Use the appropriate table to determine the amount to withhold for federal income tax from each of the following biweekly wages (biweekly withholding allowance = $159.60): Patrick Patrone (single, 2 allowances), $925 wages $ Carson Leno (married, 4 allowances), $1,195 wages $ Carli Lintz (single, 0 allowances), $700 wages $ Gene Hartz (single, 1 allowance), $2,500 wages $ Mollie Parmer (married, 2 allowances), $3,600 wages $ Wage Bracket Method Tables for Income Tax Withholding SINGLE Persons—BIWEEKLY Payroll Period(For Wages Paid through December 31, 2018) And the wages are– And the number of withholding allowances claimed is— At least But less than 0 1 2 3 4 5 6 7 8 9 10 The amount of income tax to be withheld is— $250260270 $260270280 $111213 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 280290300310320 290300310320330 1415161718 00012 00000 00000 00000 00000 00000 00000 00000 00000 00000 330340350360370 340350360370380 1920212223 34567 00000 00000 00000 00000 00000 00000 00000 00000 00000 380390400410420 390400410420430 2425262728 89101112 00000 00000 00000 00000 00000 00000 00000 00000 00000 430440450460470 440450460470480 2930313233 1314151617 00001 00000 00000 00000 00000 00000 00000 00000 00000 480490500520540 490500520540560 3435373942 1819212325 23579 00000 00000 00000 00000 00000 00000 00000 00000 560580600620640 580600620640660 4446495154 2729313335 1113151719 00013 00000 00000 00000 00000 00000 00000 00000 660680700720740 680700720740760 5658616366 3739424446 2123252729 5791113 00000 00000 00000 00000 00000 00000 00000 760780800820840 780800820840860 6870737578 4951545658 3133353739 1517192123 01357 00000 00000 00000 00000 00000 00000 860880900920 880900920940 80828587 61636668 42444649 25272931 9111315 0000 0000 0000 0000 0000 0000 Source: Internal Revenue Service. Wage Bracket Method Tables for Income Tax Withholding MARRIED Persons—BIWEEKLY Payroll Period(For Wages Paid through December 31, 2018) And the wages are– And the number of withholding allowances claimed is— At least But less than 0 1 2 3 4 5 6 7 8 9 10 The amount of income tax to be withheld is— $495505525545 $505525545565 $67911 $0000 $0000 $0000 $0000 $0000 $0000 $0000 $0000 $0000 $0000 565585605625645 585605625645665 1315171921 00135 00000 00000 00000 00000 00000 00000 00000 00000 00000 665685705725745 685705725745765 2325272931 79111315 00000 00000 00000 00000 00000 00000 00000 00000 00000 765785805825845 785805825845865 3335373941 1719212325 13579 00000 00000 00000 00000 00000 00000 00000 00000 865885905925945 885905925945965 4345474951 2729313335 1113151719 00013 00000 00000 00000 00000 00000 00000 00000 9659851,0051,0251,045 9851,0051,0251,0451,065 5355575961 3739414345 2123252729 5791113 00000 00000 00000 00000 00000 00000 00000 1,0651,0851,1051,1251,145 1,0851,1051,1251,1451,165 6365676971 4749515355 3133353739 1517192123 01357 00000 00000 00000 00000 00000 00000 1,1651,1851,2051,2251,245 1,1851,2051,2251,2451,265 7375788083 5759616365 4143454749 2527293133 911131517 00001 00000 00000 00000 00000 00000 1,2651,2851,3051,3251,345 1,2851,3051,3251,3451,365 8587909295 6769717375 5153555759 3537394143 1921232527 357911 00000 00000 00000 00000 00000 1,3651,385 1,3851,405 9799 7880 6163 4547 2931 1315 00 00 00 00 00 Source: Internal Revenue Service. TABLE 2—BIWEEKLY Payroll Period (a) SINGLE person (including head of household)— (b) MARRIED person— If the amount of wages (after subtracting withholding allowances) is: The amount of income taxto withhold is: If the amount of wages (after subtracting withholding allowances) is: The amount of income taxto withhold is: Not over $142 $0 Not over $444 $0 Over— But not over— of excess over— Over— But not over— of excess over— $142 —$509 $0.00 plus 10% —$142 $444 —$1,177 $0.00 plus 10% —$444 $509 —$1,631 $36.70 plus 12% —$509 $1,177 —$3,421 $73.30 plus 12% —$1,177 $1,631 —$3,315 $171.34 plus 22% —$1,631 $3,421 —$6,790 $342.58 plus 22% —$3,421 $3,315 —$6,200 $541.82 plus 24% —$3,315 $6,790 —$12,560 $1,083.76 plus 24% —$6,790 $6,200 —$7,835 $1,234.22 plus 32% —$6,200 $12,560 —$15,829 $2,468.56 plus 32% —$12,560 $7,835 —$19,373 $1,757.42 plus 35% —$7,835 $15,829 —$23,521 $3,514.64 plus 35% —$15,829 $19,373 . . . $5,975.72 plus 37% —$19,373 $23,521 . . . $6,206.84 plus 37% —$23,521 Source: Internal Revenue Service.

