Her gross earnings prior to the current week were $6,000. Michelle is married an

Question

Her gross earnings prior to the current week were $6,000. Michelle is married and dlaims three withholding allowances. Her only voluntary deduction is for group nsurance at $25 per week. MARRIED Persons-WEEKLY Payroll Period And the number of withholding allowances claimed is- utlesslol 11213141516 71819110 At least The amount of income tax to be withheld is 520 35 28 20 12 50 0 00 0 0 530 37 29 21 136 0 0 0 0 510 00 520 530 540 550|40|31|23 | 15 | 81 0 550 560 41 3 24 69o 0o 560 570 43 33 25 17 10 2 0 0 0 0 0 580 44 34 26 18 11 590 46 35 27 19 12 4 0 0 0 o 3 0 0 0 0 0 570 580 | 10:20@ 5 6 9 )O 00000 0000c *8 45678 9012r 12345 6789 For | | | |

Explanation / Answer

1. Gross Earnings(40*15)+(1*15*1.5)= 622.5 2. FICA taxes 622.5%*7.65%= 47.62 3. Federal income tax withheld 30 4. State income taxes withheld 12.45 5.Net Pay 532.43 Journal entry Wage expense 622.5 FICA taxes payable 47.62 Federal income tax payable 30 State income taxes Payable 12.45 Wage payable 532.43 NOTE: The income tax withholding table provided , does not have the row details for $ 620-630 Wages. So,the latest available(2017) has been used.

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