CH$7$ One$-$Month Project: Ellipses Corp.

Complete the project outlined in your text using the provided files. When you have finished the project, complete this screen based on your work

$1$: What is the total net pay for all employees for each pay period in December?

$1$st pay period: $

$2$nd pay period : $

$3$rd pay period : $

$4$th pay period : $

$2$: By how much does the Payroll Tax Expense account increase after each pay period?

$1$st pay period; $

$2$nd pay period : $

$3$rd pay period : $

$4$th pay period: $

$3$: What did you enter in the indicated boxes of Form $941?$

Box $2?$ : $

Box $10?$ : $

$4$: What did you enter in Box $12$ of Form $940?$ $

$5$: What is the total SUTA tax owed for the year? $

$6$: What did you enter in the indicated box of Form W$-2$ for each employee?

Box $1$ for Hunter Cranston; $

Box $12$a for Allison Harrison : $$|$

Box $3$ for John Parker : $

Box $2$ for Pierre Sternberg : $

$7$: What did you enter in the indicated boxes of Form W$-3?$

Box$2?$ :

Box $3?$ : $

Box $5?$ : $

Box $6?$ : $

One$-$Month Project: Ellipses Corp.

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 $777777777,$ and its president, who signs all tax forms, is John Parker $($telephone #$571-5550073).$ The company does not wish to name a third$-$party designee on forms.

During $2023$ these four individuals are employed by Ellipses Corp.:

$\backslash$table$[[$ELLIPSES CORP. EMPLOYEES$],[$Name$,$Address,SSN$,\backslash$table$[[$Federal$],[$W$/$H$],[$Allow$.]],\backslash$table$[[$State$],[$W$/$H$],[$Allow$.]],\backslash$table$[[$Marital$],[$Status$]],],[\backslash$table$[[$Hunter$],[$Cranston$]],\backslash$table$[[85$ Southern Road$],[$Herndon$,$ VA $20170]],111-11-1111,2,2,$Married,$],[\backslash$table$[[$Allison$],[$Harrison$]],\backslash$table$[[203$A Pine Court$],[$Herndon$,$ VA $20170]],777-77-7777,4,3,$Married,$],[\backslash$table$[[$John Parker$]],\backslash$table$[[212$ Tradition Lane$],[$Herndon$,$ VA $20170]],444-44-4444,1,1,$Single,$],[\backslash$table$[[$Pierre$],[$Sternberg$]],\backslash$table$[[41$ Seward Boulevard$],[$Herndon$,$ VA $20170]],333-33-3333,$N$/$A$,$N$/$A$,$Married,$]]$

Pierre Sternberg was hired in November and his first day of work was Friday, November $17.$ On his W$-4$ Form Pierre checked box $2c$ and left sections $3$ and $4$ blank. Pierre files as married filing jointly on his tax return. Additionally, due to an economic downturn, Allison Harrison was laid off in mid$-$December. Her last day of work was Thursday, December $7.$

All employees of Ellipses Corp. work a regular $40-$hour workweek $($all hours worked over $40$ in a given week are overtime hours$),$ receive overtime pay at a rate of $1\mathrm{.}5$ times the regular wage rate, and are paid weekly on Thursday for the current week $($which runs from Friday through Thursday, but employees never work on weekends$).$ The SUTA tax rate for Ellipses Corp. is $3\mathrm{.}1\%,$ and the SUTA wage base in Virginia is $$8,000.$

Earnings and voluntary deduction information for each of the four employees is as follows:

$2$

EARNINGS AND VOLUNTARY DEDUCTIONS

$\backslash$table$[[$Name$,\backslash$table$[[$Regular$],[$Wage Rate$]],\backslash$table$[[$Annual$],[$Salary$]],\backslash$table$[[$Weekly $401($k$)],[$Deduction$]],\backslash$table$[[$Weekly$],[$Charitable$],[$Cont$.]]],[$Hunter Cranston,$$\frac{15}{?}$ hour,N$/$A$,6\%$ of gross pay,$$5$