The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The filing status is shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, 20--, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and the wage-bracket method is used for federal income taxes. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. If an amount is zero, enter "0". As we go to press, the federal income tax rates for 2021 are b
The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The filing status is shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, 20--, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and the wage-bracket method is used for federal income taxes.
Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. If an amount is zero, enter "0".
As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used.
Example 4-3
To use the wage-bracket method for Manual Payroll Systems With Forms W-4 From 2020 or Later using Standard Withholding, follow the steps illustrated below.
Step 1 | ||
Select the withholding table that applies to the employee's pay period. | ➡ | Adrienne Huff is married filing jointly (MFJ). She is paid weekly at a rate of $815. |
Step 2 | ||
Locate the wage bracket (the first two columns of the table) in which the employee's gross wages fall. | ➡ | Locate the appropriate wage bracket (see Figure 4.7): |
At least $810 but less than $820 | ||
Step 3 | ||
Follow the line for the wage bracket across to the right to the column showing the appropriate filing status with standard withholding. Withhold this amount of tax. | ➡ | Move across the line to the column showing Married Filing Jointly, Standard withholding. |
The tax to withhold is $34. |
![PAYROLL REGISTER
FOR WEEK ENDING
Jaпuary 19
20 --
Regular Earnings
Overtime Earnings
Deductions
Net Paid
Total
Total
Fed.
State
No.
Name
Hours
OASDI
Check
Rate
Amount Hrs.
Rate Amount Earnings
HI Tax Income Income
Amount
Worked Hrs.
Тax
No
Тах
Таx
1 403 Springs, Carl A.
2 409 Wiegand, Sue T.
3 412 O'Neill, John B.
40
40
10.75
430.00
430.00
26.66
6.24
20.00
15.00
504
362.10
42
40
10.50
420.00
2
15.75 31.50
451.50
27.99
6.55
0.00
13.00
505
403.96
38
38
11.10
421.80
421.80
26.15
6.12
0.00
13.00
506
376.53
16.20 64.80
4 413 Bass, Marie S.
5 418 Crowson, Cheryl
44
40
10.80
432.00
4
496.80
30.80
7.20
27.00
20.00
507
411.80
40
40
S
990,38
990.38
61.40
14.36
87.00
46.00
508
781.62
47
Totals
9,895.75
917.20 10,812.95 670.40 156.79 2,008.00 542.00
7,435.76](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa6514224-27d1-4c3e-9bc7-e4729811b04e%2F5a26e450-5947-49e0-9066-3dc4aee3e81e%2Fewzbs6c_processed.png&w=3840&q=75)
![Hogan Thrift Shop
Payroll Register
FOR PERIOD ENDING December 20, 20--
Deductions
(a) FICA
Filing No. of W/H
Total
(b)
(c)
(d)
(e)
Employee Name Status Allowances Earnings
OASDI
HI
FIT
SIT
CIT
Net Pay
John, Matthew
MFJ
N/A
$2,720.00
Smith, Jennifer
HH
N/A
275.00
Bullen, Catherine
N/A
250.00
Matthews, Mary
MFJ
N/A
320.25
Hadt, Bonnie
HH
N/A
450.00
Camp, Sean
MFJ
N/A
560.50
Wilson, Helen
HH
N/A
475.50
Gleason, Josie
HH
N/A
890.00
Totals
$5,941.25
Compute the employer's FICA taxes for the pay period ending December 20, 20--.
OASDI Taxes
HI Taxes
OASDI taxable earnings
HI taxable earnings
OASDI taxes
HI taxes](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa6514224-27d1-4c3e-9bc7-e4729811b04e%2F5a26e450-5947-49e0-9066-3dc4aee3e81e%2F6r1qsn_processed.png&w=3840&q=75)
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