Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Acc 105 Final - Payroll Project, please help! Need help is completing these spreadsheets 2. Use the Wage Bracket Method for 2021 in Publication 15T
Acc 105 Final - Payroll Project, please help!
Need help is completing these spreadsheets
2. Use the Wage Bracket Method for 2021 in Publication 15T to calculate FIT. Note: The state withholding for Arizona is listed in the payroll register. Journal Entry Tab 1. Prepare a Journal Entry for the payroll register you completed in Step 1. Payroll Accrual 1. Prepare an accural to record payroll for the December 26th period. Earnings Record 1. Enter the data calculated on the payroll register to the earnings record for each employee. 2. Calculate the annual total on the YRTOT line by adding the YTD column and the payroll data entered from the payroll register. Note: The data is to be used to complete Forms 940 and 941 and the W-2 forms. Form 940 1. Use the data from the earnings record to complete this form. 2. Use the YR TOT column for your unemployment data. You must calcualte FUTA for the entire year. Form 941 1. Use the data from the earnings record to complete this form. 2. Use the QTR TOT column for your wage and tax data. Form A1-QRT 1. Use the data you calculated to complete this form. 2. Use the QTR TOT column for your wage and tax data. \begin{tabular}{lllllll} \hline \end{tabular} 1. Prepare an accural to record payroll for the December 26 th period. Instructions: 1. Enter the data calculated on the payroll register to the earnings record for each employee. 2. Calculate the annual total on the YRTOT line by adding the YTD column and the payroll data entered from the payroll register. Note: The data is to be used to complete forms 940 and 941 and the W-2 forms. 2. Use the Wage Bracket Method for 2021 in Publication 15T to calculate FIT. Note: The state withholding for Arizona is listed in the payroll register. Journal Entry Tab 1. Prepare a Journal Entry for the payroll register you completed in Step 1. Payroll Accrual 1. Prepare an accural to record payroll for the December 26th period. Earnings Record 1. Enter the data calculated on the payroll register to the earnings record for each employee. 2. Calculate the annual total on the YRTOT line by adding the YTD column and the payroll data entered from the payroll register. Note: The data is to be used to complete Forms 940 and 941 and the W-2 forms. Form 940 1. Use the data from the earnings record to complete this form. 2. Use the YR TOT column for your unemployment data. You must calcualte FUTA for the entire year. Form 941 1. Use the data from the earnings record to complete this form. 2. Use the QTR TOT column for your wage and tax data. Form A1-QRT 1. Use the data you calculated to complete this form. 2. Use the QTR TOT column for your wage and tax data. \begin{tabular}{lllllll} \hline \end{tabular} 1. Prepare an accural to record payroll for the December 26 th period. Instructions: 1. Enter the data calculated on the payroll register to the earnings record for each employee. 2. Calculate the annual total on the YRTOT line by adding the YTD column and the payroll data entered from the payroll register. Note: The data is to be used to complete forms 940 and 941 and the W-2 formsStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started