GENERAL JOURNAL DEC 15 WAYLAND CUSTOM WOODWORKING

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 12850 Old Highway 50, Glenbrook, Nevada, 89413, phone number 775-555-9877. The owner is Mark Wayland. Waylands EIN is 91-7444533, and the Nevada Employer Account Number is E6462582020-6. Wayland has determined it will pay its employees on a semimonthly basis. Federal income tax should be computed using the percentage method.

For Part 1 of this project, you will complete payroll for the last month (December) of the fourth quarter (Q4) of 2021, which consists of the final pay periods of the year. Once payroll has been completed for the fourth quarter, you will then file the annual tax forms for Wayland as well as prepare each employee's Form W-2 in Part 2.

Rounding can create a challenge. For this project, the hourly rate for the individuals should be rounded to five decimal places. Take the employee's salary and divide it by 2,080 (52 weeks at 40 hours per week) for full-time, nonexempt employees. NOTE: Leave the hourly rate rounded to 5 decimal places as shown in this example. After the gross pay has been calculated, then round the result to two decimal points prior to calculating taxes or other withholdings.

Employees are paid for the following holidays occurring during the final quarter:

• Thanksgiving day and the day after, Thursday and Friday, November 25-26.
• Christmas is on Saturday. Employees receive holiday pay for Friday, December 24.

Employees' 401(k) and insurance are pre-tax for federal income tax. The SUTA (UI) rate for Wayland Custom Woodworking is 3.25% on the first $33,400 of employee wages. There is an additional 0.05% for Career Enhancement Program (CEP). Both FUTA and SUTA have a deduction for section 125 but not for 401(k) contributions by the employee. The same is applicable for the calculation of Career Enhancement Program (CEP). Employer contribution of section 125 is 1.5 times the employee portion and should be added to wages for completion of FUTA and SUTA forms. For federal tax withholding calculations, use the percentage method tables for manual payroll systems with Forms W-4 from 2021 or later. Assume, all W-4s are received in 2021 and the Step 2 of Form W-4 is not checked.

Required:

2. Complete the payroll process for Wayland Custom Woodworking's last two pay periods of the fourth quarter. Please note that you must carry the ending balance from each account in the December 15 General Ledger to the following period's General Ledger to the input boxes titled "Ending account balance from the prior period" before posting the payroll journal entries from the current period to the Ledger.

No employee has additional information in Step 4 of their W-4s, all W-4s were received in 2021, no box 2c has been checked.

December 15

December 15 is the end of the first pay period for the month of December. Employee pay will be disbursed on December 20, 2021. Remember that the employees are paid on a semimonthly basis.

I NEED HELP WITH THESE 3 GENERAL JOURNALS

ANSWER MUST BE IN TABLE FORMAT!!

\begin{tabular}{rcccccc} & & \multicolumn{5}{c}{ December 2021} \\ Sunday & Monday & Tuesday & Wednesday & Thursday & Friday & Saturday \\ 5 & & & 1 & 2 & 3 & 4 \\ 12 & 13 & 7 & 8 & 9 & 10 & 11 \\ 19 & 20 & 14 & 15 & 16 & 17 & 18 \\ 26 & 27 & 28 & 22 & 23 & 24 & 25 \\ & 27 & 29 & 30 & 31 & \end{tabular} Record the entry for employee semimonthly payroll expenses for the period ending on December 15 . Note: Enter debits before credits. October 1: Wayland Custom Woodworking (WCW) pays its employees according to their job classification. The following employees comprise Wayland's staff: Record the entry for employer semimonthly payroll taxes for the period ending on December 15. Note: Enter debits before credits. Student Success. Your address is 16 Kelly Circle \#2, Glenbrook, NV 89413. Your phone number is 775-556-1211, you were born July 16, 1985, your Nevada driver's license number is 168575381944 expiring on your birthday in 2024, and your Social Security number is 555-55-5555. You are nonexempt and paid at a rate of $42,000 per year as an accounting clerk. The balance sheet for WCW as of November 30, 2021, is as follows: Voluntary deductions for each employee are as follows: Journal entry worksheet Record the entry for payment of semimonthly employee wages for the period ending on December 15. Note: Enter debits before credits