Eaton Enterprises uses the wage-bracket method to determine federal income tax withholding on its employees. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Find the amount to withhold from the wages paid each employee. Enter all amounts as positive numbers. If an amount is zero, enter "0". Round interim calculations to two decimals and use in subsequent computations. Round final answer to two decimal places. As we go to press, the federal income tax rates for 2022 are being determined by budget talks in Washington and not available for publication. For this edition, the 2021 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used. Click here to access the Wage-Bracket Method Tables. Employee Filing Status No. of Withholding Allowances Payroll Period W = Weekly S = Semimonthly M = Monthly D = Daily Wage Amount to Be Withheld Tarra James HH N/A W $1,350 $fill in the blank 2 Mike Cramden MFJ N/A W 590 fill in the blank 3 Jim Jones HH N/A W 675 fill in the blank 4 Joan Kern HH N/A M 3,100 fill in the blank 5 Mary Long HH N/A M 2,730 fill in the blank 6 Cathy Luis S N/A S 955 fill in the blank 7 Josie Martin MFJ N/A D 108 fill in the blank 8 Terri Singer MFJ N/A S 2,500 fill in the blank 9 Shelby Torres HH N/A M 3,215 fill in the blank 10

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 7E

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Eaton Enterprises uses the wage-bracket method to determine federal income tax withholding on its employees.

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

Find the amount to withhold from the wages paid each employee. Enter all amounts as positive numbers. If an amount is zero, enter "0". Round interim calculations to two decimals and use in subsequent computations. Round final answer to two decimal places.

As we go to press, the federal income tax rates for 2022 are being determined by budget talks in Washington and not available for publication. For this edition, the 2021 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used.

Click here to access the Wage-Bracket Method Tables.

Employee	Filing Status	No. of Withholding Allowances	Payroll Period W = Weekly S = Semimonthly M = Monthly D = Daily	Wage	Amount to Be Withheld
Tarra James	HH	N/A	W	$1,350	$fill in the blank 2
Mike Cramden	MFJ	N/A	W	590	fill in the blank 3
Jim Jones	HH	N/A	W	675	fill in the blank 4
Joan Kern	HH	N/A	M	3,100	fill in the blank 5
Mary Long	HH	N/A	M	2,730	fill in the blank 6
Cathy Luis	S	N/A	S	955	fill in the blank 7
Josie Martin	MFJ	N/A	D	108	fill in the blank 8
Terri Singer	MFJ	N/A	S	2,500	fill in the blank 9
Shelby Torres	HH	N/A	M	3,215	fill in the blank 10

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