For 2019 Amount to BeWithheldNo. ofMarital WithholdingGross WagePercentageWage-BracketEmployee Status Allowancesor SalaryMethodMethodCorn, A.$49 vS2.$675 weeklyFogge, P.1,960 weeklyMust use percentage method vFelps, S.1,775 biweekly35 VCarson, W.M42,480 semimonthlyHelm, M.M5,380 monthlyMust use percentage method

The percentage method:-This method is used to calculate federal income tax withholding. This method is mainly used for W4 form from 2019 or earlier. It is also helpful in calculating any wages or salary.Calculation of Percentage method:- Above result is:- The above data has been taken from the Percentage withholding table from their respective headings.

Business

Accounting

Amount to Be Withheld No. of Marital Withholding Gross Wage Percentage Wage-Bracket Employee Status Allowances or Salary Method Method Corn, A. 2 $675 weekly 49 v Fogge, P. 1,960 weekly Must use percentage method v 1 Felps, S. 35 v M 6. 1,775 biweekly Carson, W. M 2,480 semimonthly X X Helm, M. M 5,380 monthly Must use percentage method v

Amount to Be Withheld No. of Marital Withholding Gross Wage Percentage Wage-Bracket Employee Status Allowances or Salary Method Method Corn, A. 2 $675 weekly 49 v Fogge, P. 1,960 weekly Must use percentage method v 1 Felps, S. 35 v M 6. 1,775 biweekly Carson, W. M 2,480 semimonthly X X Helm, M. M 5,380 monthly Must use percentage method v

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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