Carter Manning has a weekly adjusted gross income of $996, is single, and claims one withholding allowance. Find the federal tax withholding to be deducted from hisweekly paycheck using the percentage method tables.Click the icon to view the IRS Table for Figuring Withholding Allowance According to the Percentage Method.Click the icon to view the Table for Percentage Method of Withholding - Weekly Payroll Period.The federal tax withholding to be deducted from his salary is $.(Round to the nearest cent as needed.) 2016 IRS Table for Figuring Withholding AllowanceAccording to the Percentage MethodPayroll PeriodOne WithholdingAllowanceWeeklyBiweeklySemimonthlyMonthlyQuarterlySemiannuallyAnnuallyDaily or miscellaneous (each day ofthe payroll period)$43$222$767Table for Percentage Method of WithholdingWEEKLY Payroll Period(For Wages Paid in 2012)Single person (including head of household)If the amount of wages (after The amount of income tax to withholdsubtracting withholdingis:allowances) is:Not over $43Over-$1,796$3,700$7,992$8,025But not over-$77.90155.80168.80337.50SO1,012.502.025.004.050.0015.60$222 $0.00 plus 10%-$767 $17.90 plus 15%-$1,796 $99.65 plus 25%-$3.700 $356.90 plus 28%-$7,992 $890.02 plus 33%-$8,025 $2,306.38 plus 35%$2.317.93 plus 39.6%of excess over--$43-$222$767$1,796$3,700$7.992-$8.025

Federal Tax withholding: It is the amount which is withheld from the wages of the employees which is…

Answered: weekly paycheck using the percentage…

weekly paycheck using the percentage method tables. Click the icon to view the IRS Table for Figuring Withholding Allowance Click the icon to view the Table for Percentage Method of Withholding

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter4: Income Tax Withholding

Section: Chapter Questions

Problem 3SSQ

See similar textbooks

Related questions

Q: 6. China Airlines Inc., a resident foreign corporation, has the following data for the taxable year…

A: According to the given question, we are required to compute the income tax payable. According to…

Q: After receiving the two million pesos as graduation gift, you decided to invest the whole two…

Q: Zoey Bella Corp. has a payroll of $7,960 for a five-day workweek. Its employees are paid each Friday…

A: INTRODUCTION: The accounting equation depicts the connection between assets, liabilities, and…

Q: question 1 (1a)An increase in the provision for doubtful debts will: A increase the net…

A: Hi student Since there are multiple questions, we will answer only first question. Provision for…

Q: The following annual account balances are from Armour Sports at December 31. Year 1 $ 34,850 362,239…

A: INTRODUCTION: Net sales are a company's revenue after all deductions have been made. When analyzing…

Q: Lara Sdn. Bhd. has a variable cost ratio of 0.56. The fixed cost is RM103,840 and 23,600 units are…

A: Formula break even point = fixed cost / contribution margin per unit Contribution margin per…

Q: You have $500,000.00 saved for retirement. Your account earns 5% interest compounded monthly. How…

A: INTRODUCTION; Compound interest (or composite) is the interest on a loan or deposit computed using…

Q: Jasin Company projected operating income (based on sales of 450,000 units) for the coming year as…

A: 1) Calculation of Variable cost per unit :- Variable cost per unit = Total variable cost / out put…

Q: Tom and Rachel are married and living together in California. Their income is as follows: Tom's…

A: In all of the community property states , income from interest shall be considered one half of by…

Q: On January 1, ABC Company has 100,000 outstanding ordinary shares. During the year, ABC reported net…

A: Diluted Earning Per Share: The calculation known as diluted earnings per share (diluted EPS)…

Q: 8 Capital (Drawings 00 Trade Receivables and Trade Payables Sales Revenue Cost of sales Wages…

A: A statement of financial performance is a statement that reflects all the income, revenue, and…

Q: PT. DEF has Accounts Receivable from PT. HIJ amounted Rp 2.500.000. However, this Accounts…

A: Under the direct write off method, accounts receivable are written off with recording the allowance…

