Homework: Chapter 11 Homewo Score: 0 of 20 pts P11-26A (similar to) Score: 0 of
ID: 2432776 • Letter: H
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Homework: Chapter 11 Homewo Score: 0 of 20 pts P11-26A (similar to) Score: 0 of 20 pls5 of dcomplteHws Lenny Worthington is general manager ofCountrywide incurred payro Countrywide Salons. During 2018, Worthington worked for the company all yearpaid state unemployment ta at a $12 900 monthly salary. He also eaned unemployment tax a year-end bonus equal to 5% of his annual salary Worthington's federal income tax withheld during 2018 was $1,290 per month,information) plus $1.161 on his bonus check State income tax withheld came to $70 per month, plus $50 on the bonus. FICA tax was withheld on the annual earnings Worthington authorized the following payroll deductions: Charity Fund contribution of 2% of total earnings and life insurance of $45 per Worthington for FICA tax T (Cick the icon to view p Read the requirement Requirement 1. Compute Worthingt 2018 Round all amounts to the nearest dollar ton's gross pay, payroll deductions, and net p Begin by computing Worthington's gross pay for the year (Round all amounts to t Gross pay Gross PayExplanation / Answer
Gross pay Salary (12900*12) $154,800 Bonus (15480*5%) $7,740 Total gross pay $162,540 Payroll deductions Federal income tax (1290*12)+1161 16641 State Income Tax (70*12)+50 890 FICA Social security (128400*6.2%)+(162540*1.45%) 10318 Chartity fund contribution (162540*2%) 3251 Life insurance deduction (45*12) 540 Total Payroll deductions 31639 Net pay 162540-31639 $130,901 If any doubt please comment
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