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The following employees of CIBA Ironworks in Bristol, Illinois, are paid in different frequencies. Some employees have union dues or garnishments deducted from their pay. Use Figure 5.4. Required: Calculate their net pay using the Wage Bracket Method when possible, and the Percentage Method when the amount earned exceeds the Wage Bracket Tables for Income Tax Withholding in Appendix C, and including Illinois income tax of 4.95 percent of taxable pay. No employee has exceeded the maximum FICA limits. You do not need to complete the number of hours. (Round your intermediate calculations and final answers to 2 decimal places.) Employee C. Whaley F. Paguaga K. Harvey L. Bolling Frequency Weekly Semi-monthly Monthly Biweekly Marital Status/ Withholdings M, 2 M, 6 S, 3 M, 0 $ $ $ $ Pay Union Dues per Period 850 2,800 $ 8,000 $ 2,500 120 240 Garnishment per Period $ 50 $ $ 75 100 Net Pay

The following employees of CIBA Ironworks in Bristol, Illinois, are paid in different frequencies. Some employees have union dues or garnishments deducted from their pay. Use Figure 5.4. Required: Calculate their net pay using the Wage Bracket Method when possible, and the Percentage Method when the amount earned exceeds the Wage Bracket Tables for Income Tax Withholding in Appendix C, and including Illinois income tax of 4.95 percent of taxable pay. No employee has exceeded the maximum FICA limits. You do not need to complete the number of hours. (Round your intermediate calculations and final answers to 2 decimal places.) Employee C. Whaley F. Paguaga K. Harvey L. Bolling Frequency Weekly Semi-monthly Monthly Biweekly Marital Status/ Withholdings M, 2 M, 6 S, 3 M, 0 $ $ $ $ Pay Union Dues per Period 850 2,800 $ 8,000 $ 2,500 120 240 Garnishment per Period $ 50 $ $ 75 100 Net Pay

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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The following employees of CIBA Ironworks in Bristol, Illinois, are paid in different frequencies. Some employees have union dues or garnishments deducted from their pay. Use Figure 5.4. Required: Calculate their net pay using the Wage Bracket Method when possible, and the Percentage Method when the amount earned exceeds the Wage Bracket Tables for Income Tax Withholding in Appendix C, and including Illinois income tax of 4.95 percent of taxable pay. No employee has exceeded the maximum FICA limits. You do not need to complete the number of hours. (Round your intermediate calculations and final answers to 2 decimal places.) Employee C. Whaley F. Paguaga K. Harvey L. Bolling Frequency Weekly Semi-monthly Monthly Biweekly Marital Status/ Withholdings M, 2 M, 6 S, 3 M, 0 $ $ $ $ Pay Union Dues per Period 850 2,800 $ 8,000 $ 2,500 120 240 Garnishment per Period $ 50 $ $ 75 100 Net Pay
Transcribed Image Text:The following employees of CIBA Ironworks in Bristol, Illinois, are paid in different frequencies. Some employees have union dues or garnishments deducted from their pay. Use Figure 5.4. Required: Calculate their net pay using the Wage Bracket Method when possible, and the Percentage Method when the amount earned exceeds the Wage Bracket Tables for Income Tax Withholding in Appendix C, and including Illinois income tax of 4.95 percent of taxable pay. No employee has exceeded the maximum FICA limits. You do not need to complete the number of hours. (Round your intermediate calculations and final answers to 2 decimal places.) Employee C. Whaley F. Paguaga K. Harvey L. Bolling Frequency Weekly Semi-monthly Monthly Biweekly Marital Status/ Withholdings M, 2 M, 6 S, 3 M, 0 $ $ $ $ Pay Union Dues per Period 850 2,800 $ 8,000 $ 2,500 120 240 Garnishment per Period $ 50 $ $ 75 100 Net Pay
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