Use the percentage method to computer the federal income tax withheld for the following employees: Name Marital Status Salary Akers, M. Head of Household $1,575 weekly Bostic, A. Single $990 biweekly Carter, E. Single $550 weekly Dotson, G. Married Jointly $1,090 semimonthly Evans, R. Married Separate $3,120 monthly

Use the percentage method to computer the federal income tax withheld for the following employees: Name Marital Status Salary Akers, M. Head of Household $1,575 weekly Bostic, A. Single $990 biweekly Carter, E. Single $550 weekly Dotson, G. Married Jointly $1,090 semimonthly Evans, R. Married Separate $3,120 monthly

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter12: Preparing Payroll Records

Section: Chapter Questions

Problem 2AP

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JOURNAL ENTRIES FOR PAYMENT OF EMPLOYER PAYROLL TAXES Francis Baker owns a business called Baker Construction Co. She does her banking at the American National Bank in Seattle, Washington. The amounts in her general ledger for payroll taxes and employees withholding of Social Security, Medicare, and federal income tax payable as of July 15 of the current year are as follows: Journalize the quarterly payment of the employee federal income taxes and Social Security and Medicare taxes on July 15, 20--, and the payments of the FUTA and state unemployment taxes on July 31, 20--.
JOURNAL ENTRIES FOR PAYMENT OF EMPLOYER PAYROLL TAXES Angel Ruiz owns a business called Ruiz Construction Co. He does his banking at Citizens National Bank in Portland, Oregon. The amounts in his general ledger for payroll taxes and the employees withholding of Social Security, Medicare, and federal income tax payable as of April 15 of the current year are as follows: Journalize the quarterly payment of the employee federal income taxes and Social Security and Medicare taxes on April 15, 20--, and the payments of the FUTA and SUTA taxes on April 30, 20--.
Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". If required, round your calculations and final answers to the nearest cent. EmployeeNo. Employee Name Marital Status No. of WithholdingAllowances Gross Wageor Salary Amountto BeWithheld 1 Amoroso, A. M 4 $1,610 weekly $fill in the blank 1 2 Finley, R. S 0 825 biweekly fill in the blank 2 3 Gluck, E. S 5 9,630 quarterly fill in the blank 3 4 Quinn, S. M 8 925 semimonthly fill in the blank 4 5 Treave, Y. M 3 2,875 monthly
Q) Find the federal withholding tax using the wage bracket method for each of the following employees. Kerry Cook: 1 withholding allowance, single, $2165.17 monthly earnings Mary Jackson: 2 withholding allowances, married, $639.80 weekly earnings Julie Pendleton: 0 withholding allowances, single, $1843.19 monthly earnings L. Sanchez: 3 withholding allowances, married, $521.10 weekly earnings B. Maynard: 4 withholding allowance, married, $2484.97 monthly earnings
Use the percentage method to compute the federal income tax to be withheld from each employee. Name Marital Status Gross Wages Anderson, J. Banks, M. Married Jointly Married Jointly $1,500 Weekly $750 Bi-Weekly Carter, D. Single Davis, L. Married Separate Harris, K. Single Justice, M. Single $3,500 Monthly $800 Semi-Monthly $1,000 Weekly $500 Weekly
Calculate federal income tax withholding for the employee according to the table images sent. Juan (single; two federal withholdong allowances) earned weekly gross pay of $445.
Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Amount to Be Withheld Percentage Method Employee Ruiz, S. Flume, X. Farley, H. Comey, P. Hanks, R.. Marital Status SSMMM No. of Withholding Allowances 2 1 6 Gross Wage or Salary $1,040 weekly 2,190 weekly 1,890 biweekly 2,315 semimonthly. 3,200 monthly Wage-Bracket Method
Solve the problem where the amount of wages (after subtracting withholding allowances) is over $551 but not over $1,767 so the amount of income tax to withhold is $39.70 plus 12% of excess over $551.Use the percentage method of income tax calculation to complete the payroll roster (in $). Employee MaritalStatus WithholdingAllowances Pay Period GrossEarnings Income TaxWithholding White, W. S 0 Semimonthly $1,165 $
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Use the following information and the flow chart from the module to calculate: Adjusted gross income ( AGI) Taxable income Show your work for each calculation to receive full credit. An individual has the following information for the current tax year. Assume they do not itemize and they file as head of household. Income from wages, $80,000 Interest earned on savings, $150 IRA contribution, $5,000 Checking account interest earned, $75 Standard deduction for Head of Household: $20,800 Child and Dependent Care Tax credit, $3,000 Filing status: Head of Household
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