Use the appropriate table to determine the amount to withhold for federal income tax from each of the following biweekly wages (biweekly withholding allowance = $159.60): Patrick Patrone (single, 2 allowances), $925 wages $ Carson Leno (married, 4 allowances), $1,195 wages $ Carli Lintz (single, 0 allowances), $700 wages $ Gene Hartz (single, 1 allowance), $2,500 wages $ Mollie Parmer (married, 2 allowances), $3,600 wages $ Wage Bracket Method Tables for Income Tax Withholding SINGLE Persons—BIWEEKLY Payroll Period(For Wages Paid through December 31, 2018) And the wages are– And the number of withholding allowances claimed is— At least But less than 0 1 2 3 4 5 6 7 8 9 10 The amount of income tax to be withheld is— $250260270 $260270280 $111213 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 280290300310320 290300310320330 1415161718 00012 00000 00000 00000 00000 00000 00000 00000 00000 00000 330340350360370 340350360370380 1920212223 34567 00000 00000 00000 00000 00000 00000 00000 00000 00000 380390400410420 390400410420430 2425262728 89101112 00000 00000 00000 00000 00000 00000 00000 00000 00000 430440450460470 440450460470480 2930313233 1314151617 00001 00000 00000 00000 00000 00000 00000 00000 00000 480490500520540 490500520540560 3435373942 1819212325 23579 00000 00000 00000 00000 00000 00000 00000 00000 560580600620640 580600620640660 4446495154 2729313335 1113151719 00013 00000 00000 00000 00000 00000 00000 00000 660680700720740 680700720740760 5658616366 3739424446 2123252729 5791113 00000 00000 00000 00000 00000 00000 00000 760780800820840 780800820840860 6870737578 4951545658 3133353739 1517192123 01357 00000 00000 00000 00000 00000 00000 860880900920 880900920940 80828587 61636668 42444649 25272931 9111315 0000 0000 0000 0000 0000 0000 Source: Internal Revenue Service. Wage Bracket Method Tables for Income Tax Withholding MARRIED Persons—BIWEEKLY Payroll Period(For Wages Paid through December 31, 2018) And the wages are– And the number of withholding allowances claimed is— At least But less than 0 1 2 3 4 5 6 7 8 9 10 The amount of income tax to be withheld is— $495505525545 $505525545565 $67911 $0000 $0000 $0000 $0000 $0000 $0000 $0000 $0000 $0000 $0000 565585605625645 585605625645665 1315171921 00135 00000 00000 00000 00000 00000 00000 00000 00000 00000 665685705725745 685705725745765 2325272931 79111315 00000 00000 00000 00000 00000 00000 00000 00000 00000 765785805825845 785805825845865 3335373941 1719212325 13579 00000 00000 00000 00000 00000 00000 00000 00000 865885905925945 885905925945965 4345474951 2729313335 1113151719 00013 00000 00000 00000 00000 00000 00000 00000 9659851,0051,0251,045 9851,0051,0251,0451,065 5355575961 3739414345 2123252729 5791113 00000 00000 00000 00000 00000 00000 00000 1,0651,0851,1051,1251,145 1,0851,1051,1251,1451,165 6365676971 4749515355 3133353739 1517192123 01357 00000 00000 00000 00000 00000 00000 1,1651,1851,2051,2251,245 1,1851,2051,2251,2451,265 7375788083 5759616365 4143454749 2527293133 911131517 00001 00000 00000 00000 00000 00000 1,2651,2851,3051,3251,345 1,2851,3051,3251,3451,365 8587909295 6769717375 5153555759 3537394143 1921232527 357911 00000 00000 00000 00000 00000 1,3651,385 1,3851,405 9799 7880 6163 4547 2931 1315 00 00 00 00 00 Source: Internal Revenue Service. TABLE 2—BIWEEKLY Payroll Period (a) SINGLE person (including head of household)— (b) MARRIED person— If the amount of wages (after subtracting withholding allowances) is: The amount of income taxto withhold is: If the amount of wages (after subtracting withholding allowances) is: The amount of income taxto withhold is: Not over $142 $0 Not over $444 $0 Over— But not over— of excess over— Over— But not over— of excess over— $142 —$509 $0.00 plus 10% —$142 $444 —$1,177 $0.00 plus 10% —$444 $509 —$1,631 $36.70 plus 12% —$509 $1,177 —$3,421 $73.30 plus 12% —$1,177 $1,631 —$3,315 $171.34 plus 22% —$1,631 $3,421 —$6,790 $342.58 plus 22% —$3,421 $3,315 —$6,200 $541.82 plus 24% —$3,315 $6,790 —$12,560 $1,083.76 plus 24% —$6,790 $6,200 —$7,835 $1,234.22 plus 32% —$6,200 $12,560 —$15,829 $2,468.56 plus 32% —$12,560 $7,835 —$19,373 $1,757.42 plus 35% —$7,835 $15,829 —$23,521 $3,514.64 plus 35% —$15,829 $19,373 . . . $5,975.72 plus 37% —$19,373 $23,521 . . . $6,206.84 plus 37% —$23,521 Source: Internal Revenue Service.