Q: 38 Use the following data to compute total factory overhead costs for the month: Sales commissions…

A: Solution:- Amount ($) Indirect Material 16,500 Factory Utilities 10,300 Indirect Labor…

Q: Birtle Corporation reports the following statement of financial position information for 2017 and…

A: Source or use of cash - Source or uses of cash means the increase or decrease in Assets or…

Q: Cash Budget The controller of Mercury Shoes Inc. instructs you to prepare a monthly cash budget for…

A: Cash budget was an budgets used by the company to plan for its expected payments and receipts of…

Q: REQUIRED (a) (b) Prepare the statement of financial performance for the year ended 30 November 2019.…

A: Statement of financial performance shows net profit or loss made during the particular period. This…

Q: $6,000

Q: Forrester Company is considering buying new equipment that would increase monthly fixed costs from…

A: Contribution margin = Sales price (-) variable cost Contribution margin ratio = Contribution…

Q: Given Investment A: 3.91% compounded semiannually and Investment B: 3.79% compounded quarterly…

A: The question requires us to choose a better investment option among the 2 investments given. For…

Q: Minstrel Manufacturing uses a job order costing system. During the month, Minstrel purchased…

A: Total manufacturing costs comprises of direct material, direct labour and manufacturing overheads.…

Q: Information on a note receivable: Face amount P800,000 Effective Interest 14% PV of P1 @14%, n= 5…

A: Lets understand the basics. When note is issued and its payable over installements then it needs to…

Q: PT. Manukdadali has $100 maximum in Petty Cash. On June 27, 2022 the Petty Cash of PT. Manukdadali…

A: Cash spend is $92

Q: Carla Vista Co. receives a $60,400, 6-year note bearing interest of 7% (paid annually) from a…

A: We shall calculate the present value of Note by discounting all cash flows during the 6 year period.…

Q: When preparing the Statement of Cash Flow using the indirect method for the current year, which of…

A: Cash Flow Statement: A cash flow statement is a kind of financial statement that offers aggregate…

Q: Analyze the following: I – When a component of an entity was discontinued during the current year,…

A: Any loss on discontinued operation would be accounted in a single entry separately in the financial…

Q: Given that selling, distribution and administrative costs for the quarter were $22,960 and $74,240…

A: Perpetual Inventory System – Under the Perpetual inventory system on every sales transaction cost of…

Q: During its most recent fiscal year, Dover, Incorporated had total sales of $3,200,000. Contribution…

A: Contribution margin: The difference between the sales and the variable costs is called contribution…

Q: "Market" is defined in the "Lower-of-cost-or-market" rule required to account for FIFO inventory as:…

A: Inventory- Inventory describes the things that a business keeps on hand in order to make money. Both…

Q: Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings…

A: Introduction: Balance sheet: All assets and liabilities of the company are shown in Balance sheet.…

Q: 7 Supplies had a beginning balance of $4.500. During the period, $15.00 of Supplies were purchased.…

A: Adjusting entry refers to the entry which is recorded in the general ledger which should be…

Q: A company bought a machine for P19,500.00. It has an estimated useful life of 20 years, after which…

A: The depreciation expense is charged on fixed assets as reduction in the value of fixed assets with…

Q: Which of the following would not be considered internal users of accounting data for a company? a.…

A: The company produces accounting data in the form of financial reports and related disclosures. There…

Q: Q2 Lautaro & Lukaku's provided the following accounting information for 2021: Jan. 1, 2021 Dec 31,…

A: Cost of goods sold = Opening finished goods + Cost of goods manufactured in the current period -…

Q: Current information for the Healey Company follows: Beginning raw materials inventory Raw material…

A: Cost of goods manufactured includes the total cost of goods that are finished during the period.…

Q: two (2) reasons why ROI, RI and EVA may be inappropriate measures of performance.

