I need help with question 2.
Establish and complete the payroll register for each weekly pay period during December. When calculating federal income tax withholding, use the withholding tables where possible, and refer to the percentage method only when necessary. Note that as of December 8, Hunter Cranston requests that his federal withholding allowances increased from two to three (Ellipses Corp. makes this change). Additionally, for simplicity, calculate the state income tax withholding as 5% of each employee's taxable pay (which is the same as taxable pay for FWT). Recall that state income tax withholding would ordinarily be calculated using the applicable state's withholding tables. 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. The first payroll check written in December is check #762.
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 completion of these records for the two employees who are compensated via an hourly wage.
Please try to use the template that I provided.
Payroll Accounting Chapter 7: Comprehensive Projects Paper-Based versions One-Month Project exercise Files download TE! Templates needed to complete these exercises are included in the Student Express for this course. at 10 Period Lane, its president, who signs h to name a third-party Ellipses Corp. is a small business that operates in Herndon, VA. The company is located at 10 Po Herndon, VA 20170. Its federal Employer Identification Number is 77-7777777, and its precia all tax forms, is John Parker (telephone #571-555-0073). The company does not wish to name designee on forms. During 2018 four individuals are employed by Ellipses Corp. These employees are as follows. Social Security # Federal W/H Allowances State W/H Allowances Marital Status Name Address Hunter Cranston 111-11-1111 Married 85 Southern Road Herndon, VA 20170 Allison Harrison 777-77-7777 Married 203A Pine Court Herndon, VA 20170 John Parker 444-44-4444 Single 212 Tradition Lane Herndon, VA 20170 Pierre Sternberg 333-33-3333 2 Married 41 Seward Boulevard Herndon, VA 20170 Note that Pierre Sternberg was hired in November, and his first day of work was Monday, November 26. Additionally, due to an economic downturn, Allison Harrison was laid off in mid-December, with her last day of work on Friday, December 14. 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 Friday for the current 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. Earnings and voluntary deduction information for each of the four employees is as follows. Name Regular Wage Rate Annual Salary Weekly 401(k) Deduction Weekly Charitable Contribution Hunter Cranston $15/hour N/A 6% of gross pay $5 Allison Harrison $23/hour N/A $5 John Parker N/A 5% of gross pay N/A $203,000.20 $20 Pierre Sternberg N/A $112,000.20 1% of gross pay N/A 11 months of the year h 2018. Please note that no p 12/31/2017 instead). vroll data for each of the have passed, and all payroll-related activity has been properly accounted for as navchecks were distributed on 1/1/2018 (as these checks were written and ad), resulting in the distribution of checks on 13 pay dates during the first of the four employees for the first three quarters of the year, as well as for the One-Month Project 227 The first 17 m 11/30/2018 istributed on 12 quarter. Payroll download er and November, is as follows. onths of October and ane, o signs unter Cranston party Gross Earnings Federal Income Tax State Income Tax Period $7,800 $234 Social Security Tax $483.60 $366.60 ist quarter $7,800 $234 $366.60 Medicare 401(k) Tax Deduction $113.10 $468 $113.10 $113.10 Charitable Cont. and quarter $7,800 $234 $483.60 3rd quarter $366.60 565 S483.60 $468 $2,400 $72 $112.80 $65 October $148.80 $468 $3,000 $90 $65 $34.80 $141 November S144 $186 $20 $43.50 $180 $25 Allison Harrison Gross Sarnings Federal Income Tax State Income Tax Period Social Security Tax Medicare Taxi 401(k) Deduction Charitable Cont. 1st quarter $11,960 $429 $568.10 $741.52 $173.42 $598 $11,960 2nd quarter $429 $65 $568.10 $741.52 $173.42 $598 $65 3rd quarter $11,960 $429 $568.10 ny of $741.52 $173.42 $598 $65 October $3,680 $132 $174.80 $228.16 $53.36 $184 November $4,600 $165 $218.50 $285.20 $66.70 $230 John Parker Gross ngs Period Charitable Cont. Federal Income Tax State Income Tax Medicare 401(k) Tax Deduction Social Security Tax $260 $735.93 ist quarter $50,750.05 $11,035.18 $2,537.47 $3,146.52 $260 $735.93 2nd quarter $3,146.52 $50,750.05 $2,537.47 $11,035.18 $260 $735.93 3rd quarter $50,750.05 $1,667.76 $2,537.47 $11,035.18 $80 $226.44 October $0 $780.76 $15,615.40 $100 $3,395.44 $283.05 November $0 $19,519.25 $4,244.30 $975.95 220 Payroll Accounting Chapter 7: Comprehensive Projects-Paper-Based Versions Pierre Sternberg 401(k) 401(k) Federal Income Tax Social Security Tax Medicare Tax State Income Tax Period Gross Earnings $0 Charitable Deduction Cont. 1st quarter $0 So $0 2nd quarter $0 $0 $0 so $0 $0 $0 $0 so $0 $0 $133.54 3rd quarter October $0 $0 $0 $0 $0 November $2,153.85 $228.94 $106.62 $31.23 $21.54 Note that all tax payments and filings are made on the due date. Based on the data provided here, you will complete the following: 1. Establish an employee earnings record for each of the company's four employees. Complete the top portion of each record 2. Establish and complete the payroll register for each weekly pay period during December. When calculating federal income tax withholding, use the withholding tables where possible, and refer to the percentage method only when necessary. Note that as of December 8, Hunter Cranston requests that his federal withholding allowances increase from two to three (Ellipses Corp. makes this change). Additionally, for simplicity, calculate the state income tax withholding as 5% of each employee's taxable pay (which is the same as taxable pay for FWT). Recall that state income tax withholding would ordinarily be calculated using the applicable state's withholding tables. 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. The first payroll check written in December is check #762. 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 completion of these records for the two employees who are compensated via an hourly wage. Weekly Hours Worked Weekly Start Date Hunter Cranston Allison Harrison December 1 40 31 December 8 38 December 15 43.5 December 22 40 WARNING! The above dates are weekly start dates. Refer to a calendar to determine the end dates and associated pay dates. Keep in mind that tax liability and payment amounts are determined based on the weekly pay dates. 3. Complete the employee earnings records for December for each of the four employees. Divide the voi deductions from the payroll register appropriately across the associated columns within the employee records. If directed to do so by your instructor, record the necessary journal entries for each pay perc Payroll Register Pay Period Pay Date Regular Regular Hours | Rate Earnings Regular Overtime Overtime Overtime Earnings Hours Rate Earnings Total Earnings Deductions Social Security FWT SWT Medicare Vol. With. Check Number Net Pay Employee Name Cranston, H Harrison, A Parker, Sternberg, P Totals Payroll Accounting Chapter 7: Comprehensive Projects Paper-Based versions One-Month Project exercise Files download TE! Templates needed to complete these exercises are included in the Student Express for this course. at 10 Period Lane, its president, who signs h to name a third-party Ellipses Corp. is a small business that operates in Herndon, VA. The company is located at 10 Po Herndon, VA 20170. Its federal Employer Identification Number is 77-7777777, and its precia all tax forms, is John Parker (telephone #571-555-0073). The company does not wish to name designee on forms. During 2018 four individuals are employed by Ellipses Corp. These employees are as follows. Social Security # Federal W/H Allowances State W/H Allowances Marital Status Name Address Hunter Cranston 111-11-1111 Married 85 Southern Road Herndon, VA 20170 Allison Harrison 777-77-7777 Married 203A Pine Court Herndon, VA 20170 John Parker 444-44-4444 Single 212 Tradition Lane Herndon, VA 20170 Pierre Sternberg 333-33-3333 2 Married 41 Seward Boulevard Herndon, VA 20170 Note that Pierre Sternberg was hired in November, and his first day of work was Monday, November 26. Additionally, due to an economic downturn, Allison Harrison was laid off in mid-December, with her last day of work on Friday, December 14. 