Compute the net pay for each employee using the federal income tax withnolding table included....

60.1K

Verified Solution

Question

Accounting

image
image
image
image
image
Compute the net pay for each employee using the federal income tax withnolding table included. Assume that FICA OASDI tax is 6.2\% on a wage base imit of $127.200. Med care is 1.45% on SClick the icon to vew the employee informabion) bon to vew the Single Perhons - Biweekly Paynol Period federal income tax witholding table) Compute the net pay for each employee. \begin{tabular}{lcccc} \multicolumn{1}{c}{ Employee } & Status & Allowances & Cumulative Pay & Biweekly Pay \\ \hline Zhu Rui & Single & 2 & $58,500 & $1,680 \\ James Paine & Single & 1 & $60,500 & $1,620 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{14}{|c|}{\begin{tabular}{l} SINGLE Persons-BrWEEKLY Payroll Period \\ (For Wages Paid through December 31, 201X) \end{tabular}} \\ \hline \multicolumn{2}{|c|}{ And the wages are- } & \multicolumn{12}{|c|}{ And the number of witholding allowances claimed is - } \\ \hline \multirow[t]{2}{*}{ Acleast } & \multirow{2}{*}{\begin{tabular}{c} But less \\ than \end{tabular}} & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 & 9 & 10 & \\ \hline & & \multicolumn{12}{|c|}{ The amount of income tax to be withheld is - } \\ \hline$800 & & 590 & 367 & 544 & $25 & 310 & $5 & 50 & 30 & $0 & 30 & 30 & \\ \hline 820 & $40 & 93 & 70 & 47 & 27 & 12 & 0 & 0 & 0 & 0 & 0 & & 0 \\ \hline 840 & 860 & 96 & 73 & so & 29 & 14 & 0 & 0 & 0 & 0 & 0 & & 0 \\ \hline 860 & & 39 & 76 & 53 & 31 & 16 & 0 & 0 & 0 & 0 & 0 & & 0 \\ \hline 800 & 900 & 102 & 79 & 56 & 33 & 18 & 2 & : & 0 & & & & \\ \hline 900 & 920 & 105 & 82 & 59 & 35 & 20 & 4 & 0 & 0 & 0 & & i & 0 \\ \hline 920 & 940 & 108 & 85 & 62 & 38 & 22 & 6 & & 0 & 9 & & & 0 \\ \hline 940 & 960 & 111 & 88 & 65 & +41 & 24 & 3 & 0 & 0 & 9 & 0 & & 0 \\ \hline 960 & \begin{tabular}{r} 980 \\ 1,000 \end{tabular} & 114 & 91 & 68 & \begin{tabular}{l} 44 \\ 47 \end{tabular} & 26 & \begin{tabular}{l} 10 \\ 12 \end{tabular} & ? & : & : & : & & 0 \\ \hline 960 & 1,000 & 117 & 94 & 71 & 47 & 2al & 12 & 0 & & 0 & & & \\ \hline 1,000 & 1.020 & 120 & 97 & 74 & 50 & 30 & 14 & 0 & 0 & 0 & & & 0 \\ \hline 1,020 & 1,040 & 123 & 100 & 77 & 53 & 32 & 16 & 1 & 0 & 0 & & & 0 \\ \hline 1,040 & 1,060 & 126 & 103 & \pm 0 & 56 & 34 & 18 & 3 & 0 & 0 & 0 & & 0 \\ \hline 1,060 & 1,080 & 129 & 106 & 3 & 59 & 36 & 20 & 5 & 0 & 0 & 9 & & 0 \\ \hline 1,0s0 & 1,100 & 132 & 109 & 36 & 62 & 39 & 22 & 7 & 0 & 0 & 0 & & 0 \\ \hline 1,100 & 1,120 & 135 & 112 & a) & 65 & 42 & 24 & 3 & 0 & 0 & 0 & & 0 \\ \hline 1,120 & 1,140 & 134 & 115 & 92 & 80 & 45 & 26 & 11 & 0 & 0 & a & & 0 \\ \hline 1.140 & 1,160 & 141 & 118 & ss & 7 & 4a & 2n & 13 & 0 & ? & 0 & & 0 \\ \hline 1,160 & 1,180 & 145 & 121 & 91 & 7474 & 51 & 30 & is & ? & & ? & & 0 \\ \hline 1,100 & 1,200 & (a) & 124 & 101 & & 54 & 32 & 17 & 1 & 0 & 0 & & 0 \\ \hline 1,200 & 1,220 & 150 & 127 & 104 & to & 57 & 34 & 13 & 53 & 0 & 9 & & 0 \\ \hline 1,220 & 1,240 & 153 & 130 & 107 & 83 & 60 & 36 & 21 & 5 & 0 & 0 & & 0 \\ \hline 1,240 & 1.260 & 156 & 133 & 110 & 86 & 63 & 39 & 23 & ? & 0 & 0 & & 0 \\ \hline 1.260 & 1,280 & 159 & 136 & 113 & 89 & (6) & 421 & is & 9 & 0. & ol & & 0 \\ \hline \end{tabular}

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students