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Jane Heinlein is the payroll accountant for Sia Lights of Carter, Nebraska. The employees of Sia...

Jane Heinlein is the payroll accountant for Sia Lights of Carter, Nebraska. The employees of Sia Lights are paid biweekly. An employee, Melinda Gunnarson, comes to her on September 14 and requests a pay advance of $825, which she will pay back in equal parts on the September 28 and October 12 paychecks. Melinda is single with one withholding allowance and is paid $32,500 per year. She contributes 1 percent of her pay to a 401(k) plan and has $25 per paycheck deducted for a court-ordered garnishment.

Required:
Compute her net pay for her September 28th paycheck. The state income tax rate is 6.84 percent. Use the wage-bracket tables in Appendix C to determine the Federal income tax withholding amount.

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Expert Solution

Gross Income          32,500 date Salary due Salary paid Advance taken Advance returned NET SALARY PAID
- 401(k)@1% -325 1-Sep         241.13          241.13 0 0                       241.13
Net          32,175 7-Sep         241.13          241.13 0 0                       241.13
marginal federal tax rate is 12%          (3,861) 14-Sep         241.13          241.13 -825 0                   1,066.13
Net          28,314 21-Sep         241.13          241.13 0 0                       241.13
state [email protected]%          (1,937) 28-Sep         241.13          241.13 0 -412.5                     (171.37)
Net          26,377 5-Oct         241.13          241.13 0 0                       241.13
Per week (52 weeks)          507.26 12-Oct         241.13          241.13 0 -412.5                     (171.37)
-court order deduction -25
Net per week          482.26
Biweekly          241.13

jeff jeffy answered 1 year ago
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