Can someone please help explain how I would enter this informarion into Quickbooks? I need W2's, Form W3, the Summary for 2018, 940, and 941 filled out.

After reviewing the information above:

1. What information would be entered in each employee's W2?

2. What information would go into the company's W3 form?

3. Fill out the companys 941

4. Fill out the company's 940

One-Month Project NOTE! Templates needed to complete these exercises are included in the Student Exercise Files download for this course. Within that download you'll also find the "Using QuickBooks for Payroll" file. Be sure to review that file and complete the instructions prior to beginning this project Ellipses Corp. is a small business that operates in Herndon, VA. The company is located at 10 Period Lane, Herndon, VA 20170. Its federal and state identification numbers are 12-3456789, its state unemployment number is 4444444, 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. Within QuickBooks the industry associated with the company is General Business Service and the business type is Corporation. Ellipses Corp. is on a weekly payroll schedule During 2018 four individuals are employed by Ellipses Corp. These employees are as follows. Social Federal W/H Marital State W/H Security Name Address Allowances Allowances Status 85 Southern Road Parker Cranston 111-11-1111 2 Married Herndon, VA 20170 Allison Harrison 203A Pine Court 777-77-7777 3 Married 4 Herndon, VA 20170 John Parker 1 Single 212 Tradition Lane 444-44-4444 1 Herndon, VA 20170 Pierre Sternberg 41 Seward Boulevard 333-33-3333 Married 2 2 Herndon, VA 20170 Note that Pierre Sternberg was hired in November, and his first day of work Additionally, due to an economic downturn, Allison Harrison was laid off in mid-December, with her last day of work on Friday, December 21. Monday, November 19, 2018. was 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 Monday for the previous 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. Note that QuickBooks defaults to a Social Security wage base of $118,500 in the Ellipses Corp. company file. Although this amount differs from the 2017 wage base, please utilize this amount when completing the payroll cycle One-Month Project 235 Earnings and voluntary deduction information for each of the four employees is as follows. Regular Wage Rate Annual Weekly 401(k) Deduction Weekly Charitable contribution Name salary 6 % of gross pay Parker Cranston $18/hour N/A $5 5% of gross pay Allison Harrison $24/hour N/A $5 John Parker $25 N/A $205,400 N/A 10% of gross pay Pierre Sternberg N/A $111,800 N/A The first 11 months of the year have passed, and all payroll-related activity has been properly accounted for as of 11/30/2018. Note that retirement deductions are made in association with the Williams Insurance Agency. Payroll data for each of the four employees for the first three quarters of the year, as well as for the months of October and November, is as follows. Parker Cranston Gross Federal State Social Medicare 401(k) Charitable Period Earnings Income Tax Income Tax Security Tax Tax Deduction Cont. $439.93 1st quarter 9,360 $455 $580.32 $135.72 $561.60 $65 2nd quarter $580.32 $135.72 $561.60 S9,360 $455 $439.93 $65 3rd quarter S9,360 $455 $439.93 $580.32 $135.72 $561.60 $65 October $3,120 $140 $146.64 $193.44 $45.24 $187.20 $20 November $20 $3,120 $140 $146.64 $193.44 $45.24 $187.20 Allison Harrison Gross Federal State Social Medicare 401(k) Charitable Period Earnings Income Tax Income Tax Security Tax Tax Deduction Cont. $12,480 $624 $592.80 $773.76 $180.96 $65 1st quarter $624 2nd quarter $12,480 $624 $592.80 $773.76 $180.96 $624 $65 3rd quarter $180.96 $12,480 $624 $592.80 $773.76 S624 $65 $197.60 $257.92 October $4,160 $192 $208 $60.32 $20 $192 $60.32 $208 November $4,160 $197.60 $257.92 $20 John Parker Federal Medicare 401(k) Gross State Social Charitable Period Earnings Income Tax Income Tax Security Tax Tax Deduction Cont 1st quarter $51,350 $12,308.57 $2,567.50 $3,183.70 $744.58 S0 $325 2nd quarter $2,567.50 $51,350 $12,308.57 $3,183.70 $744.58 So $325 3rd quarter $2,567.50 $979.60 $744.58 $325 $51,350 $12,308.57 S0 october $15,800 $3,787.24 $790 $0 $229.10 S0 $100 November $229.10 $15,800 $3,787.24 $790 S0 $100 Pierre Sternberg Social Gross Federal State Medicare 401(k) Charitable Deduction Cont. Period Earnings Income Tax Income Tax Security Tax Tax $0 1st quarter $0 $0 S0 S0 S0 2nd quarter S0 $0 S0 S0 S0 $0 So 3rd quarter S0 So $0 So S0 $0 S0 October S0 $0 S0 S0 $0 November $2,150 $241.05 $96.75 $133.30 $31.18 $215 S0 Note that all tax payments and filings are made on the due date and that the company is a monthly depositor. Based on the data provided here, you will complete the following: 1. Within QuickBooks, process payroll for December for each of the four employees. Note that as of December 8, Parker Cranston requests that his federal withholding allowances increase from two to three. (Ellipses Corp. makes this change.) Payroll checks are remitted to the employees in the same order (Cranston, Harrison, Parker, Sternberg) each pay period and are written from a bank account that is used solely for these payments. This