Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Appendix A Continuing Payroll Project: Wayland Custom Woodworking (3 Months, Part 2) [The following information applies to the questions displayed belowj Wayland Custom Woodworking is

image text in transcribed

Appendix A Continuing Payroll Project: Wayland Custom Woodworking (3 Months, Part 2) [The following information applies to the questions displayed belowj Wayland Custom Woodworking is a firm that manufactures custom cabinets and woodwork for business and residential customers. Students will have the opportunity to establish payroll records and to complete a month of payroll information for Wayland. Wayland Custom Woodworking is located at 1716 Nichol Street, Logan, Utah, 84321, phone number 435-555- 9877. The owner is Mark Wayland. Wayland's EIN is 91-7444533, and the Utah Employer Account Number is 999-9290-1 Wayland has determined it will pay their employees on a semimonthly basis. Federal income tax should be computed using the percentage method. The SUTA (UI) rate for Wayland Custom Woodworking is 2.6 percent on the first $33,100 The state withholding rate is 5.0 percent for all income levels and marital statuses For Part 2 of this project, you will use the fourth quarter payroll information that you calculated in Part 1 to complete the following tax forms for Wayland Custom Woodworking: . U.S. Form 941 . U.S. Form 940 . Utah Form TC-941 . Utah Form 33H .Form W-2s for all 6 employees . Form W-3 for WCW Appendix A Continuing Payroll Project: Wayland Custom Woodworking (3 Months, Part 2) [The following information applies to the questions displayed belowj Wayland Custom Woodworking is a firm that manufactures custom cabinets and woodwork for business and residential customers. Students will have the opportunity to establish payroll records and to complete a month of payroll information for Wayland. Wayland Custom Woodworking is located at 1716 Nichol Street, Logan, Utah, 84321, phone number 435-555- 9877. The owner is Mark Wayland. Wayland's EIN is 91-7444533, and the Utah Employer Account Number is 999-9290-1 Wayland has determined it will pay their employees on a semimonthly basis. Federal income tax should be computed using the percentage method. The SUTA (UI) rate for Wayland Custom Woodworking is 2.6 percent on the first $33,100 The state withholding rate is 5.0 percent for all income levels and marital statuses For Part 2 of this project, you will use the fourth quarter payroll information that you calculated in Part 1 to complete the following tax forms for Wayland Custom Woodworking: . U.S. Form 941 . U.S. Form 940 . Utah Form TC-941 . Utah Form 33H .Form W-2s for all 6 employees . Form W-3 for WCW

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practical Steps To Forensic Auditing And Fraud Investigation

Authors: Enape Victoria Ayishetu

1st Edition

1669867048, 978-1669867043

More Books

Students also viewed these Accounting questions