226 Payroll Accounting Chapter 7: Comprehensive Projects-Paper-Based Vers One-Month Project NOTE! Templates needed to complete these...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
226 Payroll Accounting Chapter 7: Comprehensive Projects-Paper-Based Vers One-Month Project NOTE! Templates needed to complete these exercises, including one containing year-to-date payroll data, are included in the Student Exercise Files download for this course. Ellipses Corp. is a small business that operates in Herndon, VA. The company is located at 10 Period Lane Herndon, VA 20170. Its federal Employer Identification Number is 77-7777777, and its president, who signs all tax forms, is John Parker (telephone #571-555-0073). The company does not wish to name a third-party designee on forms. During 2019 four individuals are employed by Ellipses Corp. These employees are as follows: Name Address Social Security # Federal W/H Allowances State W/H Allowances Marital Status 2 Married Hunter Cranston 1929.40 Allison Harrison 1,421-34 John Parker 11, 138.32 Herndon, VA 20170 85 Southern Road Herndon, VA 20170 111-11-1111 2 3 203A Pine Court Herndon, VA 20170 777-77-7777 4 Married 1 212 Tradition Lane 444-44-4444 1 Single 2 Married Pierre Sternberg 41 Seward Boulevard 333-33-3333 2 6,546-24 Herndon, VA 20170 Note that Pierre Sternberg was hired in November, and his first day of work was Monday, November 25. Additionally, due to an economic downturn, Allison Harrison was laid off in mid-December, with her last day of work on Friday, December 13. All employees of Ellipses Corp. work a regular 40-hour workweek (thus all hours worked over 40 in a given week are overtime hours), receive overtime pay at a rate of 1.5 times the regular wage rate, and are paid weekly on Friday for the current week (which runs from Saturday through Friday, although employees never work on weekends). The SUTA tax rate applicable to Ellipses Corp. is 3.1%, while the SUTA wage base in Virginia is $8,000. Earnings and voluntary deduction information for each of the four employees is as follows: Name Regular Wage Rate Annual Salary Weekly 401(k) Deduction Weekly Charitable Contribution Hunter Cranston $15/hour N/A 6% of gross pay $5 Allison Harrison $23/hour N/A 5% of gross pay $5 John Parker N/A $203,000.20 N/A $20 Pierre Sternberg N/A $112,000.20 1% of gross pay N/A 226 Payroll Accounting Chapter 7: Comprehensive Projects-Paper-Based Vers One-Month Project NOTE! Templates needed to complete these exercises, including one containing year-to-date payroll data, are included in the Student Exercise Files download for this course. Ellipses Corp. is a small business that operates in Herndon, VA. The company is located at 10 Period Lane Herndon, VA 20170. Its federal Employer Identification Number is 77-7777777, and its president, who signs all tax forms, is John Parker (telephone #571-555-0073). The company does not wish to name a third-party designee on forms. During 2019 four individuals are employed by Ellipses Corp. These employees are as follows: Name Address Social Security # Federal W/H Allowances State W/H Allowances Marital Status 2 Married Hunter Cranston 1929.40 Allison Harrison 1,421-34 John Parker 11, 138.32 Herndon, VA 20170 85 Southern Road Herndon, VA 20170 111-11-1111 2 3 203A Pine Court Herndon, VA 20170 777-77-7777 4 Married 1 212 Tradition Lane 444-44-4444 1 Single 2 Married Pierre Sternberg 41 Seward Boulevard 333-33-3333 2 6,546-24 Herndon, VA 20170 Note that Pierre Sternberg was hired in November, and his first day of work was Monday, November 25. Additionally, due to an economic downturn, Allison Harrison was laid off in mid-December, with her last day of work on Friday, December 13. All employees of Ellipses Corp. work a regular 40-hour workweek (thus all hours worked over 40 in a given week are overtime hours), receive overtime pay at a rate of 1.5 times the regular wage rate, and are paid weekly on Friday for the current week (which runs from Saturday through Friday, although employees never work on weekends). The SUTA tax rate applicable to Ellipses Corp. is 3.1%, while the SUTA wage base in Virginia is $8,000. Earnings and voluntary deduction information for each of the four employees is as follows: Name Regular Wage Rate Annual Salary Weekly 401(k) Deduction Weekly Charitable Contribution Hunter Cranston $15/hour N/A 6% of gross pay $5 Allison Harrison $23/hour N/A 5% of gross pay $5 John Parker N/A $203,000.20 N/A $20 Pierre Sternberg N/A $112,000.20 1% of gross pay N/A
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
The second virial coefficient B' can be obtained from measurements of the density p of a gas at a series of pressures. Show that the graph of p/ p against p should be a straight line with slope...
-
IFRS Framework 2018 states that relevance and faithful representation are the two fundamental qualitative characteristics of financial information. Requirement: (a) Briefly discuss what is meant by...
-
An air-ambulance service in Colorado is interested in keeping its helicopter in a central location that would minimize the flight distance to four major ski resorts. An X-Y grid was laid over a map...
-
Use the information to write the vertex form of the parabola. f(x) = = 2x + 20x + 5 f(x) = 2(x+5) - 20 f(x)=2(x- 10) +5 none of these choices f(x)=2(x- 20) +5 f(x) = 2(x+5) - 45
-
what are the advantages or disadvantages of manufacturing and material location in the philippines
-
Every company needs an organisational structure to help define the elements the business needs for it to run properly. 1. Discuss two organisational structure elements and provide recommendations on...
-
4 The midterm grades on a chemistry exam, graded on a scale of 0 to 100, were: 62, 64, 65, 65, 68, 70, 72, 72, 74, 75, 75, 75, 76, 78, 78, 81, 83, 83, 84, 85, 87, 88, 92, 95, 98, 98, 100, 100, 740...
-
Come-Clean Corporation produces a variety of cleaning compounds and solutions for both industrial and household use. While most of its products are processed independently, a few are related, such as...
-
Come-Clean Corporation produces a variety of cleaning compounds and solutions for both industrial and household use. While most of its products are processed independently, a few are related, such as...
-
Herman is taking the U.S. History Advanced Placement Exam. He has taken 15 minutes to answer one short-answer question. Why is this a potential problem for Herman? He has 45 minutes to do two...
-
Steam is available at 180 c and cooling water at 20 c. a. for a minimum permissible temperature difference (?t min ) of 10 c, calculate the minimum hot and cold utility requirements. b. what are the...
-
Extracts from the statement of financial position of Rose Limited as at 31 December 2016 are as follows: Requirement: Prepare the statement of changes in equity for the year ended 31 December 2017...
-
Zipco Limited ("Zipco"), a company that was incorporated on 23 January 1988, is involved in the production and distribution of electronic games. Prior to 1 January 2017, Zipco had issued 100,000...
-
Franklin Ltd ("Franklin") is an Irish company that sells bathroom equipment direct to the public from two large outlets in different areas of Ireland. The company prepares its financial statements to...
Study smarter with the SolutionInn App