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Federal income tax withholding = $_ Tentative Federal Income Tax Withholding = $

Federal income tax withholding = $_ Tentative Federal Income Tax Withholding = $

FINANCIAL ACCOUNTING
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: Stephanie Wiliams files as single on her tax return and earned weekly gross pay of $720. For each pay period she makes a flexible spending account contribution of 7% of gross pay. Stephanie did not enter any information in steps 2-4 of the form. 720 neebly X7 50.40 Federal income tax withholding = $ 710 50.40 669.60 look # 2: Mo Fangia files as single on his tax return and earned weekly gross pay of $1040. He does not make any retirement plan contributions. Mo entered $30 on line 4c of Form W-4 and did not enter any information in steps 2 & 3 of the form. Federal income tax withholding = $ 3: Michaela Sampson files as married filing jointly on her tax return and earned weekly gross pay of $1580. For each pay period she makes a 401(k) contribution of 4% of gross pay. Michaela checked box 2c on Form W-4, entered $2000 in step 3 of the form, and did not enter any information in step 4 of the form. Federal income tax withholding = $ Tentative Federal Income Tax Withholding = $
Transcribed Image Text:1: Stephanie Wiliams files as single on her tax return and earned weekly gross pay of $720. For each pay period she makes a flexible spending account contribution of 7% of gross pay. Stephanie did not enter any information in steps 2-4 of the form. 720 neebly X7 50.40 Federal income tax withholding = $ 710 50.40 669.60 look # 2: Mo Fangia files as single on his tax return and earned weekly gross pay of $1040. He does not make any retirement plan contributions. Mo entered $30 on line 4c of Form W-4 and did not enter any information in steps 2 & 3 of the form. Federal income tax withholding = $ 3: Michaela Sampson files as married filing jointly on her tax return and earned weekly gross pay of $1580. For each pay period she makes a 401(k) contribution of 4% of gross pay. Michaela checked box 2c on Form W-4, entered $2000 in step 3 of the form, and did not enter any information in step 4 of the form. Federal income tax withholding = $ Tentative Federal Income Tax Withholding = $
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