5. Sam Wilder earns $19.35/hour, and worked 53 hours during the most recent week. She participates in a flexible spending account, to which she contributes $50 each period. Sam Wilder is married, and claims four federal and three state withholding allowances.
5. Sam Wilder earns $19.35/hour, and worked 53 hours during the most recent week. She participates in a flexible spending account, to which she contributes $50 each period. Sam Wilder is married, and claims four federal and three state withholding allowances.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
I need help getting the answer to #5!!
Transcribed Image Text:2020 Percentage Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later
WEEKLY Payroll Perlod
STANDARD Withholding Rate Schedules
(Use these if the box in Step 2 of Form W-4 is NOT checked)
Form W-4, Step 2, Checkbox, Withholding Rate Schedules
(Use these if the box in Step 2 of Form W-4 IS checked)
of the
If the Adjusted Wage
Amount (Ilne 1h) Is:
If the Adjusted Wage
Amount (Ilne 1h) Is:
amount that
the Adjusted
Wage
of the
The
amount that
the Adjusted
Wage
The
tentative
tentative
Plus this
But less
than-
amount to
withhold Is:
But less
amount to
Plus this
percentage- exceeds-
At least-
than-
withhold Is:
At least-
percentage- exceeds-
C
E
B
D
Married Filing Jointly
Married Filing Jointly
$0.00
0%
$238
$428
$0
sO
$0
$477
$0.00
0%
$0
$238
$0.00
10%
$238
$477
$857
$2,020
$3,766
$6,758
$8,452
$12,439
$477
$857
$0.00
10%
$19.00
$1,010
$1,883
$3,379
$4,226
$6,220
$428
12%
$428
$857
$2,020
$3,766
$6,758
$8,452
$12,439
$38.00
12%
$88.84
22%
$1,010
$1,883
$3,379
$4,226
$6,220
$1,010
$1,883
$3,379
$4,226
S6,220
$2,020
$177.56
22%
$280.90
24%
$3,766
$561.68
24%
S639.94
32%
$6,758
$1,279.76
32%
$910.98
35%
$8,452
$1,821.84
35%
$1,608.88
37%
S12,439
$3,217.29
37%
Single or Married Filing Separately
Single or Married Filing Separately
$0.00
$0
$0
$119
$0.00
0%
$0
$0
$238
0%
$214
$0.00
10%
$119
$238
S428
$1,010
$1,883
$3,379
$4,226
$238
$428
$0.00
10%
$119
$428
$19.00
12%
$214
S505
$9.50
12%
$214
$1,010
$1,883
$3,379
$4,226
$10,208
$1,010
$88.84
22%
$505
$942
$44.42
22%
$505
$1,689
$2,113
$5,104
24%
$942
$140.56
24%
$942
$1,883
$3,379
$4,226
$10,208
$280.90
32%
$1,689
$2,113
$5,104
$319.84
$1,689
$2,113
$639.94
32%
$910.98
35%
$455.52
35%
$3,004.68
37%
$10,208
$1,502.37
37%
$5,104
Head of Household
Head of Household
$359
$0.00
0%
$0
$0
$179
$0.00
0%
$0
$359
$630
$1,391
$2,003
$3,499
$4,346
$359
$630
$0.00
10%
$179
$315
$0.00
10%
$179
$630
$315
$696
$13.60
$1,391
$2,003
$3,499
$4,346
$10,328
$27.10
12%
12%
$315
$1,001
$1,750
$696
$59.32
$1,391
$2,003
$3,499
$4,346
$10,328
$118.42
22%
22%
$696
$1,001
$1,750
$2,173
$5,164
$253.06
24%
$126.42
24%
$1,001
$2,173
$5,164
$612.10
32%
$306.18
32%
$1,750
$2,173
$883,14
35%
$441.54
35%
$2,976.84
37%
$10,328
$1,488.39
37%
$5,164
Transcribed Image Text:Complete the FWT (wage-bracket method) and SWT columns of the payroll register using the employee data listed below. The associated pay period ends on 08/07/2020, with paychecks being
printed and distributed six days later. Every employee earns hourly overtime wages 1.5 times greater than their regular wage rate. Enter all employees' names in the format Last Name, First
Initial (for example: Rick Smith would be written as Smith, R). The state income tax withholding rate is 5.0% of taxable pay, with taxable pay being the same for federal and state income tax
withholding. Note that the Voluntary Withholding column, for which partial information is provided below, has been populated based on the partial information shown here.
5. Sam Wilder earns $19.35/hour, and worked 53 hours during the most recent week. She participates in a flexible spending account, to which she contributes $50 each period, Sam Wilder is
married, and claims four federal and three state withholding allowances.
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!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
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.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education