Question
Hello, I need help with this question.. Thank you Wage and Tax Statement Project During the first full week of 2017, the Payroll Department of
Hello,
I need help with this question.. Thank you
Wage and Tax Statement Project
During the first full week of 2017, the Payroll Department of Quigley Corporation is preparing the Forms W-2 for distribution to its employees along with their payroll checks on January 6. 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 2016. Using the following information obtained from the personnel and payroll records of the firm, complete Copy A of the six Forms W-2. Also complete Form W-3. The form is to be signed by the president, Kenneth T. Ford, and is prepared by Ralph I. 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: | 00-0-1066 |
Federal identification number: | 00-0000972 |
Philadelphia identification number: | 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. Taxable income for state and local taxes is not reduced by 401k contributions.
Employee Data | Payroll Data | Annual Taxes Withheld | |
Kelly B. Roach | Single, 1 allowance | Social security | 2,305.16 |
54 Gradison Place | Wages: $715 per week | Medicare | 539.24 |
Philadelphia, PA | SSN: 000-00-4310 | State income tax | 1,141.40 |
19113-4054 | 401k: $50 per week | Local income tax | 1,457.56 |
Employee Data | Payroll Data | Annual Taxes Withheld | |
Ralph I. Volpe | Married, 1 allowance | Social security | 2,530.84 |
56 Andrews Court, Apt. 7 | Wages: $785 per week | Medicare | 591.76 |
Philadelphia, PA | SSN: 000-00-8804 | State income tax | 1,253.20 |
19103-3356 | 401k: $70 per week | Local income tax | 1,600.04 |
Dependent care: $950 |
Employee Data | Payroll Data | Annual Taxes Withheld | |
Randi A. Myer | Single, 0 allowances | Social security | 2,853.24 |
770 Camac Street | Wages: $885 per week | Medicare | 667.16 |
Philadelphia, PA | SSN: 000-00-3316 | State income tax | 1,412.84 |
19101-3770 | Union dues: $102 | Local income tax | 1,803.88 |
Employee Data | Payroll Data | Annual Taxes Withheld | |
Kenneth T. Ford | Married, 7 allowances | Social security | 4,368.69 |
338 North Side Avenue | Wages: $1,350 per week | Medicare | 1,021.97 |
Philadelphia, PA | SSN: 000-00-6839 | State income tax | 2,155.40 |
19130-6638 | 401k: $100 per week | Local income tax | 2,751.84 |
Cost of group life insurance exceeding $50,000: $262.75 | |||
No income tax withheld on insurance cost, but FICA taxes are withheld. |
Employee Data | Payroll Data | Annual Taxes Withheld | |
Chrissy C. Carman | Married, 3 allowances | Social security | 2,643.68 |
4900 Gladwynne Terrace | Wages: $820 per week | Medicare | 618.28 |
Philadelphia, PA | SSN: 000-00-5771 | State income tax | 1,308.84 |
19127-0049 | Union dues: $102 | Local income tax | 1,671.28 |
Employee Data | Payroll Data | Annual Taxes Withheld | |
Hal B. Zuber | Single, 1 allowance | Social security | 2,546.96 |
480-A Hopkinson Tower | Wages: $790 per week | Medicare | 595.92 |
Philadelphia, PA | SSN: 000-00-8703 | State income tax | 1,261.00 |
19101-3301 | 401k: $50 per week | Local income tax | 1,610.44 |
Educational assistance payments (job-required): $675 |
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