Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

During the first full week of 20--, the Payroll Department of Quigley Corporation is preparing the Forms W-2 for distribution to its employees along with

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
During the first full week of 20--, the Payroll Department of Quigley Corporation is preparing the Forms W-2 for distribution to its employees along with their payroll checks on January 10. In this problem, you will complete six of the forms in order to gain some experience in recording the different kinds of information required, Assume each employee earned the same weekly salary for each of the 52 paydays in 20--the previous year). Using the following information obtained from the personnel and payroll records of the firm, complete Copy A of the four Forms W-2 reproduced below. On the second half of the problem (PR. 04.13A.PART2) you will complete the other two W-2s and the W-3. The form is to be signed by the president, Kenneth T. Ford, and is prepared by Ralph L. Volpe. Company Information: Address: 4800 River Road Philadelphia, PA 19113-5548 Telephone number: (215) 555-0017 Fax number: (215) 555-0010 Pennsylvania state identification number: Federal identification number: Philadelphia identification number: 00-0-1066 00-0000972 0001895 Income Tax Information: The wage-bracket method is used to determine federal Income tax withholding. Caleulate the annual federal Income tax withheld by using the weekly wage bracket table and multiply the answer by 52. The other taxes withheld are shown below Employee Data Payroll Data Annual Taxes Withheld See example of Kelly B. Roach's completed Form W-2 below. Kelly B. Roach Single, 1 allowance Social security tax withheld $2,305.16 54 Gradison Place $215 per week Medicare tax withheld 539.24 Philadelphia, PA 19113-4054 SSE: 000-00-4310 State income tax withheld 1,141,40 Deduction for 401(k) plan: $50/week Local income tax withheld 1,443.00 State unemployment tax withheld 22.36 Ralph 1 Volpe Married, 1 allowance Social security tax withheld 2,530.84 56 Andrews Court, Apt. 7 $785 per week Medicare tax withheld 591.76 Philadelphia, PA 19103-3356 SS: 000-00-8804 State income tax withheld 1,253,20 Dependent care payment: $950 Local income tax withheld 1,584.44 $70/week-401(6) State unemployment tax withheld" 24.44 Randi A. Myer Single, 0 allowances Social security tax withheld 2,853.24 770 Camac Street $885 per week Medicare tax withheld 667 16 Philadelphia, PA 19101-3770 SS: 000-00-3316 State income tax withheld 1,412.84 Union dues withheld: $102 Local income tax withheld 1,786.20 State unemployment tax withheld" 27.56 Kenneth T. Ford Married, 7 allowances Social security tax withheld 4,368,69 338 North Side Avenue $1,350 per week Medicare tax withheld 1,021.97 Philadelphia, PA 19130-6638 SS#: 000-00-6839 State income tax withheld 2,155.40 Cost of group-term life insurance Local income tax withheld 2,724.28 exceeding $50,000: $262.75 State unemployment tax withhelde 42.12 $100/week--401(K) Chrissy C. Carman Married, 3 allowances Social security tax withheld 2,643.68 4900 Gladwynne Terrace $820 per week Medicare tax withheld 618.28 Philadelphia, PA 19127-0049 SS: 000-00-5771 State income tax withheld 1,308.84 I Union dues withheld: $102 Local income tax withheld 1,654.64 State unemployment tax withheld 25.48 Hal B. Zuber Single, 1 allowance Social security tax withheld 2,546.96 480-A Hopkinson Tower $790 per week Medicare tax withheld 595.92 Philadelphia, PA 19101-3301 SS#: 000-00-8703 State income tax withheld 1,261.00 Educational assistance payments Local income tax withheld 1,594.32 job-required): $675 $50/week- 401(k) State unemployment tax withheld 24.44 *The cost of excess group-term life insurance is added to gross wapes for federal income tax, Social Security, and Medicare. Employers withhold OASDI and Ht tax on these amounts but are not required to withhold federal income tax. The cost is not added to gross wages for state and local taxes, therefore, it