bank account has been established within QuickBooks to reflecta balance of $68,500 as of November 30. The first payroll check written in December is check #744. Employees may be subject to Additional Medicare Tax. You will need to calculate this and enter the deduction on the paycheck. Note that all charitable contributions are deemed to be made on the final day of each pay period. The following information will be required for the processing of payroll for the two employees who are compensated with an hourly wage. Weekly Hours Worked Weekly Start Date Parker Cranston Allison Harrison November 24 42 40 December 1 40 41 December 8 39 37 December 15 38 36 December 22 24 WARNING! The above dates are weekly start dates. Refer to a calendar to determine the weekly end dates and associated pay dates. Keep in mind that tax liability and payment amounts are determined based on the weekly pay dates 2. Within QuickBooks, create a Payroll Report that summarizes December payroll data (in the same manner that a payroll register summarizes such data). Export the report to Microsoft Excel. 3. Within QuickBooks, create a Payroll Report that summarizes 4th quarter (October-December) payroll data Export the report to Microsoft Excel. Then complete Form 941 for the 4th quarter. Note that based on the lookback period, the company is a monthly depositor that made timely payments throughout the entire year Although Virginia quarterly state payroll forms are also filed by Ellipses Corp., you will not complete these. Three-Month Project 237 4. Within QuickBooks, create report to Microsoft Excel. Then complete Form 940 for Ellipses Corp. Note that 401(k) deductions are taxable for FUTA and that FUTA payments are made only when required (i.e., if the employer is permitted to postpone the payment of these taxes, it will do so until a point in time when payment must be remitted). ea Payroll Report that summarizes payroll data for the entire year. Export the Calculate total SUTA tax owed by the employer. Although Ellipses Corp. will file state forms in which this figure is reported, you are required to calculate only the total amount owed for the year and provide it to your instructor via a Microsoft Excel file 5. 6. Based on the QuickBooks reports previously generated, complete Copy A of Form W-2 for each of the four employees. State wages were the same as federal wages subject to federal withholding tax for each of the four employees, and the state identification number for Ellipses Corp. is the same as its federal Employer Identification Number. Based on the QuickBooks reports previously generated, complete Form W-3 for Ellipses Corp. Note that the company files the paper version of the form and selects "None apply" in the Kind of Employer section. 7. One-Month Project NOTE! Templates needed to complete these exercises are included in the Student Exercise Files download for this course. Within that download you'll also find the "Using QuickBooks for Payroll" file. Be sure to review that file and complete the instructions prior to beginning this project Ellipses Corp. is a small business that operates in Herndon, VA. The company is located at 10 Period Lane, Herndon, VA 20170. Its federal and state identification numbers are 12-3456789, its state unemployment number is 4444444, 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. Within QuickBooks the industry associated with the company is General Business Service and the business type is Corporation. Ellipses Corp. is on a weekly payroll schedule During 2018 four individuals are employed by Ellipses Corp. These employees are as follows. Social Federal W/H Marital State W/H Security Name Address Allowances Allowances Status 85 Southern Road Parker Cranston 111-11-1111 2 Married Herndon, VA 20170 Allison Harrison 203A Pine Court 777-77-7777 3 Married 4 Herndon, VA 20170 John Parker 1 Single 212 Tradition Lane 444-44-4444 1 Herndon, VA 20170 Pierre Sternberg 41 Seward Boulevard 333-33-3333 Married 2 2 Herndon, VA 20170 Note that Pierre Sternberg was hired in November, and his first day of work Additionally, due to an economic downturn, Allison Harrison was laid off in mid-December, with her last day of work on Friday, December 21. Monday, November 19, 2018. was 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 Monday for the previous 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. Note that QuickBooks defaults to a Social Security wage base of $118,500 in the Ellipses Corp. company file. Although this amount differs from the 2017 wage base, please utilize this amount when completing the payroll cycle One-Month Project 235 Earnings and voluntary deduction information for each of the four employees is as follows. Regular Wage Rate Annual Weekly 401(k) Deduction Weekly Charitable contribution Name salary 6 % of gross pay Parker Cranston $18/hour N/A $5 5% of gross pay Allison Harrison $24/hour N/A $5 John Parker $25 N/A $205,400 N/A 10% of gross pay Pierre Sternberg N/A $111,800 N/A The first 11 months of the year have passed, and all payroll-related activity has been properly accounted for as of 11/30/2018. Note that retirement deductions are made in