During the first full week of 2017, the Payroll Department of Omni Corporation is preparing the Forms
Question:
Assume each employee earned the same weekly salary for each of the 52 paydays in 2016. Using the following information obtained from the personnel and payroll records of the firm, complete Copy A of the six Forms W-2 reproduced on the following pages. Also complete FormW-3. The form is to be signed by the president, Frank Kent, and is prepared by Vince Roper.
Company Information:
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Address: 4800 River Road Philadelphia, PA 19113-5548 Pennsylvania state identification number:00-0-1066 00-0000972 0001895 Telephone number: (215) 555-0017 Fax number: (215) 555-0010 Income Tax Information: The uage-bracket method is used to detenmine federal income tax withbolding. Calculate the anual federal income tax uithheld by using the weekly uage-brackettable and multiply the ansuerbyS2. The other taxes withbeldare shown bdow. Employee Data Randy A. Kellison Federal identification number: Philadelphia identification number: Payroll Data Annual Taxes Withheld Single, 2 allowances $715 per week SS#: 000-00-4310 Deduction for 401(k) plan: $50week 2,305.16 Social security tax withheld 54 Gradison Place Philadelphia, PA 191134054 539.24 1,141.40 1,457.56 Medicare tax withheld State income tax withheld Local income tax withheld Vince T. Roper 56 Andrews Court, Apt. 7 Philadelphia, PA 19103-3356 Married, 3 allowances $985 per week SS#: 000-00-8804 Dependent care payment: $950 $70/week-401(k) 3,175.64 Social security tax withheld 742.56 Medicare tax withheld 1,572.48 State income tax withheld 2,007.72 Local income tax withheld Single, 0 allowances $765 per week SS#: 000-00-3316 Union dues withheld: $102 2,466.36 576.68 1,221.48 1,559.48 Social security tax withheld Medicare tax withheld State income tax withheld Local income tax withheld Murray I 770 Camac Street Philadelphia, PA 19101-3770 Frank A, Kent 338 North Side Avenue Philadelphia, PA 19130-6638 Married, 6 allowances $1,875 per week SS#: 000-00-6839 Cost of group-term life insurance exceeding $50,000: $262.75 No income tax withheld on insurance cost, but FICA taxes are withheld. $100/week-401(k) 6,061.29 1,417.69 2,993.12 3,822.00 Social security tax withheld Medicare tax withheld State income tax withheld Local income tax withheld Carlie C. Christian 4900 Gladwynne Terrace Philadelphia, PA 19127-0049 Married, 5 allowances $780 per week SS#: 000-00-5771 Union dues withheld: $102 2,514.72 588.12 1,245.40 1,590.16 Social security tax withheld Medicare tax withheld State income tax withheld Local income tax withheld Single, 1 allowance $790 per week SS#: 000-00-8703 Educational assistance payments (job 1,610.44 Local income tax withheld required): $675 $50/week-401(k) Zana W. Amelia 480-A Hopkinson Tower Philadelphia, PA 19101-3301 2,546.96 595.92 1,261.00 Social security tax withheld Medicare tax withheld State income tax withheld Must use percentage method to calculate federal income tax. 22222 Vopi. 1-45000 a Employossal scurty mumbar For Omicial Usa Only o wagas and sps Employoel's addross and AP coda 20 Fom W-2 wage and Tax statement Copy A For Social Socurity Administration Sand this antiro pago with Form W-3 to tho Social Security Administration; photooopias aro not acooptabla. For Prtwacy Act and Paporwork Reduction Act Notica, soo tho soparato Instructons. Do Not Cut, Fold, or Staple Forms on This Page-Do Not Cut, Fold, or Staple Forms on This Page 22222 vodnla a Employos social scurty mumbarFor Omcilal Usa Only OMB No. 1545-0008 Employoel's addross and AP coda W-2 Wage and Tax statement 20 Fom Copy A For Social Socurity Administration-Sand this antire pago with Form W-3 to the Social Socurity Administrationc photooopias aro not acooptabla For Prtwacy Act and Paporwork Reduction Act Notica, soo tho soparato Instructons. Do Not Cut, Fold, or Staple Forms on This Page-Do Not Cut, Fold, or Staple Forms on This Page 22222 Vo'. 1545000 nama, addraes, and ZP ooda o wagas and ps Employel's addross and AP coda rW-2 wage and Tax Statement 20 For Prtwacy Act and Paporwork Reduction Act Notica, soo the soparato Instructions. Copy A For Social Socuriy Administration Sand this antiro pago with Form W-3 to tho Social Security Administration photooopias aro not accoptabla. Do Not Cut, Fold, or Staple Forms on This Page-Do Not Cut, Fold, or Staple Forms on This Page 22222 vodnla a Employos social scurty mumbarFor Omcilal Usa Only OMB No. 1545-0008 nama, addraes, and ZP ooda o wagas and ps Employel's addross and AP coda rW-2 wage and Tax Statement 20 For Prtwacy Act and Paporwork Reduction Act Notica, soo the soparato Instructions. Copy A For Social Socurity Administration Sand this antire page with Form W-3 to the Social Socurity Administrationc photooopias aro not acooptabla. Do Not Cut, Fold, or Staple Forms on This Page-Do Not Cut, Fold, or Staple Forms on This Page 22222Vold a Employoe's social securty number For Official Use Only dentficaton numbar wagas and ps Employoel's addross and AP coda Fom W-2 wage and Tax statement 20 For Prtwacy Act and Paporwork Reduction Act Notica, soo tho soparato Instructons. Copy A For Social Socurity Administration Sand this antiro pago with Form W-3 to tho Social Security Administration; photooopias aro not acooptabla. Do Not Cut, Fold, or Staple Forms on This Page-Do Not Cut, Fold, or Staple Forms on This Page 22222 Void a Employos social scurty mumbarFor Omcilal Usa Only OMB No. 1545-0008 o wagas and sps Employoel's addross and AP coda 20 Fom W-2 wage and Tax statement Copy A For Social Socurity Administration-Sand this antire pago with Form W-3 to the Social Socurity Administrationc photooopias aro not acooptabla. For Prtwacy Act and Paporwork Reduction Act Notica, soo tho soparato Instructons. Do Not Cut, Fold, or Staple Forms on This Page-Do Not Cut, Fold, or Staple Forms on This Page DO NOT STAPLE For Official Usa Only Nona appy 5ono non-govt of 1c Stataloal 5010 (Chack ona) Chack ona Soclal sacurty wags 5 Modcara wagas and ps Employar's addrass and ZP ooda h Othar EN used this yoar 3 For third-party sick pay uso ony 4 Inooma tax withhold by paryor of third-party sick pay I8 Local waga, tps, Gtn under panatas ot parjury, l dacara that I hag Gcaminad this ntum and accompany ng documarts and, to the ba t of my krowtedge and bal碔thay ara trua, corract, and complata Fom W-3 Transmittal of Wage and Tax Statements 20-
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Wage and Tax Statement a 22222 Void a Employees social security number 000004310 For Official Use Only OMB No 1 5450008 b Employer identification number EIN 1 Wages tips other compensation 2 Federal i...View the full answer
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