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 Friday for the current 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. Earnings and voluntary deduction information for each of the four employees is as follows. Name Regular Wage Rate Annual Salary Weekly 401(k) Deduction Weekly Charitable Contribution Hunter Cranston $15/hour N/A 6% of gross pay $5 Allison Harrison $23/hour N/A $5 John Parker N/A 5% of gross pay N/A $203,000.20 $20 Pierre Sternberg N/A $112,000.20 1% of gross pay N/A 11 months of the year h 2018. Please note that no p 12/31/2017 instead). vroll data for each of the have passed, and all payroll-related activity has been properly accounted for as navchecks were distributed on 1/1/2018 (as these checks were written and ad), resulting in the distribution of checks on 13 pay dates during the first of the four employees for the first three quarters of the year, as well as for the One-Month Project 227 The first 17 m 11/30/2018 istributed on 12 quarter. Payroll download er and November, is as follows. onths of October and ane, o signs unter Cranston party Gross Earnings Federal Income Tax State Income Tax Period $7,800 $234 Social Security Tax $483.60 $366.60 ist quarter $7,800 $234 $366.60 Medicare 401(k) Tax Deduction $113.10 $468 $113.10 $113.10 Charitable Cont. and quarter $7,800 $234 $483.60 3rd quarter $366.60 565 S483.60 $468 $2,400 $72 $112.80 $65 October $148.80 $468 $3,000 $90 $65 $34.80 $141 November S144 $186 $20 $43.50 $180 $25 Allison Harrison Gross Sarnings Federal Income Tax State Income Tax Period Social Security Tax Medicare Taxi 401(k) Deduction Charitable Cont. 1st quarter $11,960 $429 $568.10 $741.52 $173.42 $598 $11,960 2nd quarter $429 $65 $568.10 $741.52 $173.42 $598 $65 3rd quarter $11,960 $429 $568.10 ny of $741.52 $173.42 $598 $65 October $3,680 $132 $174.80 $228.16 $53.36 $184 November $4,600 $165 $218.50 $285.20 $66.70 $230 John Parker Gross ngs Period Charitable Cont. Federal Income Tax State Income Tax Medicare 401(k) Tax Deduction Social Security Tax $260 $735.93 ist quarter $50,750.05 $11,035.18 $2,537.47 $3,146.52 $260 $735.93 2nd quarter $3,146.52 $50,750.05 $2,537.47 $11,035.18 $260 $735.93 3rd quarter $50,750.05 $1,667.76 $2,537.47 $11,035.18 $80 $226.44 October $0 $780.76 $15,615.40 $100 $3,395.44 $283.05 November $0 $19,519.25 $4,244.30 $975.95 220 Payroll Accounting Chapter 7: Comprehensive Projects-Paper-Based Versions Pierre Sternberg 401(k) 401(k) Federal Income Tax Social Security Tax Medicare Tax State Income Tax Period Gross Earnings $0 Charitable Deduction Cont. 1st quarter $0 So $0 2nd quarter $0 $0 $0 so $0 $0 $0 $0 so $0 $0 $133.54 3rd quarter October $0 $0 $0 $0 $0 November $2,153.85 $228.94 $106.62 $31.23 $21.54 Note that all tax payments and filings are made on the due date. Based on the data provided here, you will complete the following: 1. Establish an employee earnings record for each of the company's four employees. Complete the top portion of each record 2. Establish and complete the payroll register for each weekly pay period during December. When calculating federal income tax withholding, use the withholding tables where possible, and refer to the percentage method only when necessary. Note that as of December 8, Hunter Cranston requests that his federal withholding allowances increase from two to three (Ellipses Corp. makes this change). Additionally, for simplicity, calculate the state income tax withholding as 5% of each employee's taxable pay (which is the same as taxable pay for FWT). Recall that state income tax withholding would ordinarily be calculated using the applicable state's withholding tables. 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. The first payroll check written in December is check #762. 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 completion of these records for the two employees who are compensated via an hourly wage. Weekly Hours Worked Weekly Start Date Hunter Cranston Allison Harrison December 1 40 31 December 8 38 December 15 43.5 December 22 40 WARNING! The above dates are weekly start dates. Refer to a calendar to determine the end dates and associated pay dates. Keep in mind that tax liability and payment amounts are determined based on the weekly pay dates. 3. Complete the employee earnings records for December for each of the four employees. Divide the voi deductions from the payroll register appropriately across the associated columns within the employee records. If directed to do so by your instructor, record the necessary journal entries for each pay perc Payroll Register Pay Period Pay Date Regular Regular Hours | Rate Earnings Regular Overtime Overtime Overtime Earnings Hours Rate Earnings Total Earnings Deductions Social Security FWT SWT Medicare Vol. With. Check Number Net Pay Employee Name Cranston, H Harrison, A Parker, Sternberg, P Totals