A: ROI ( Return on Investment)- This measure is used to measure the return on any investment. This is a…

Q: 7:47 Adjusting Entry Exerc... Name: Principles of Accounting I Chapter3 - Adjusting Entries ACC101…

A: 2) prepaid rent for 3 month is $3000 . One month rent is $1000. 3) supplies used during the period…

Q: XYZ Inc issued 445 convertible bonds - each at a price of 101.95% of the $1,000 face value. At…

A: A bond may be regarded of as an I.O.U. between the debtor and creditor including the loan…

Q: Current assets: Cash $655,500 Marketable securities 759,000 Accounts and notes receivable (net)…

A: Lets understand the basics. Working capital is a capital required to run a day to day business.…

Q: Analyze the following: I – All entities that issue an annual report may issue interim financial…

A: An entity prepares financial statement at the year-end which shows many components in summaries or…

Q: Gavin invested $42,000 in the Jason and Kelly Partnership for ownership equity of $42,000. Prior to…

A: Admission of New Partner: In the absence of any other agreement, the only way for the business to…

Q: Units Beginning inventory Purchase (April 3) Sale (April 10) Purchase (April 18) Purchase (April 23)…

A: Under lifo method of inventory units came in last will be sold first. In perpetual method inventory…

Q: NFP Document tement of Financial ition tement of Activities Purpose of the Report Similar to Which…

A: Statement of financial position : It is one of the important financial statement, also known as…

Q: Beginning inventory Purchase (April 3) Sale (April 10) Purchase (April 18) Purchase (April 23) Sale…

A: Ending inventory refers to the inventory value which remains at the end of the fiscal year or…

Q: Analyze the following: I – If a new issue of shares for cash is made between the year-end and the…

A: Lets understand the basics. Earning per share shows how much earning is available per equity share…

Q: following Fixed costs, variable costs, sales, breakeven point value, safety threshold ratio

A: Given in the question: Sales 8500 Raw Materials 2350 Insurance 275 Loan…

Q: arious options are provided as possible answers to the following questions. Choose the answer and…

A: Equity- Share capital and equity finance are other names for equity capital. It is referred to as…

Q: 1ori most beloetx John Trading is in the business of importing footwear for resale. The following…

A: Statement of financial performance is the one that indicates the profitability of an entity.…

Q: Analyze the following: I – Cumulative preference dividends in arrears should be reported as a note…

A: Analysis of Statement 1 :— Cumulative preference dividends in arrears should be reported as a note…

Q: Bradley Company manufactures a single product that sells for $510 per unit and whose variable costs…

A: Break-even point (BEP): Breakeven is the point where total expenses are equal to total revenue. at…

Q: es Given the following: January 1 inventory April 1 June 1 November 1 Number purchased 37 57 47 52…

A: Since the method "first in first out" is followed the closing inventory would include those…

Question

Carter Manning has a weekly adjusted gross income of $996, is single, and claims one withholding allowance. Find the federal tax withholding to be deducted from his
weekly paycheck using the percentage method tables.
Click the icon to view the IRS Table for Figuring Withholding Allowance According to the Percentage Method.
Click the icon to view the Table for Percentage Method of Withholding - Weekly Payroll Period.
The federal tax withholding to be deducted from his salary is $.
(Round to the nearest cent as needed.)

2016 IRS Table for Figuring Withholding Allowance
According to the Percentage Method
Payroll Period
One Withholding
Allowance
Weekly
Biweekly
Semimonthly
Monthly
Quarterly
Semiannually
Annually
Daily or miscellaneous (each day of
the payroll period)
$43
$222
$767
Table for Percentage Method of Withholding
WEEKLY Payroll Period
(For Wages Paid in 2012)
Single person (including head of household)
If the amount of wages (after The amount of income tax to withhold
subtracting withholding
is:
allowances) is:
Not over $43
Over-
$1,796
$3,700
$7,992
$8,025
But not over-
$77.90
155.80
168.80
337.50
SO
1,012.50
2.025.00
4.050.00
15.60
$222 $0.00 plus 10%
-$767 $17.90 plus 15%
-$1,796 $99.65 plus 25%
-$3.700 $356.90 plus 28%
-$7,992 $890.02 plus 33%
-$8,025 $2,306.38 plus 35%
$2.317.93 plus 39.6%
of excess over-
-$43
-$222
$767
$1,796
$3,700
$7.992
-$8.025