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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Use the appropriate table to determine the amount to withhold for federal income tax from each of the following biweekly wages (biweekly withholding allowance = $159.60):

Patrick Patrone (single, 2 allowances), $925 wages	$
Carson Leno (married, 4 allowances), $1,195 wages	$
Carli Lintz (single, 0 allowances), $700 wages	$
Gene Hartz (single, 1 allowance), $2,500 wages	$
Mollie Parmer (married, 2 allowances), $3,600 wages	$

Wage Bracket Method Tables for Income Tax Withholding
SINGLE Persons—BIWEEKLY Payroll Period (For Wages Paid through December 31, 2018)
And the wages are–	And the number of withholding allowances claimed is—
At least	But less than	0	1	2	3	4	5	6	7	8	9	10
The amount of income tax to be withheld is—
$250 260 270	$260 270 280	$11 12 13	$0 0 0	$0 0 0	$0 0 0	$0 0 0	$0 0 0	$0 0 0	$0 0 0	$0 0 0	$0 0 0	$0 0 0

280 290 300 310 320	290 300 310 320 330	14 15 16 17 18	0 0 0 1 2	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

330 340 350 360 370	340 350 360 370 380	19 20 21 22 23	3 4 5 6 7	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

380 390 400 410 420	390 400 410 420 430	24 25 26 27 28	8 9 10 11 12	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

430 440 450 460 470	440 450 460 470 480	29 30 31 32 33	13 14 15 16 17	0 0 0 0 1	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

480 490 500 520 540	490 500 520 540 560	34 35 37 39 42	18 19 21 23 25	2 3 5 7 9	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

560 580 600 620 640	580 600 620 640 660	44 46 49 51 54	27 29 31 33 35	11 13 15 17 19	0 0 0 1 3	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

660 680 700 720 740	680 700 720 740 760	56 58 61 63 66	37 39 42 44 46	21 23 25 27 29	5 7 9 11 13	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

760 780 800 820 840	780 800 820 840 860	68 70 73 75 78	49 51 54 56 58	31 33 35 37 39	15 17 19 21 23	0 1 3 5 7	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

