PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN: 9781337619783
Author: BIEG
Publisher: CENGAGE L
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Chapter 4, Problem 6PB
To determine
Calculate the withholdings taxes and the gross amount of the bonus to be made to Employee GF.
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Youngston Company (a Massachusetts employer) wants to give a holiday bonus check of $750 to each employee. Since it wants the check amount to be $750, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to Genna Fredrich if her earnings for the year are $55,920. Besides being subject to social security taxes and federal income tax (supplemental rate), a 5.00% Massachusetts income tax must be withheld on supplemental payments........?
Compute the gross bonus amount and various amounts deducted to arrive at the net bonus check of $750.
Present your computation vertically in a single column.
Show supporting computations.
Youngston Company (a massachusetts employer) wants to give a holiday bonus check of $750 to each
employee. Since it wants the check amount to be $750, it will need to gross-up the amount of the bonus.
Calculate the withhholding taxes and the gross amount of the bonus to be made to Genna Fredrich if her
earnings for the year are $55,920. Besides being subject to social security taxes and federal income tax
(supplemental rate),a 5.1% Massachusetts income tax must be withheld on supplemental payments.
(a)__
(b)_
(c).
Damerly Company (a Utah employer) wants to give a holiday bonus check of $125 to each employee. Since it wants the check amount to be $125, it will need to
gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year
are $46,910. Besides being subject to social security taxes and federal income tax (supplemental rate), a 4.95% Utah income tax must be withheld on supplemental
payments.
Enter deductions beginning with a minus sign (-). You may need to adjust by a penny (subtract or add) to the gross amount to get net pay to
calculate exactly to $125.00. Round your calculations and final answers to the nearest cent.
As we go to press, the federal income tax rates for 2024 are being determined by budget talks in Washington, and are not available for publication.
For this edition, the 2023 federal income tax tables for Manual Systems with Forms W-4 From 2020 or Later with Standard…
Chapter 4 Solutions
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Ch. 4 - Prob. 1SSQCh. 4 - Prob. 2SSQCh. 4 - Prob. 3SSQCh. 4 - Prob. 4SSQCh. 4 - Prob. 5SSQCh. 4 - Prob. 6SSQCh. 4 - Prob. 1MQCh. 4 - Prob. 1QRCh. 4 - Prob. 2QRCh. 4 - Prob. 3QR
Ch. 4 - What is the maximum contribution that an employer...Ch. 4 - Prob. 5QRCh. 4 - Prob. 6QRCh. 4 - Prob. 7QRCh. 4 - Prob. 8QRCh. 4 - Prob. 9QRCh. 4 - Prob. 10QRCh. 4 - Prob. 11QRCh. 4 - Prob. 12QRCh. 4 - Prob. 13QRCh. 4 - Trowbridge Company has just completed the...Ch. 4 - Prob. 15QRCh. 4 - Prob. 16QRCh. 4 - Prob. 17QRCh. 4 - Prob. 18QRCh. 4 - Prob. 19QRCh. 4 - Prob. 20QRCh. 4 - Prob. 1QDCh. 4 - Prob. 2QDCh. 4 - Prob. 3QDCh. 4 - Prob. 4QDCh. 4 - Prob. 5QDCh. 4 - Justin Holmes, an ex-employee, is entitled to a...Ch. 4 - Prob. 1PACh. 4 - Prob. 2PACh. 4 - Prob. 3PACh. 4 - Prob. 4PACh. 4 - Prob. 5PACh. 4 - Prob. 6PACh. 4 - Prob. 7PACh. 4 - Prob. 8PACh. 4 - Prob. 9PACh. 4 - Mattola Company is giving each of its employees a...Ch. 4 - Prob. 11PACh. 4 - Prob. 12PACh. 4 - Prob. 13PACh. 4 - Prob. 1PBCh. 4 - Prob. 2PBCh. 4 - Prob. 3PBCh. 4 - Prob. 4PBCh. 4 - Prob. 5PBCh. 4 - Prob. 6PBCh. 4 - Prob. 7PBCh. 4 - Prob. 8PBCh. 4 - Prob. 9PBCh. 4 - Harrington Company is giving each of its employees...Ch. 4 - Prob. 11PBCh. 4 - During the fourth quarter of 2019, there were...Ch. 4 - Prob. 13PBCh. 4 - Prob. 1CPCh. 4 - Prob. 2CP
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