association with the Williams Insurance Agency. Payroll data for each of the four employees for the first three quarters of the year, as well as for the months of October and November, is as follows. Parker Cranston Gross Federal State Social Medicare 401(k) Charitable Period Earnings Income Tax Income Tax Security Tax Tax Deduction Cont. $439.93 1st quarter 9,360 $455 $580.32 $135.72 $561.60 $65 2nd quarter $580.32 $135.72 $561.60 S9,360 $455 $439.93 $65 3rd quarter S9,360 $455 $439.93 $580.32 $135.72 $561.60 $65 October $3,120 $140 $146.64 $193.44 $45.24 $187.20 $20 November $20 $3,120 $140 $146.64 $193.44 $45.24 $187.20 Allison Harrison Gross Federal State Social Medicare 401(k) Charitable Period Earnings Income Tax Income Tax Security Tax Tax Deduction Cont. $12,480 $624 $592.80 $773.76 $180.96 $65 1st quarter $624 2nd quarter $12,480 $624 $592.80 $773.76 $180.96 $624 $65 3rd quarter $180.96 $12,480 $624 $592.80 $773.76 S624 $65 $197.60 $257.92 October $4,160 $192 $208 $60.32 $20 $192 $60.32 $208 November $4,160 $197.60 $257.92 $20 John Parker Federal Medicare 401(k) Gross State Social Charitable Period Earnings Income Tax Income Tax Security Tax Tax Deduction Cont 1st quarter $51,350 $12,308.57 $2,567.50 $3,183.70 $744.58 S0 $325 2nd quarter $2,567.50 $51,350 $12,308.57 $3,183.70 $744.58 So $325 3rd quarter $2,567.50 $979.60 $744.58 $325 $51,350 $12,308.57 S0 october $15,800 $3,787.24 $790 $0 $229.10 S0 $100 November $229.10 $15,800 $3,787.24 $790 S0 $100 Pierre Sternberg Social Gross Federal State Medicare 401(k) Charitable Deduction Cont. Period Earnings Income Tax Income Tax Security Tax Tax $0 1st quarter $0 $0 S0 S0 S0 2nd quarter S0 $0 S0 S0 S0 $0 So 3rd quarter S0 So $0 So S0 $0 S0 October S0 $0 S0 S0 $0 November $2,150 $241.05 $96.75 $133.30 $31.18 $215 S0 Note that all tax payments and filings are made on the due date and that the company is a monthly depositor. Based on the data provided here, you will complete the following: 1. Within QuickBooks, process payroll for December for each of the four employees. Note that as of December 8, Parker Cranston requests that his federal withholding allowances increase from two to three. (Ellipses Corp. makes this change.) Payroll checks are remitted to the employees in the same order (Cranston, Harrison, Parker, Sternberg) each pay period and are written from a bank account that is used solely for these payments. This bank account has been established within QuickBooks to reflecta balance of $68,500 as of November 30. The first payroll check written in December is check #744. Employees may be subject to Additional Medicare Tax. You will need to calculate this and enter the deduction on the paycheck. Note that all charitable contributions are deemed to be made on the final day of each pay period. The following information will be required for the processing of payroll for the two employees who are compensated with an hourly wage. Weekly Hours Worked Weekly Start Date Parker Cranston Allison Harrison November 24 42 40 December 1 40 41 December 8 39 37 December 15 38 36 December 22 24 WARNING! The above dates are weekly start dates. Refer to a calendar to determine the weekly end dates and associated pay dates. Keep in mind that tax liability and payment amounts are determined based on the weekly pay dates 2. Within QuickBooks, create a Payroll Report that summarizes December payroll data (in the same manner that a payroll register summarizes such data). Export the report to Microsoft Excel. 3. Within QuickBooks, create a Payroll Report that summarizes 4th quarter (October-December) payroll data Export the report to Microsoft Excel. Then complete Form 941 for the 4th quarter. Note that based on the lookback period, the company is a monthly depositor that made timely payments throughout the entire year Although Virginia quarterly state payroll forms are also filed by Ellipses Corp., you will not complete these. Three-Month Project 237 4. Within QuickBooks, create report to Microsoft Excel. Then complete Form 940 for Ellipses Corp. Note that 401(k) deductions are taxable for FUTA and that FUTA payments are made only when required (i.e., if the employer is permitted to postpone the payment of these taxes, it will do so until a point in time when payment must be remitted). ea Payroll Report that summarizes payroll data for the entire year. Export the Calculate total SUTA tax owed by the employer. Although Ellipses Corp. will file state forms in which this figure is reported, you are required to calculate only the total amount owed for the year and provide it to your instructor via a Microsoft Excel file 5. 6. Based on the QuickBooks reports previously generated, complete Copy A of Form W-2 for each of the four employees. State wages were the same as federal wages subject to federal withholding tax for each of the four employees, and the state identification number for Ellipses Corp. is the same as its federal Employer Identification Number. Based on the QuickBooks reports previously generated, complete Form W-3 for Ellipses Corp. Note that the company files the paper version of the form and selects "None apply" in the Kind of Employer section. 7