is not subject to those taxes (See Figure 4.8) *state unemployment tax withheld for Pennsylvania labeled as PA SUI on Form W-2 Box 14. If an amount box does not require an entry, leave it blank. Round your calculations and final answers to the nearest cent. You must enter in the hyphens in the social security numbers, employer identification number, etc. eBook dentification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 00-0000972 40,820 X 3 Social security wages 2,600 x 4 Social security tax withheld name, address, and ZIP code 2,530.84 40,820 5 Medicare wages and tips 6 Medicare tax withheld Corporation ver Road phia, PA 19113-5548 591.76 40,820 7 Social security tips 8 Allocated tips 0 Imber 10 Dependent care benefits 950 first name and initial Last name Sufr 11 Nonqualified plans 12a See Instructions for box 12 Ralph Volpe Code D ox 13 Retirement plan ews Court, Apt. 7 07 phia, PA 19103-3356 14 Other 12b Code 120 Code 120 O address and ZIP code PA SUI 42.12 Code Employer's state ID number 16 State Wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality 0001895 x 1,253.20 1,588.08 x Phili Check My Work Previous Next > COUN Identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 3 Social security wages s name, address, and ZIP code 4 Social security tax withheld 5 Medicare wages and tips 6 Medicare tax withheld y Corporation ver Road phia, PA 19113-5548 7 Sodal security tips 8 Allocated tips ber 10 Dependent care benefits 's first name and initial Last name Suff 11 Nonqualified plans 12a See instructions for box 12 Randi A Myer 13 Code 125 mac Street 14 Other elphia, PA 19101-3770 Code 120 Code 12d Code saddress and ZIP code Employer's state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality eBook identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld name, address, and ZIP code 3 Social security wages 4 Social security tax withheld 5 Medicare wages and tips 6 Medicare tax withheld Corporation ver Road phia, PA 19113-5548 7 Social security tips 8 Allocated tips mber 10 Dependent care benefits s first name and initial Last name Suf 11 Nonqualified plans 12a See instructions for box 12 Kenneth T Ford Code 13 th Side Avenue 12b Code lphia, PA 19130-6638 14 Other 12c address and ZIP code Code 12d Code Employer's state 10 number 16 State wages, tips, etc 17 state income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality ne Check My Work Allwave eBook Philadelphia, PA 19130-6638 14 Other Employee's address and ZIP code 120 Code 12d Code 15 State N Employer's state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax W-2 Wage and Tax Statement 20- Department of the Treasury - Inter For Privacy Act and Pap Act Notice, see the sepa ZODY A For Social Security Administration - Send this entire page with Form W-3 to the Social Security Administration, photocopies are not acceptable. ource: Internal Revenue Service re OM W For each Form W-2 Box 1: Wages, tips and other compensation - take weekly pay mint 401(k) deduction, then multiply by 52 weeks. Then, if applicable, add annual cost of group term life insurance in excess of $50,000 (given in problem) Box 2. Federal Income Tax withheld - Toke weekly pay minus 401(k) deduction, we appropriate tax table to find weekly Federal Income tax withholding and multiply by 52 paydays For remaining boxes, enter Annual Taxes Withheld given in problem. Check My Work Previous Next > All work saved Save and Ext Submit Assignment for Grading Address: 4800 River Road 00-0-1066 Philadelphia, PA 19113-5548 Telephone number: (215) 555-0017 Fax number: (215) 555-0010 Pennsylvania state Identification number: Federal identification number: Philadelphia Identification number: 00-0000972 0001895 Income Tax Information: The wage-bracket method is used to determine federal Income tax withholding. Calculate the annual federal Income tax withheld by using the weekly wage bracket table and multiply the answer by 52. The other taxes withheld are shown below. Employee Data Payroll Data Annual Taxes