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MBA IT, Mater in Science and Technology
Devry
Jul-1996 - Jul-2000
Professor
Devry University
Mar-2010 - Oct-2016
Accounting help
Tooka’s Trees in Auburn, Tennessee, has six employees who are paid biweekly. Calculate the net pay from the information provided below for the November 15 pay date. Assume that all wages are subject to Social Security and Medicare taxes. Use the wage-bracket method of determining Federal income tax. All 401(k) and Section 125 amounts are pre-tax deductions. The wages are not subject to state taxes. Use Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.)
a. | T. Taylor |
 | Single, four withholdings |
 | Gross pay: $1,500 per period |
 | 401(k) deduction: $125 per pay period |
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b. | B. Walburn |
 | Married, six withholdings |
 | Gross pay: $2,225 per period |
 | 401(k) deduction: $250 per period |
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c. | H. Carpenter |
 | Single, no withholdings |
 | Gross pay: $2,100 per period |
 | Section 125 deduction: $75 per period |
 | 401(k) deduction: $50 per period |
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d. | J. Knight |
 | Married, three withholdings |
 | Gross pay: $1,875 per period |
 | United Way deduction: $50 per period |
 | Garnishment $50 per period |
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e. | C. Lunn |
 | Single, one withholding |
 | Gross pay: $1,200 per period |
 | Section 125 withholding: $50 per period |
 | 401(k) deduction 6% of gross pay |
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f. | E. Smooter |
 | Married, eight withholdings |
 | Gross pay: $2,425 per pemathriod |
 | 401(k) deduction: $75 per period |
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