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

For tax purposes, assume that the maximum taxable earnings are 118,500 for Social Security and 7,000 for the unemployment tax and that all earnings are taxable for Medicare. For the payroll register for the month of November for Shelby, Inc., determine the taxable earnings for each employee.
Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.
Precision Labs has two employees. The following information was taken from its individual earnings records for the month of September. Determine the missing amounts assuming that the Social Security tax is 6.2 percent, the Medicare tax is 1.45 percent, and the state income tax is 20 percent of the federal income tax. Assume that the employees are married and have one withholding allowance. All earnings are subject to Social Security and Medicare taxes. Round amounts to the nearest penny.
Davis, Inc. paid wages to its employees during the year as follows: a. How much of the total payroll is exempt from the FICA rate of 8%? b. How much of the total payroll is exempt from federal and state unemployment taxes? c. How much of the total payroll is exempt from federal income tax withholding?
In each of the following problems, identify the tax issue(s) posed by the facts presented. Determine the possible tax consequences of each issue that you identify. Ariel has worked for Sander Corporation for 30 years. Sander has a pension plan in which it matches employee contributions by up to 5 percent of the employees salary. Ariel, who is single, retires during the current year when she is 66 years old. Her pension plan contains payments and earnings of 300,000, half of which are attributable to payments made by Ariel and half attributable to payments made by Sander. Under the plan, Ariel is to receive 2,000 per month until she dies.
Khalid Khouri is married, has a gross weekly salary of $689 (all of which is taxable), and claims two withholding allowances. Use the tax tables to find the federal tax withholding to be deducted from his weekly salary. Click the icon to view the Married Persons-Weekly Payroll Period. The withholding tax is $ Portion of IRS Withholding Table for Married Persons Paid Weekly MARRIED Persons-WEEKLY Payroll Period (For Wages Paid Through December 31, 2016) 0 1 And the wages are-And the number of withholding allowances claimed is 5 4 2 3 At least But less than The amount of income tax to be withheld is $4 SO SO $680 $59 $47 $35 $28 $20 $12 5 d q 21 13 690 60 49 37 29 $670 680 Print Done 9 10 $0 $0 0 0 X
Use the percentage method of income tax calculation to complete the payroll roster ( in $). David Grange is married and claims 4 withholding allowances. If he paid biweekly and earns $1,844 per period, use the percentage method to find his income tax withholding each pay period. Round your answer to the nearest cent.
Use the percentage method of income tax calculation to complete the payroll roster (in $). David Grange is married and claims 4 withholding allowances. If he is paid biweekly and earns $1,848 per period, use the percentage method to find his income tax withholding each pay period. (Use Exhibit 9-1 and Exhibit 9-2 from your text. Round your answer to the nearest cent.) $____________
Henry, who earned $124,200 during 2020, is paid on a monthly basis, is married, (spouse does not work) and two dependents who are under the age of 17. Assume that Henry has only one job or that step 2 of Form W-4 is not checked. Also, his employer uses the percentage method table for an automated payroll system. Use percentage method tables for automated systems. Required: What is Henry’s federal tax withholding for each pay period? What is Henry’s FICA withholding for each pay period?
Roberto's salary is $149,865.00 in 2022. Roberto is paid on a semimonthly basis, is unmarried and has one qualifying dependent under the age of 17 per his Form W-4. Use the Percentage Method Tables for Manual Payroll Systems with Forms W-4 from 2020 or Later. Use percentage method tables for a manual payroll systems. Required: a. What is Roberto's federal tax withholding per pay period? b. What is Roberto's FICA withholding per pay period before the social security limit is reached? c. For the last pay period in 2022, what is Roberto's FICA withholding? Note: For all requirements, round your intermediate computations and final answers to 2 decimal places. a. Federal tax withholdings b. FICA withholdings c. FICA withholdings Amount