding using the wage-bracket tables in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.) Employee L. Torabi R. Beninati G. Fisher J. Tillman Filing Status S S MJ MJ Dependents None One Other Three <17 Two <17 Annual Salary $ $ $ $ 41.400 50,900 46,560 42,580 Spouse Annual Salary or Pay Frequency Not applicable Not applicable $77600/ biweekly $30800/weekly Federal Income Tax per Period
Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: On Form W-4, complete Step 2, the Multiple Jobs Worksheet (when applicable) to obtain the amount for Step 4(c). Calculate the federal income tax withholding using the wage-bracket tables with Forms W-4 from 2020 or later in Appendix C Note: Round your intermediate calculations and final answers to 2 decimal places. Employee L Torabit Filing Status S Dependents None Annual Salary Spouse Annual Salary and Pay Frequency Federal Income Tax per Period $ 50,900 Not applicable R. Beninat S One Other $ 59,900 Not applicable G. Fisher MJ Three <17 $ 21,000 $30,000 per biweekly J. Tillman MJ Two <17 $ 31,950 $19,170 per weekly
Accounting Scenario 1 Clara Tate an employee of Harrow's Accounting Firm, worked 44 hours during the week of June 8 through 12. Her rate of pay is $15 per hour and she receives time-and-a-half for work in excess of 40 hours per week. She is married and claims two allowances on her W-4 form. Her wages are subject to the following deductions: Federal income tax (use the table in the link below). Social Security tax at 6.2 percent. Medicare tax at 1.45 percent. Union dues, $30.00 What you must do: Compute Clara’s: regular pay overtime pay gross pay net pay Submission Format To help you calculate the amounts to be withheld for Clara, use the attached 2016 Withholding Table (Word.doc).
P Problem 5-3A (Algo) The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees have union dues or garnishments deducted from their pay. Required: Calculate their net pay using the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to determine federal income tax. Assume box 2 is not checked for any employee. Include Colorado income tax of 4.55 percent of taxable pay. No employee has exceeded the maximum FICA limit. (Round your intermediate calculations and final answers to 2 decimal places.) Employee S. Bergstrom C. Pare L. Van der Hooven S. Lightfoot F2 # 3 E JUL 7 80 F3 Filing Status, Dependents MJ-0 MJ-2 ( IM ZA O * 00 8 DII F8 1 ( 9 J K CV BN M F9 O < W F10 L P 4 F11 P
Problem 5-3A (Algo) The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees have union dues or garnishments deducted from their pay. You do not need to complete the number of hours. Required: Calculate their net pay using the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to determine federal income tax. Assume box 2 is not checked for any employee. Include Colorado income tax of 4.40 percent of taxable pay. No employee has exceeded the maximum FICA limit. Note: Round your intermediate calculations and final answers to 2 decimal places. Employee S. Bergstrom C. Pare L. Van der Hooven S. Lightfoot Filing Status, Dependents MJ-0 MJ-2 (<17) S-1 (Other) MJ-0 $ Pay Union Dues per Period 1,750 3,600 $ 3,325 $ $ $ $ 2,950 Garnishment per Period 120 240 $ $ 50 75 100 Net Pay
Required information Skip to question [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay throughAugust 31 Gross Pay forSeptember a. $ 6,400 $ 800 b. 2,000 2,100 c. 122,100 8,000 Assuming situation (a), prepare the employer’s September 30 journal entries to record salary expense and its related payroll liabilities for this employee. The employee’s federal income taxes withheld by the employer are $80 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be Withheld From Gross Pay General Journal The employee’s federal income taxes withheld by the employer are $80 for…