Don Beldon earns $7.50/hour, and worked 43 hours during the most recent week. He participates in a cafeteria plan, to which he pays $100 each period. Don Beldon is single, and claims three federal and two state withholding allowances. What is the Federal Withholding amount and What is the State Withholding amount? ### 2020 Percentage Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later#### STANDARD Withholding Rate Schedules*(Use these if the box in Step 2 of Form W-4 is **NOT** checked)*#### WEEKLY Payroll Period| Adjusted Wage Amount (line 1h) | Tentative Amount to Withhold | Plus This Percentage | Amount Exceeds ||-------------------------------|------------------------------|---------------------|----------------|| **Married Filing Jointly** | | | || At Least | But Less Than | | | || $0 | $477 | $0.00 | 0% | $0 || $477 | $857 | $0.00 | 10% | $477 || $857 | $2,020 | $38.00 | 12% | $857 || $2,020 | $3,756 | $177.56 | 22% | $2,020 || $3,756 | $6,758 | $561.68 | 24% | $3,756 || $6,758 | $8,452 | $1,367.76 | 32% | $6,758 || $8,452 | $12,439 | $1,921.84 | 35% | $8,452 || $12,439 | - | $3,217.29 | 37% | $12,439 || Adjusted Wage Amount (line 1h) | Tentative Amount to Withhold | Plus This Percentage | Amount Exceeds ||-------------------------------|------------------------------|---------------------|----------------|| **Single or Married Filing Separately** | | | || At Least | But Less Than | | | || $0 | $238 | $0.00 | 0% | $0 || $238 | $428 | $0.00 | 10% | $238 || $428 | $1,010 | $19.00 | 12% | $428 || $1,010 | $1,883 | $83.84 | 22% | $1,010 || $1,883 | $3,379 | $280.90 | 24% | $1,883 || $3,379 | $4,226 | $

The tax withholding is recognized into types of withholding by the employer : Federal…

Don Beldon earns $7.50/hour, and worked 43 hours during the most recent week. He participates in a cafeteria plan, to which he pays $100 each period. Don Beldon is single, and claims three federal and two state withholding allowances. What is the Federal Withholding amount and What is the State Withholding amount?

Don Beldon earns $7.50/hour, and worked 43 hours during the most recent week. He participates in a cafeteria plan, to which he pays $100 each period. Don Beldon is single, and claims three federal and two state withholding allowances. What is the Federal Withholding amount and What is the State Withholding amount?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 74APSA: Payroll Accounting Jet Enterprises has the following data available for its April 30, 2019, payroll:...

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Exhibit 4-1: Use the tables on the following pages to calculate the answers to the problems listed. Assume Forms W-4 from 2020 or Later using Standard Withholding. 2022 Wage Bracket Method Tables for Manual Payroll Systems with Forms W-4 From 2020 or Later BIWEEKLY Payroll Period If the Adjusted Wage Amount (line 1h) is At least $390 $400 $410 $420 $430 $440 $450 $465 $480 $495 $510 $525 $540 $555 $570 $585 $600 $615 $630 $645 $660 $675 $690 $705 $720 $735 $750 $765 $780 $795 $810 $825 $840 $855 $870 $885 $900 $915 $930 $945 $1,005 $1,020 $1,035 $1,050 $1,070 $1,090 $1,110 But less than $1,130 $1,150 $1,170 $1,190 $400 $410 $420 $430 $440 $450 $465 $480 $495 $510 $525 $540 $555 $570 $585 $600 $615 $630 $645 $660 $675 $690 $705 $720 $735 $750 $765 $780 $795 $810 $825 $840 $855 $870 $885 $900 $915 $960 $975 $990 $1,005 $930 $945 $960 $975 $990 $1,020 $1,035 $1,050 $1,070 $1,090 $1,110 $1,130 $1,150 $1,170 $1,190 $1,210 $1,210 $1,230 Married Filing Jointly Standard withholding…
I need help getting the answer to question #2!!
Exhibit 4-1: Use the tables on the following pages to calculate the answers to the problems listed. Assume Forms W-4 from 2020 or Later using Standard Withholding. 2022 Wage Bracket Method Tables for Manual Payroll Systems with Forms W-4 From 2020 or Later BIWEEKLY Payroll Period If the Adjusted Wage Amount (line 1h) is At least $390 $400 $410 $420 $430 $440 $450 $465 $480 $495 $510 $525 $540 $555 $570 $585 $600 $615 $630 $645 $660 $675 $690 $705 $720 $735 $750 $765 $780 $795 $810 $825 $840 $855 $870 $885 $900 $915 $930 $945 $960 $975 $990 $1,005 $1,020 $1,035 $1,050 But less than $400 $410 $420 $430 $440 $450 $465 $480 $495 $510 $525 $540 $555 $570 $585 $600 $615 $630 $645 $660 $675 $690 $705 $720 $735 $750 $765 $780 $795 $810 $825 $840 $855 $870 $885 $900 $915 $930 $945 $960 $975 $990 $1,005 $1,020 $1,035 $1,050 $1,070 $1,090 $1,070 $1,090 $1,110 $1,130 $1,110 $1,130 $1,150 $1,150 $1,170 $1,190 $1,210 $1,170 $1,190 $1,210 $1,230 Married Filing Jointly Standard withholding…
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C and D are being marked incorrect.
M15.
Wages Hours Gross Cumulative Social Employees Expense Regular Overtime Pay Earnings Unemployment Security Medicare B. Borke 40 480 0 480 12,192 0 480 480 E. Clarke 40 480 180 660 13,348 660 660 Totals $960 $180 $1,140 $25.540 $0 $1,140 $1,140 (a) What journal entry would be made to record the employer's payroll taxes on this hypothetical payroll? (Round answers to 2 decimal places, eg. 15.25. Credit account titles are automatically indented when amount is centered. Do not indent manually.) Account Titles and Explanation (To record employer's payroll taxes on the payroll) List of Accounts Debit Credit
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Instructions According to a summary of the payroll of Mountain Streaming Co., $770,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $42,000 was subject to state and federal unemployment taxes. Required: A. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%. B. Journalize the entry to record the accrual of payroll taxes. Refer to the Chart of Accounts for exact wording of account titles.
View Policies Current Attempt in Progress Assume the following data for Sandhill Home Appliance Repair for the payroll quarter ended March 31 . . . . Gross earnings Employee FICA taxes Federal income tax State income tax Number of employees this quarter: Date Account Titles and Explanation Apr. 15 $294,000.00 Sandhill is subject to the following rates: FICA 7.65% (the 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages), state unemployment 5.4% up to $7,000, and federal unemployment 0.6% up to $7,000. No employee reached the limit for FICA taxes, and all employees reached the limit for unemployment taxes in the first quarter. List of Accounts 22.491.00 58,800.00 Prepare the journal entry to record payment of employer taxes, assuming all taxes were paid on April 15. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Save for…