860 880 900 920	880 900 920 940	80 82 85 87	61 63 66 68	42 44 46 49	25 27 29 31	9 11 13 15	0 0 0 0	0 0 0 0	0 0 0 0	0 0 0 0	0 0 0 0	0 0 0 0


Source: Internal Revenue Service.
Wage Bracket Method Tables for Income Tax Withholding
MARRIED Persons—BIWEEKLY Payroll Period (For Wages Paid through December 31, 2018)
And the wages are–	And the number of withholding allowances claimed is—
At least	But less than	0	1	2	3	4	5	6	7	8	9	10
The amount of income tax to be withheld is—
$495 505 525 545	$505 525 545 565	$6 7 9 11	$0 0 0 0	$0 0 0 0	$0 0 0 0	$0 0 0 0	$0 0 0 0	$0 0 0 0	$0 0 0 0	$0 0 0 0	$0 0 0 0	$0 0 0 0

565 585 605 625 645	585 605 625 645 665	13 15 17 19 21	0 0 1 3 5	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

665 685 705 725 745	685 705 725 745 765	23 25 27 29 31	7 9 11 13 15	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

765 785 805 825 845	785 805 825 845 865	33 35 37 39 41	17 19 21 23 25	1 3 5 7 9	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

865 885 905 925 945	885 905 925 945 965	43 45 47 49 51	27 29 31 33 35	11 13 15 17 19	0 0 0 1 3	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

965 985 1,005 1,025 1,045	985 1,005 1,025 1,045 1,065	53 55 57 59 61	37 39 41 43 45	21 23 25 27 29	5 7 9 11 13	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

1,065 1,085 1,105 1,125 1,145	1,085 1,105 1,125 1,145 1,165	63 65 67 69 71	47 49 51 53 55	31 33 35 37 39	15 17 19 21 23	0 1 3 5 7	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

1,165 1,185 1,205 1,225 1,245	1,185 1,205 1,225 1,245 1,265	73 75 78 80 83	57 59 61 63 65	41 43 45 47 49	25 27 29 31 33	9 11 13 15 17	0 0 0 0 1	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

1,265 1,285 1,305 1,325 1,345	1,285 1,305 1,325 1,345 1,365	85 87 90 92 95	67 69 71 73 75	51 53 55 57 59	35 37 39 41 43	19 21 23 25 27	3 5 7 9 11	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0	0 0 0 0 0

1,365 1,385	1,385 1,405	97 99	78 80	61 63	45 47	29 31	13 15	0 0	0 0	0 0	0 0	0 0

Source: Internal Revenue Service.

TABLE 2—BIWEEKLY Payroll Period

(a) SINGLE person (including head of household)—	(b) MARRIED person—
If the amount of wages (after subtracting withholding allowances) is:	The amount of income tax to withhold is:	If the amount of wages (after subtracting withholding allowances) is:	The amount of income tax to withhold is:
Not over $142	$0	Not over $444	$0
Over—	But not over—	of excess over—	Over—	But not over—	of excess over—
$142	—$509	$0.00 plus 10%	—$142	$444	—$1,177	$0.00 plus 10%	—$444
$509	—$1,631	$36.70 plus 12%	—$509	$1,177	—$3,421	$73.30 plus 12%	—$1,177
$1,631	—$3,315	$171.34 plus 22%	—$1,631	$3,421	—$6,790	$342.58 plus 22%	—$3,421
$3,315	—$6,200	$541.82 plus 24%	—$3,315	$6,790	—$12,560	$1,083.76 plus 24%	—$6,790
$6,200	—$7,835	$1,234.22 plus 32%	—$6,200	$12,560	—$15,829	$2,468.56 plus 32%	—$12,560
$7,835	—$19,373	$1,757.42 plus 35%	—$7,835	$15,829	—$23,521	$3,514.64 plus 35%	—$15,829
$19,373	. . .	$5,975.72 plus 37%	—$19,373	$23,521	. . .	$6,206.84 plus 37%	—$23,521
Source: Internal Revenue Service.

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