Problem 5-6A (Algo)Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and ischecked for G. Fisher and J. Tillman.Required:On Form W-4, complete Step 2, the Multiple Jobs Worksheet (when applicable) to obtain the amount for Step 4(c). Calculate the federincome tax withholding using the wage-bracket tables with Forms W-4 from 2020 or later in Appendix C.Note: Round your intermediate calculations and final answers to 2 decimal places.EmployeeL. TorabiFiling Status DependentsAnnual SalarySpouse Annual Salaryand Pay FrequencyFederal IncomeTax per PeriodSNone$46,100Not applicableR. BeninatiSOne Other$55,100Not applicableG. FisherMJThree <17$52,000$80,000 per biweekly292.31J. TillmanMJTwo <17$36,350$21,810 per weekly

The objective of this question is to calculate the federal income tax withholding for each employee…

Answered: Problem 5-6A (Algo) Moravanti Italian…

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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Subject:accounting
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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.) Federal Spouse Annual Salary or Pay Frequency Employee Filing Status Dependents Annual Salary Income Tax per Period L. Torabi None $ 41,400 Not applicable R. Beninati S One Other 2$ 50,900 Not applicable G. Fisher MJ Three <17 $ 46,560 S77600/ biweekly J. Tillman MJ Two <17 $ 42,580 $30800/ weekly
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1
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