Question

In: Accounting

____   14.   Which of the following would be used to compute the federal income taxes to...

____   14.   Which of the following would be used to compute the federal income taxes to be withheld from an employee's earnings?

a.

FICA tax rate

b.

wage and tax statement

c.

FUTA tax rate

d.

wage bracket and withholding table

____   15.   The total earnings of an employee for a payroll period is referred to as

a.

take-home pay

b.

pay net of taxes

c.

net pay

d.

gross pay

Solutions

Expert Solution

14
Wage bracket and withholding table would be used to compute the federal income taxes to be withheld
Wage bracket and withholding table contain the basis of calculations for federal income taxes to be withheld
Option D is correct
15
The total earnings of an employee for a payroll period is referred to as gross pay
Option D is correct

ekkarill92 answered 3 years ago
Next > < Previous

Related Solutions

Which of the following would be used to compute the federal income taxes to be withheld...
Which of the following would be used to compute the federal income taxes to be withheld from an employee's earnings? a) FUTA tax rate b) withholding table c) FICA tax rate d) wage and tax statement
Use the percentage method to compute the federal income taxes to withhold from the wages or...
Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". Round your calculations and final answers to the nearest cent. Click here to access the Table of Allowance Values. Click here to access the Percentage Method Tables. Employee No. Employee Name Marital Status No. of Withholding Allowances Gross Wage or Salary Amount to Be Withheld 1 Amoroso, A. M 5 $1,610 weekly $...
Use the percentage method to compute the federal income taxes to withhold from the wages or...
Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". If required, round your calculations and final answers to the nearest cent. Click here to access the Table of Allowance Values. Click here to access the Percentage Method Tables. Employee No. Employee Name Marital Status No. of Withholding Allowances Gross Wage or Salary Amount to Be Withheld 1 Amoroso, A. M 4 $1,610...
Use the percentage method to compute the federal income taxes to withhold from the wages or...
Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". If required, round your calculations and final answers to the nearest cent. Click here to access the Table of Allowance Values. Click here to access the Percentage Method Tables. Employee No. Employee Name Marital Status No. of Withholding Allowances Gross Wage or Salary Amount to Be Withheld 1 Skymer, A. M 4 $...
Use the percentage method to compute the federal income taxes to withhold from the wages or...
Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". Round your calculations and final answers to the nearest cent. Click here to access the Table of Allowance Values. Click here to access the Percentage Method Tables. Employee No. Employee Name Marital Status No. of Withholding Allowances Gross Wage or Salary Amount to Be Withheld 1 Amoroso, A. M 5 $1,610 weekly $...
Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes...
Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. . Table of Allowance Values for 2017 Weekly 77.90 Biweekly 155.80 Semimonthly 168.80 Monthly 337.50 Quarterly 1,012.50 Semiannual 2,025.00 Annual 4,050.00 Daily/Misc. 15.60 the Percentage Method Tables. the Wage-Bracket Method Tables. Amount to Be Withheld Employee Marital Status...
Compute the 2018 Federal income tax in the following cases. All are residents of New York...
Compute the 2018 Federal income tax in the following cases. All are residents of New York State. Alan, single, lives by himself, income 145,000, Itemized deductions 9,500. Bob, single lives with his brother who was fired from his job in 2016 and has not earned any money since then. Bob's income was 115,000 and itemized deductions of 21,000. Chad and Doris, married, no children or dependents.   Income itemized deductions Chad 125,000 31,000 Doris 135,000 4,500 Compute tax for Chad and...
Identify federal income taxes governments utilize to fund the public sector and the impact of federal...
Identify federal income taxes governments utilize to fund the public sector and the impact of federal income taxes on both the producer and the consumer.
Which of the following statements about payroll taxes is true? A : Federal and state unemployment...
Which of the following statements about payroll taxes is true? A : Federal and state unemployment taxes are paid by employers to the taxing authority and are recorded as salaries and wages expense. B : Federal and state unemployment taxes are paid by employers to the taxing authority and are recorded as payroll tax expenses. C : Federal and state unemployment taxes are paid by employers to employees at the time they leave the company and are recorded as salaries...
The following is related to payroll: Federal taxes are 15% State taxes are 5% Medicare taxes...
The following is related to payroll: Federal taxes are 15% State taxes are 5% Medicare taxes are 1.45% on all wages Social security taxes are 6.2% on the first $120,000 of income The employee contributes 6% of gross wages to a 401K and the employer matches it by 3% the employee contributes 3% of salary to medical insurance and the company pays the rest premium of $300 Finally, the company offers disability and life insurance and pays the premium of...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT