Problem 5-9A (Algo) Using the percentage method from Appendix C calculate the federal withholding amounts for the following employees. No information was included in any Step 4 of the W-4, all W-4s were from 2020, no box was checked in Step 2. For Calder, enter $4,000 in Step 3a in the worksheet ($2,000 x 2 dependents). (Round your intermediate calculations and final answers to 2 decimal places.) Employee S. Calder P. Singh B. Nelson Filing Status MJ HH MJ Dependents Three <17 One <17 None Pay Frequency Monthly Biweekly Daily Amount per Pay Period $ 22,550 3,555 514 $ $ Federal Income Tax

Problem 5-9A (Algo) Using the percentage method from Appendix C calculate the federal withholding amounts for the following employees. No information was included in any Step 4 of the W-4, all W-4s were from 2020, no box was checked in Step 2. For Calder, enter $4,000 in Step 3a in the worksheet ($2,000 x 2 dependents). (Round your intermediate calculations and final answers to 2 decimal places.) Employee S. Calder P. Singh B. Nelson Filing Status MJ HH MJ Dependents Three <17 One <17 None Pay Frequency Monthly Biweekly Daily Amount per Pay Period $ 22,550 3,555 514 $ $ Federal Income Tax

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 74BPSB: Payroll Accounting McLaughlin Manufacturing has the following data available for its March 31, 2019,...

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Complete Part 2 of Form 940 based on the following information: (Round your answers to two decimal places, if necessary.) Total payroll for the year $913,590 Payroll to employees in excess of $7,000 $421,930 Employer contributions into employees' 401(k) plans $23,710 Part 2: Determine your FUTA tax before adjustments. If any line does NOT apply, leave it blank. 3 Total payments to all employees 3 fill in the blank 1 4 Payments exempt from FUTA tax 4 fill in the blank 2 Select: 5 Total of payments made to each employee in excess of $7,000 5 fill in the blank 4 6 Subtotal (line 4 + line 5 = line 6) 6 fill in the blank 5 7 Total taxable FUTA wages (line 3 – line 6 = line 7) 7 fill in the blank 6 8 FUTA tax before adjustments (line 7 x .006 = line 8) 8 fill in the blank 7 b. If the employer is located in California, which has a credit reduction of 2.1%, what would be the amount of the credit reduction?$fill in the blank 8 c. Complete Part 5 of…
Using the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C, calculate the federal withholding amounts for the following employees. No box was checked in Step 2, and no additional information was included in Step 4 (Round your intermediate calculations and final answers to 2 decimal places.) Pay Frequency Amount per Pay Period Federal Income Tax Employee Filing Status Dependents L. Abbey Head of Household 2 <17 Semimonthly $ 4,300 G. Narleski Married/Joint None Weekly $ 2,000 T. Leider Single None Monthly 4,200
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he payroll register of Seaside Architecture Company indicates $970 of Social Security and $258 of Medicare tax withheld on total salaries of $17,000 for the period. Federal withholding for the period totaled $3,260. Prepare the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank. V Y Y
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