Withheld See example of Kelly B. Roach's completed Form W-2 below. Kelly B. Roach Single, 1 allowance Social security tax withheld $2,305.16 54 Gradison Place $715 per week Medicare tax withheld 539.24 Philadelphia, PA 19113-4054 SS#: 000-00-4310 State income tax withheld 1,141.40 Deduction for 401(k) plan: $50/week Local Income tax withheld 1,443.00 State unemployment tax withheld** 22.36 Ralph I. Volpe Married, 1 allowance Social security tax withheld 2,530.84 56 Andrews Court, Apt. 7 $785 per week Medicare tax withheld 591.76 Philadelphia, PA 19103-3356 SS#: 000-00-8804 State income tax withheld 1,253.20 Dependent care payment: $950 Local income tax withheld 1,584.44 $70/week-401(k) State unemployment tax withheld 24.44 Randi A. Myer Single, 0 allowances Social security tax with held 2,853.24 770 Camac Street $885 per week Medicare tax withheld 667.16 Philadelphia, PA 19101-3770 SS#: 000-00-3316 State income tax withheld 1,412.84 Union dues withheld: $102 Local income tax withheld 1,786.20 State unemployment tax withheld 27.56 Kenneth T. Ford Married, 7 allowances Social security tax withheld 4,368.69 hapter 4 Homework eBook State unemployment tax withheld** 27.56 Kenneth T. Ford Married, 7 allowances Social security tax withheld 4,368.69 338 North Side Avenue $1,350 per week Medicare tax withheld 1,021.97 Philadelphia, PA 19130-6638 SS: 000-00-6839 State income tax withheld 2,155.40 Cost of group-term life insurance Local income tax withheld 2,724.28 exceeding $50,000: $262.75* State unemployment tax withhelde 42.12 $100/week-401(k) Chrissy C. Carman Married, 3 allowances Social security tax withheld 2,643.68 4900 Gladwynne Terrace $820 per week Medicare tax withheld 618.28 Philadelphia, PA 19127-0049 SS8: 000-00-5771 State income tax withheld 1,308.84 Union dues withheld: $102 Local income tax withheld 1,654.64 State unemployment tax withheld" 25.48 Hal B. Zuber Single, 1 allowance Social security tax withheld 2,546.96 480-A Hopkinson Tower $790 per week Medicare tax withheld 595.92 Philadelphia, PA 19101-3301 SS#: 000-00-8703 State income tax withheld 1,261.00 Educational assistance payments Local income tax withheld 1,594.32 job-required): $675 $50/week--401(k) State unemployment tax withheld" 24.44 The cost of excess group-term life insurance is added to gross wages for federal income tax, Social Security, and Medicare. Employers withhold of withhold federal income tax. The cost is not added to gross wages for state and local taxes; therefore, it is not subject to those taxes (See Figure 4 **State unemployment tax withheld for Pennsylvania labeled as PA SUI on Form W-2 Box 14. If an amount box does not require an entry, leave it blank. Round your calculations and final answers to the nearest cent. You must employer identification number, etc. eBook ter 4 Homework b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 00-0000972 40,020 X 3 social security wages 2,600 X 4 Social security tax withheld c Employer's name, address, and ZIP code 40,820 5 Medicare wages and tips 2,530.84 6 Medicare tax withheld 40,820 7 591.76 Quigley Corporation 4800 River Road Philadelphia, PA 19113-5548 7 Social security tips 8 Allocated tips O Control number 10 Dependent care benefits 950 12a See instructions for box 12 Employee's first name and initial Last name Sur 11 Nonqualified plans Ralph Volpe Code DV 13 Retirement plan 12 56 Andrews Court, Apt. 7 Code Philadelphia, PA 19103-3356 14 Other 120 Code 0 Employee's address and ZIP code VA SUE 42.12 12d Code o 15 State Employer's state ID number 16 State Wages, tips, etc 17 State income tax 18 Local wages, tips, etc 19 Local income tax 20 Locality name PA 0001895 X 1.253.20 1.500.00 X Phil ber 4 Homework eBook b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 3 Social security wages 4 Social security tax withheld C C Employer's name, address, and ZIP code 5 Medicare wages and tips 6 Medicare tax withheld Quigley Corporation 4800 River Road Philadelphia, PA 19113-5545 7 Social Security tips 8 Allocated