[The following information applies to the questions displayed below) Bobby Darli

Question

[The following information applies to the questions displayed below) Bobby Darling is the only employee of Atiantic Records, inc. During the first week of January, Darting earned 3.20000 and had federal and state income tax withholdings of $16000 and $6000. respectively. FICA taxes are 765 % on earnings up to $117.000. State and federal $20000 and $32.00, respectively taxes for the perlod are 2.00 points the amount of Darting's payroll check for the first week of January? O $2.735.20 O $2.503 20 O $2.955 20 O $3200 o0

Explanation / Answer

Amount of Darling's payoff check

= Gross earnings - Federal and state income tax withheld - FICA taxes

= $3,200 - ($160 + $60) - ($3,200 x 7.65%)

= $2,735.20

Note:

Federal and State unemployment tax is paid by the employer. Therefore, these taxes should not be deducted from Darling's earnings to calculate the amount of payoff check.

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.