Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: Complete the W-4 multi-jobs worksheet (when applicable) Section 2(b), for all employees, each will use the standard deduction, and calculate the federal income tax withholding using the wage-bracket tables in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.) Employee Filling Status Dependents Annual Salary Spouse Annual Salary or Pay Frequency Federal Income Tax per period Torabi S None $39,500 Not Applicable Benintati S One Other $48,500 Not Applicable Fisher MJ Three<17 $45,300 $75,600/biweekly Tillman MJ Two<17 $42000 $27,500/biweekly
Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: Complete the W-4 multi-jobs worksheet (when applicable) Section 2(b), for all employees, each will use the standard deduction, and calculate the federal income tax withholding using the wage-bracket tables in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.) Employee Filling Status Dependents Annual Salary Spouse Annual Salary or Pay Frequency Federal Income Tax per period Torabi S None $39,500 Not Applicable Benintati S One Other $48,500 Not Applicable Fisher MJ Three<17 $45,300 $75,600/biweekly Tillman MJ Two<17 $42000 $27,500/biweekly
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman.
Required:
Complete the W-4 multi-jobs worksheet (when applicable) Section 2(b), for all employees, each will use the standard deduction, and calculate the federal income tax withholding using the wage-bracket tables in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.)
| Employee | Filling Status | Dependents | Annual Salary | Spouse Annual Salary or Pay Frequency | Federal Income Tax per period |
| Torabi | S | None | $39,500 | Not Applicable | |
| Benintati | S | One Other | $48,500 | Not Applicable | |
| Fisher | MJ | Three<17 | $45,300 | $75,600/biweekly | |
| Tillman | MJ | Two<17 | $42000 | $27,500/biweekly |
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