tips & Control number 10 Dependent care benefits e Employee's first name and initialast name Sul 11 Nonqualified plans 12a See instructions for box 12 Randi Myer 13 Code 12b Code 770 Camac Street 14 Other Philadelphia, PA 19101-3770 120 Code 12d f Employee's address and ZIP code Code 15 State Employer's state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality name Chapter 4 Homework eBook D Employer identification number (CIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 3 Sedal security wages 4 Social security tax withheld c Employer's name, address, and ZIP code 5 Medicare wages and tips 6 Medicare tax withheld Quigley Corporation 4800 River Road Phradelphia, PA 19113-5546 7 social security tips Allocated tips d Control number 10 Dependent care benefits e Employee's first name and initial Last name Sunt 11 Nonqualified plans 12a See Instructions for box 12 Kenneth T. Ford Code 13 126 338 North Side Avenue Code Philadelphia, PA 19130-6638 14 Other Employee's address and ZIP code 120 Code 120 Code 15 State Employer's state ID number 16 State wages, etc 17 State nome 18 Local wages, etc 20 Locality name 19 Local income tax 15 State 20 Locally rame Employer's Mate ID number 16 State wages, tips, 17 State income 18 Local ages, tips, te 19 Local income tax 20 Form W-2 Wage and Tax Statement Department of the Treasury-Intemal Revenve Service For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions. Cat No. 10130 Copy A For Social Security Administration - Send this entre page with Form W-3 to the Social Security Administration photos are not comptable Source: Internal Revenue Service Trade For each form w-2 Box 1 Wages, tips and other compensation to pay m) deduction, then mutiply by 52 weeks. Then, apicale, ad annual cost of group terme insurance in excess of $50,000 (given in problem Box 2 Federal income Tax with Teekly paymius 401k) deduction, we surpriate tax table to find weekly Federal income tax withholding and multiply by 52 percaya For remaining, enter Awal Taxes giveni problem During the first full week of 20--, the Payroll Department of Quigley Corporation is preparing the Forms W-2 for distribution to its employees along with their payroll checks on January 10. In this problem, you will complete six of the forms in order to gain some experience in recording the different kinds of information required, Assume each employee earned the same weekly salary for each of the 52 paydays in 20--the previous year). Using the following information obtained from the personnel and payroll records of the firm, complete Copy A of the four Forms W-2 reproduced below. On the second half of the problem (PR. 04.13A.PART2) you will complete the other two W-2s and the W-3. The form is to be signed by the president, Kenneth T. Ford, and is prepared by Ralph L. Volpe. Company Information: Address: 4800 River Road Philadelphia, PA 19113-5548 Telephone number: (215) 555-0017 Fax number: (215) 555-0010 Pennsylvania state identification number: Federal identification number: Philadelphia identification number: 00-0-1066 00-0000972 0001895 Income Tax Information: The wage-bracket method is used to determine federal Income tax withholding. Caleulate the annual federal Income tax withheld by using the weekly wage bracket table and multiply the answer by 52. The other taxes withheld are shown below Employee Data Payroll Data Annual Taxes Withheld See example of Kelly B. Roach's completed Form W-2 below. Kelly B. Roach Single, 1 allowance Social security tax withheld $2,305.16 54 Gradison Place $215 per week Medicare tax withheld 539.24 Philadelphia, PA 19113-4054 SSE: 000-00-4310 State income tax withheld 1,141,40 Deduction for 401(k) plan: $50/week Local income tax withheld 1,443.00 State unemployment tax withheld 22.36 Ralph 1 Volpe Married, 1 allowance Social security tax withheld 2,530.84 56 Andrews Court, Apt. 7 $785 per week Medicare tax withheld 591.76 Philadelphia, PA 19103-3356 SS: 000-00-8804 State income tax withheld 1,253,20 Dependent care payment: $950 Local income tax withheld 1,584.44 $70/week-401(6) State unemployment tax withheld" 24.44 Randi A. Myer Single, 0 allowances Social security tax withheld 2,853.24 770 Camac Street $885 per week Medicare tax withheld 667 16 Philadelphia, PA 19101-3770 SS: 000-00-3316 State income tax withheld 1,412.84 Union dues withheld: $102 Local income tax withheld 1,786.20 State unemployment tax withheld" 27.56 Kenneth T. Ford Married, 7 allowances Social security tax withheld 4,368,69 338 North Side Avenue $1,350 per week Medicare tax withheld 1,021.97 Philadelphia, PA 19130-6638 SS#: 000-00-6839 State income tax withheld 2,155.40 Cost of group-term life insurance Local income tax withheld 2,724.28 exceeding $50,000: $262.75 State unemployment tax withhelde 42.12 $100/week--401(K) Chrissy C. Carman Married, 3 allowances Social security tax withheld 2,643.68 4900 Gladwynne Terrace $820 per week Medicare tax withheld 618.28 Philadelphia, PA 19127-0049 SS: 000-00-5771 State income tax withheld 1,308.84 I Union dues withheld: $102 Local income tax withheld 1,654.64 State unemployment tax withheld 25.48 Hal B. Zuber Single, 1 allowance Social security tax withheld 2,546.96 480-A Hopkinson Tower $790 per week Medicare tax withheld 595.92 Philadelphia, PA 19101-3301 SS#: 000-00-8703 State income tax withheld 1,261.00 Educational assistance payments Local income tax withheld 1,594.32 job-required): $675 $50/week- 401(k) State unemployment tax withheld 24.44 *The cost of excess group-term life insurance is added to gross wapes for federal income tax, Social Security, and Medicare. Employers withhold OASDI and Ht tax on these amounts but are not required to withhold federal income tax. The cost is not added to gross wages for state and local taxes, therefore, it is not subject to those taxes (See Figure 4.8) *state unemployment tax withheld for Pennsylvania labeled as PA SUI on Form W-2 Box 14. If an amount box does not require an entry, leave it blank. Round your calculations and final answers to the nearest cent. You must enter in the hyphens in the social security numbers, employer identification number, etc. eBook dentification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 00-0000972 40,820 X 3 Social security wages 2,600 x 4 Social security tax withheld name, address, and ZIP code 2,530.84 40,820 5 Medicare wages and tips 6 Medicare tax withheld Corporation ver Road phia, PA 19113-5548 591.76 40,820 7 Social security tips 8 Allocated tips 0 Imber 10 Dependent care benefits 950 first name and initial Last name Sufr 11 Nonqualified plans 12a See Instructions for box 12 Ralph Volpe Code D ox 13 Retirement plan ews Court, Apt. 7 07 phia, PA 19103-3356 14 Other 12b Code 120 Code 120 O address and ZIP code PA SUI 42.12 Code Employer's state ID number 16 State Wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality 0001895 x 1,253.20 1,588.08 x Phili Check My Work Previous Next > COUN Identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 3 Social security wages s name, address, and ZIP code 4 Social security tax withheld 5 Medicare wages and tips 6 Medicare tax withheld y Corporation ver Road phia, PA 19113-5548 7 Sodal security tips 8 Allocated tips ber 10 Dependent care benefits 's first name and initial Last name Suff 11 Nonqualified plans 12a See instructions for box 12 Randi A Myer 13 Code 125 mac Street 14 Other elphia, PA 19101-3770 Code 120 Code 12d Code saddress and ZIP code Employer's state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality eBook identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld name, address, and ZIP code 3 Social security wages 4 Social security tax withheld 5 Medicare wages and tips 6 Medicare tax withheld Corporation ver Road phia, PA 19113-5548 7 Social security tips 8 Allocated tips mber 10 Dependent care benefits s first name and initial Last name Suf 11 Nonqualified plans 12a See instructions for box 12 Kenneth T Ford Code 13 th Side Avenue 12b Code lphia, PA 19130-6638 14 Other 12c address and ZIP