What value of income tax is withheld from the salary of an employee who is single with two withholding allowances and earning $725 per week? What if the employee earned$625 and has no withholding allowances? (Use Exhibit 11A.6.)

Find the federal withholding tax for the employee. Use the wage bracket method.

The following four taxpayers have listed their allowable exemptions and deductions. Calculate the total exemptions and deductions. Then find the taxable income in each case.

Mike and Rachel form M&R Partnership. Mike invests $\$40,000$ cash and Rachel invests $\$60,000$ cash. The partners agree to share income as follows: Mike gets a salary allowance of $\$5,000$ per year and Rachel gets a salary allowance of $\$9,000$ per year; both get an annual interest allowance of $10\%$ on their initial investment; and any remaining balance is shared equally. Net income for the year is $\$30,000$. Also, Mike withdrew $\$1,000$ cash from the partnership and Rachel withdrew $\$2,000$. Prepare a statement of partners’ equity for the year ended December $31$.

Refer to the Wage Bracket Method Tables for Income Tax Withholding and use the following information to complete the requirements.

A. Determine the federal income tax withholdings amount per monthly pay period for each employee.

Find the federal withholding tax for the employee. Use the wage bracket method.

Find the federal withholding tax for the employee. Use the wage bracket method.

Find the federal withholding tax for the employee. Use the wage bracket method.

Total income minus exemptions and deductions _____

The following four taxpayers have listed their allowable exemptions and deductions. Calculate the total exemptions and deductions. Then find the taxable income in each case.

Find the federal withholding tax for the employee. Use the wage bracket method.

The following four taxpayers have listed their allowable exemptions and deductions. Calculate the total exemptions and deductions. Then find the taxable income in each case.

Find the federal withholding tax for the employee. Use the wage bracket method.

Find the federal withholding tax for the employee. Use the wage bracket method.