1: Armand Giroux (single; 0 federal withholding allowances) earned weekly gross pay of $1,445. For each period, he makes a 401(k) retirement plan contribution of 6.5% of gross pay. The city in which he works (he lives elsewhere) levies a tax of 1.15% of an employee's taxable pay (which is the same for federal and local income tax withholding) on residents and 0.75% of an employee's taxable pay on nonresidents. Federal income tax withholding = $ State income tax withholding = $ Local income tax withholding = $ 2: Peter Quigley (married; 8 federal withholding allowances) earned weekly gross pay of $2,420. He contributes $95 to a flexible spending account during the period. The city in which he lives and works levies a tax of 2.6% of an employee's taxable pay (which is the same for federal and local income tax withholding) on residents and 1.8% of an employee's taxable pay on nonresidents. Federal income tax withholding = $ State income tax withholding = $ Local income tax withholding = $ 3: Eric Belanger (married; 4 federal withholding allowances) earned weekly gross pay of $1,275. He does not request that any voluntary deductions be made from his gross pay. The city in which he lives and works levies a tax of 1.5% of an employee's taxable pay (which is the same for federal and local income tax withholding) on both residents and nonresidents. Federal income tax withholding = $ State income tax withholding = $ Local income tax withholding = $ 4: Christopher Martin (single; 4 federal withholding allowances) earned weekly gross pay of $2,725. He pays $70 to a cafeteria plan during the period. The city in which he works levies a tax of $4/week on employees who work within city limits. Federal income tax withholding = $ State income tax withholding = $ Local income tax withholding = $

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1: Armand Giroux (single; 0 federal withholding allowances) earned weekly gross pay of $1,445. For each period, he makes a 401(k) retirement plan contribution of 6.5% of gross pay. The city in which he works (he lives elsewhere) levies a tax of 1.15% of an employee's taxable pay (which is the same for federal and local income tax withholding) on residents and 0.75% of an employee's taxable pay on nonresidents.

Federal income tax withholding = $
State income tax withholding = $
Local income tax withholding = $

2: Peter Quigley (married; 8 federal withholding allowances) earned weekly gross pay of $2,420. He contributes $95 to a flexible spending account during the period. The city in which he lives and works levies a tax of 2.6% of an employee's taxable pay (which is the same for federal and local income tax withholding) on residents and 1.8% of an employee's taxable pay on nonresidents.

Federal income tax withholding = $
State income tax withholding = $
Local income tax withholding = $

3: Eric Belanger (married; 4 federal withholding allowances) earned weekly gross pay of $1,275. He does not request that any voluntary deductions be made from his gross pay. The city in which he lives and works levies a tax of 1.5% of an employee's taxable pay (which is the same for federal and local income tax withholding) on both residents and nonresidents.

Federal income tax withholding = $
State income tax withholding = $
Local income tax withholding = $

4: Christopher Martin (single; 4 federal withholding allowances) earned weekly gross pay of $2,725. He pays $70 to a cafeteria plan during the period. The city in which he works levies a tax of $4/week on employees who work within city limits.

Federal income tax withholding = $
State income tax withholding = $
Local income tax withholding = $

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