code Code 12d Code Employer's state 10 number 16 State wages, tips, etc 17 state income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality ne Check My Work Allwave eBook Philadelphia, PA 19130-6638 14 Other Employee's address and ZIP code 120 Code 12d Code 15 State N Employer's state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax W-2 Wage and Tax Statement 20- Department of the Treasury - Inter For Privacy Act and Pap Act Notice, see the sepa ZODY A For Social Security Administration - Send this entire page with Form W-3 to the Social Security Administration, photocopies are not acceptable. ource: Internal Revenue Service re OM W For each Form W-2 Box 1: Wages, tips and other compensation - take weekly pay mint 401(k) deduction, then multiply by 52 weeks. Then, if applicable, add annual cost of group term life insurance in excess of $50,000 (given in problem) Box 2. Federal Income Tax withheld - Toke weekly pay minus 401(k) deduction, we appropriate tax table to find weekly Federal Income tax withholding and multiply by 52 paydays For remaining boxes, enter Annual Taxes Withheld given in problem. Check My Work Previous Next > All work saved Save and Ext Submit Assignment for Grading Address: 4800 River Road 00-0-1066 Philadelphia, PA 19113-5548 Telephone number: (215) 555-0017 Fax number: (215) 555-0010 Pennsylvania state Identification number: Federal identification number: Philadelphia Identification number: 00-0000972 0001895 Income Tax Information: The wage-bracket method is used to determine federal Income tax withholding. Calculate the annual federal Income tax withheld by using the weekly wage bracket table and multiply the answer by 52. The other taxes withheld are shown below. Employee Data Payroll Data Annual Taxes Withheld See example of Kelly B. Roach's completed Form W-2 below. Kelly B. Roach Single, 1 allowance Social security tax withheld $2,305.16 54 Gradison Place $715 per week Medicare tax withheld 539.24 Philadelphia, PA 19113-4054 SS#: 000-00-4310 State income tax withheld 1,141.40 Deduction for 401(k) plan: $50/week Local Income tax withheld 1,443.00 State unemployment tax withheld** 22.36 Ralph I. Volpe Married, 1 allowance Social security tax withheld 2,530.84 56 Andrews Court, Apt. 7 $785 per week Medicare tax withheld 591.76 Philadelphia, PA 19103-3356 SS#: 000-00-8804 State income tax withheld 1,253.20 Dependent care payment: $950 Local income tax withheld 1,584.44 $70/week-401(k) State unemployment tax withheld 24.44 Randi A. Myer Single, 0 allowances Social security tax with held 2,853.24 770 Camac Street $885 per week Medicare tax withheld 667.16 Philadelphia, PA 19101-3770 SS#: 000-00-3316 State income tax withheld 1,412.84 Union dues withheld: $102 Local income tax withheld 1,786.20 State unemployment tax withheld 27.56 Kenneth T. Ford Married, 7 allowances Social security tax withheld 4,368.69 hapter 4 Homework eBook State unemployment tax withheld** 27.56 Kenneth T. Ford Married, 7 allowances Social security tax withheld 4,368.69 338 North Side Avenue $1,350 per week Medicare tax withheld 1,021.97 Philadelphia, PA 19130-6638 SS: 000-00-6839 State income tax withheld 2,155.40 Cost of group-term life insurance Local income tax withheld 2,724.28 exceeding $50,000: $262.75* State unemployment tax withhelde 42.12 $100/week-401(k) Chrissy C. Carman Married, 3 allowances Social security tax withheld 2,643.68 4900 Gladwynne Terrace $820 per week Medicare tax withheld 618.28 Philadelphia, PA 19127-0049 SS8: 000-00-5771 State income tax withheld 1,308.84 Union dues withheld: $102 Local income tax withheld 1,654.64 State unemployment tax withheld" 25.48 Hal B. Zuber Single, 1 allowance Social security tax withheld 2,546.96 480-A Hopkinson Tower $790 per week Medicare tax withheld 595.92 Philadelphia, PA 19101-3301 SS#: 000-00-8703 State income tax withheld 1,261.00 Educational assistance payments Local income tax withheld 1,594.32 job-required): $675 $50/week--401(k) State unemployment tax withheld" 24.44 The