Bryan is a salaried worker whose salary is $48,000 per year. The $2,000 he receives twice a month represents Bryan's. O A. net pay B. gross earnings C. pay category D. withholdings
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- 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. EmployeeNo. Employee Name Marital Status No. of WithholdingAllowances Gross Wageor Salary Amountto BeWithheld 1 Amoroso, A. M 4 $1,610 weekly $fill in the blank 1 2 Finley, R. S 0 825 biweekly fill in the blank 2 3 Gluck, E. S 5 9,630 quarterly fill in the blank 3 4 Quinn, S. M 8 925 semimonthly fill in the blank 4 5 Treave, Y. M 3 2,875 monthlyAssume an employee has a gross pay of $500 and vacation pay is paid out at 4%. How much extra gross pay does the employee receive on their paycheque? Select one: a. $500 O b. $0 c. $20 d. $480For each circumstances, calculate the SUTA tax owed by the employer. Assume a SUTA tax rate of 3.4% and a taxable earnings threshold of $8,500. A-1 Framing employs three workers who, as of the beginning of the current pay period, have earned $8,550, $8,200, and $7,400. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $1,100, $1,420, and $2,140, respectively. SUTA tax = $ What is the SUTA tax?
- 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. Amount to BeWithheld Employee MaritalStatus No. of WithholdingAllowances Gross Wageor Salary PercentageMethod Wage-BracketMethod Corn, A. S 2 $675 weekly $fill in the blank 1 $fill in the blank 2 Fogge, P. S 1 1,960 weekly fill in the blank 3 Felps, S. M 6 1,775 biweekly fill in the blank 5 fill in the blank 6 Carson, W. M 4 2,480 semimonthly fill in the blank 7 fill in the blank 8 Helm, M. M 9 5,380 monthly fill in the blank 9Assume the following payroll information for Jane Smith: Gross pay $10,000, Income tax $2,500, EI $220, CPP $540. What is included in the journal entry to record the employer amounts of the payroll: a. Employer portion of income tax $2,500 b. EI expense of $264 c. CPP payable of $540 d. EI payable of $220Data about the marital status, withholding allowances, and weekly salaries of the four office workers at Ollies Supplies are as follows. (Use the tables shown in Figure 10.1A & Figure 10.1B) Find the amount of federal income tax to be deducted from each employee's gross pay. Employee Marital Number Status Allowances Withholding Weekly Salary Income Tax Withholding 1 M 3 $ 690 2 S 3 575 3 M 1 715 4 S 3 505
- 1. Mr. Dacanay is a minimum wage earner (MWE) with a following date in a year: Compensation income (salary) ……………………. P 144,000.00 Mandatory contribution to govt (SSS Philhealth And HDF) 6,000.00 13th Month pay ------------------------------- 12,000.00 Compute the income tax present computation properly. 2. Mr. Malabag is not a minimum wage earner. He had the following data for the year. Taxable Compensation income--------------- P 280,000.00 13th month pay and other benefit exempt from Income tax ---------------------------------- 105,000.00 SSS 5,000.00 Compute the Income tax and present computation properly. 3. Mr. Cho had the following data in a calendar year. Gross sales from self-employment P 2,000,000.00 Interest on Philippine…Mr. Reyes is both employed and self-employed. He had the following income receipts during the month: Gross compensation income P 120,000.00 Director's fees 80,000.00 Professional fees 200,000.00 Total gross income P 400,000.00 The total amount subject to business tax is?Use the percentage method to compute the federal income tax to be withheld from each employee. Name Marital Status Gross Wages Anderson, J. Banks, M. Married Jointly Married Jointly $1,500 Weekly $750 Bi-Weekly Carter, D. Single Davis, L. Married Separate Harris, K. Single Justice, M. Single $3,500 Monthly $800 Semi-Monthly $1,000 Weekly $500 Weekly
- Problem 1: Mr. ABC is a resident Filipino citizen,show his income and expenses during a calendar year. Compensation Income: Gross compensation incom per month -50000 Total SSS premium contribution-2400 Total PhilHealth premium contribution-3000 REQUIRED: 1. compute for the taxable compensation income during the year assuming that Mr.ABC is a rank-and -file employee Total PAG-IBIG premium contributions-1200 Union dues-2000 Other benefits received by employees Annual rice subsidy-18000 Annual clothing allowance-14000 Temporary housing for 3 months-15000 Christmas gift-5000 Chrsitmas bonus-20000 Other income Rent income per month from leasing residential space-50000 Operating expense per month with receipt-25000b) Below is the details of payroll for Ms Amirah as at 31st March 2021. Employee's Category Conveyer Belt Operator RM 1,500 Basic rate Marriage status Single Allowance RM 543 Overtime RM 505 Monthly tax deduction 0 For year of assessment 2021 REQUIRED: Express calculation on following: i. ii. iii. Gross pay. Contribution (Employee Provident Fund and SOCSO) Net payohn Elton, who is classified as direct labor, earns $1,000 per week and is entitled to four weeks of vacation and 10 holidays each year. How much should be accrued for his holiday pay each week? A. $38.46 B. $40.00 C. $41.67 D. $130.00
