Question:
During the first full week of 2018, the Payroll Department of Omni
Corporation is preparing the Forms W-2 for dis- tribution to its employees along with their payroll checks on January 5. In this problem, you will complete six of the forms in order to gain some experience in recording the different kinds of information required.
Assume each employee earned the same weekly salary for each of the 52 paydays in 2017. 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 Form W-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...
Transcribed Image Text:
Address: 4800 River Road Philadelphia, PA 19113-5548 Pennsylvania state identification number: Federal identification number: Philadelphia identification number: 00-0-1066 00-0000972 0001895 Telephone number: (215) 555-0017 Fax number: (215) 555-0010 Income Tax Information: The wage-bracket method is used to determine federal income tax withholding. Calculate the annual federal income tax withheld by using the weekly wage-bracket table and multiply the answer by 52. The other taxes withheld are shown below. Payroll Data Single, 2 allowances $715 per week Employce Data Annual Taxes Withheld Randy A. Kellison 54 Gradison Place Philadelphia, PA 19113-4054 SS#: 0-00-4310 2,305.16 Social security tax withheld 539.24 Medicare tax withheld 1,141.40 State income tax withheld 1,453.92 Deduction for 401(k) plan: $50/week Local income tax withheld Vince T. Roper 56 Andrews Court, Apt. 7 Philadelphia, PA 19103-3356 SS#: 000-00-8804 Married, 3 allowances $985 per week 3,175.64 Social security tax withheld Medicare tax withheld State income tax withheld Local income tax withheld 742.56 1,572.48 Dependent care payment: $950 $70/week-401(k) 2,003.04 Murray T. Rodson 770 Camac Street Philadelphia, PA 19101-3770 SS#: 000-00-3316 Single, O allowances $765 per week 2,466.36 Social security tax withheld 576.68 1,221.48 1,555.32 Medicare tax withheld State income tax withheld Local income tax withheld Union dues withheld: $102 Frank A. Kent 338 North Side Avenue Philadelphia, PA 19130-6638 SS#: 000-00-6839 Married, 6 allowances $1,875 per week 6,061.29 Social security tax withheld 1,417.69 2,993.12 State income tax withheld 3,812.64 Local income tax withheld Medicare tax withheld Cost of group-term life insurance exceeding $50,000: $262.75* $100/week-401(k) Married, 5 allowances $780 per week Philadelphia, PA 19127-0049 SS#: 000-00-5771 Carlie C. Christian 2,514.72 Social security tax withheld 588.12 4900 Gladwynne Terrace Medicare tax withheld 1,245.40 State income tax withheld 1,586.00 Union dues withheld: $102 Local income tax withheld Single, 1 allowance $790 per week Philadelphia, PA 19101-3301 SS#: 000-00-8703 Zana W. Amelia 2,546.96 Social security tax withheld 595.92 480-A Hopkinson Tower Medicare tax withheld 1,261.00 1,606.28 State income tax withheld Educational assistance payments (job- required): $675 $50/week 401(k) Local income tax withheld