cost of excess group-term life insurance is added to gross wages for federal income tax, Social Security, and Medicare. Employers withhold of withhold federal income tax. The cost is not added to gross wages for state and local taxes; therefore, it is not subject to those taxes (See Figure 4 **State unemployment tax withheld for Pennsylvania labeled as PA SUI on Form W-2 Box 14. If an amount box does not require an entry, leave it blank. Round your calculations and final answers to the nearest cent. You must employer identification number, etc. eBook ter 4 Homework b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 00-0000972 40,020 X 3 social security wages 2,600 X 4 Social security tax withheld c Employer's name, address, and ZIP code 40,820 5 Medicare wages and tips 2,530.84 6 Medicare tax withheld 40,820 7 591.76 Quigley Corporation 4800 River Road Philadelphia, PA 19113-5548 7 Social security tips 8 Allocated tips O Control number 10 Dependent care benefits 950 12a See instructions for box 12 Employee's first name and initial Last name Sur 11 Nonqualified plans Ralph Volpe Code DV 13 Retirement plan 12 56 Andrews Court, Apt. 7 Code Philadelphia, PA 19103-3356 14 Other 120 Code 0 Employee's address and ZIP code VA SUE 42.12 12d Code o 15 State Employer's state ID number 16 State Wages, tips, etc 17 State income tax 18 Local wages, tips, etc 19 Local income tax 20 Locality name PA 0001895 X 1.253.20 1.500.00 X Phil ber 4 Homework eBook b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 3 Social security wages 4 Social security tax withheld C C Employer's name, address, and ZIP code 5 Medicare wages and tips 6 Medicare tax withheld Quigley Corporation 4800 River Road Philadelphia, PA 19113-5545 7 Social Security tips 8 Allocated tips & Control number 10 Dependent care benefits e Employee's first name and initialast name Sul 11 Nonqualified plans 12a See instructions for box 12 Randi Myer 13 Code 12b Code 770 Camac Street 14 Other Philadelphia, PA 19101-3770 120 Code 12d f Employee's address and ZIP code Code 15 State Employer's state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality name Chapter 4 Homework eBook D Employer identification number (CIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 3 Sedal security wages 4 Social security tax withheld c Employer's name, address, and ZIP code 5 Medicare wages and tips 6 Medicare tax withheld Quigley Corporation 4800 River Road Phradelphia, PA 19113-5546 7 social security tips Allocated tips d Control number 10 Dependent care benefits e Employee's first name and initial Last name Sunt 11 Nonqualified plans 12a See Instructions for box 12 Kenneth T. Ford Code 13 126 338 North Side Avenue Code Philadelphia, PA 19130-6638 14 Other Employee's address and ZIP code 120 Code 120 Code 15 State Employer's state ID number 16 State wages, etc 17 State nome 18 Local wages, etc 20 Locality name 19 Local income tax 15 State 20 Locally rame Employer's Mate ID number 16 State wages, tips, 17 State income 18 Local ages, tips, te 19 Local income tax 20 Form W-2 Wage and Tax Statement Department of the Treasury-Intemal Revenve Service For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions. Cat No. 10130 Copy A For Social Security Administration - Send this entre page with Form W-3 to the Social Security Administration photos are not comptable Source: Internal Revenue Service Trade For each form w-2 Box 1 Wages, tips and other compensation to pay m) deduction, then mutiply by 52 weeks. Then, apicale, ad annual cost of group terme insurance in excess of $50,000 (given in problem Box 2 Federal income Tax with Teekly paymius 401k) deduction, we surpriate tax table to find weekly Federal income tax withholding and multiply by 52 percaya For remaining, enter Awal Taxes giveni

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

Corporate Accounting Vol 1

Authors: Dr S. Kr. Paul, Prof. Chandrani Paul

1st Edition

164725146X, 9781647251468

More Books

Students also viewed these Accounting questions