PAYROLL REGISTER DEC 31 WAYLAND WOODWORKING

I JUST NEED THE PAYROLL REGISTER FOR THE DECEMBER 31 PERIOD.

MUST BE IN TABLE FORMAT! THANK YOU!

You have been hired as of October 1 as the new accounting clerk. Your employee number is 00-SUCCE. Your name is 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: December 31 The final pay period of the year will not be paid to employees until January 4,2022 . The company will accrue the wages for the final pay period only. Because the pay period is complete, there will not be a reversing entry for the accrual. As a result, paychecks will not be issued for this pay period since they will be paid in the following year and reflected on the Employee Earning Record forms for each employee when paid. The remainder of the employer liability will be paid with the final filing for the year. The company pays for Christmas Eve and the day of Christmas for 2020 . Employees will be paid for both Thursday and Friday as holiday pay. Standard time for the pay period was 96 hours, but employees worked extra hours on Saturday 12/26. Reminder, holidays and vacations are not included as hours worked for calculation of overtime. For additional instructions on how to navigate and work through through Part 1 of this project, please download the student project guide here. Pay Periods 12/15 and 12/31 ( 2 periods) (Static) 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 nput boxes titled "Ending account balance from the prior period" before posting the payroll journal entries from the current period to he Ledger. Eor additional instructions on how to carry information from one pay period General Ledger to another, along with a guided valkthrough example of this process, refer to the project user guide in the project information section above. Complete the payroll register for the December 31 pay period. (Round your answers to 2 decimal places.) For the completion of this project, refer to the tax-related information in the table below. 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. Federal Unemployment Rate (employer only)(less Section 125) 0.6% on the first $7,000 of wages Semimonthly Federal Percentage Method for Manual Payrolls with Forms W-4 from 2020 or later Tax Table State Unemployment Rate (employer only)(less Section 125) 3.25% on the first $33,400 of wages Nevada Career Enhancement Program (employer only) (less 0.05% on the first $33,400 of wages Section 125) Appendix C 3.25% on the first $33,400 of wages 0.05% on the first $33,400 of wages October 1: Wayland Custom Woodworking (WCW) pays its employees according to their job classification. The following employees comprise Wayland's staff: 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. Wayland's 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. Example: Annual Salary to Hourly Rate, Nonexempt Employee Employee Cooper's annual salary is $62,000, and he is a nonexempt employee. Hourly rate =$62,000/(5240)=$62,000/2,080 Hourly rate =$29.80769 per hour Example: Period Gross Pay, Salaried Employee Employee Chinson earns an annual salary of $48,000 and is paid semimonthly. Period gross pay =$48,000/24=$2,000 gross pay For pay periods with holiday hours: determine the amount paid per day, multiply by the number of days applicable to each pay period. Annual salary: $48,000/(525)=$48,000/260=$184.61538 (rounded to 5 decimal points) per day. Once you have the holiday pay, subtract it from their salary for the period for regular time. After the gross pay has been calculated, round the result to only 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. You have been hired as of October 1 as the new accounting clerk. Your employee number is 00-SUCCE. Your name is 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: December 31 The final pay period of the year will not be paid to employees until January 4,2022 . The company will accrue the wages for the final pay period only. Because the pay period is complete, there will not be a reversing entry for the accrual. As a result, paychecks will not be issued for this pay period since they will be paid in the following year and reflected on the Employee Earning Record forms for each employee when paid. The remainder of the employer liability will be paid with the final filing for the year. The company pays for Christmas Eve and the day of Christmas for 2020 . Employees will be paid for both Thursday and Friday as holiday pay. Standard time for the pay period was 96 hours, but employees worked extra hours on Saturday 12/26. Reminder, holidays and vacations are not included as hours worked for calculation of overtime. For additional instructions on how to navigate and work through through Part 1 of this project, please download the student project guide here. Pay Periods 12/15 and 12/31 ( 2 periods) (Static) 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 nput boxes titled "Ending account balance from the prior period" before posting the payroll journal entries from the current period to he Ledger. Eor additional instructions on how to carry information from one pay period General Ledger to another, along with a guided valkthrough example of this process, refer to the project user guide in the project information section above. Complete the payroll register for the December 31 pay period. (Round your answers to 2 decimal places.) For the completion of this project, refer to the tax-related information in the table below. 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. Federal Unemployment Rate (employer only)(less Section 125) 0.6% on the first $7,000 of wages Semimonthly Federal Percentage Method for Manual Payrolls with Forms W-4 from 2020 or later Tax Table State Unemployment Rate (employer only)(less Section 125) 3.25% on the first $33,400 of wages Nevada Career Enhancement Program (employer only) (less 0.05% on the first $33,400 of wages Section 125) Appendix C 3.25% on the first $33,400 of wages 0.05% on the first $33,400 of wages October 1: Wayland Custom Woodworking (WCW) pays its employees according to their job classification. The following employees comprise Wayland's staff: 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. Wayland's 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. Example: Annual Salary to Hourly Rate, Nonexempt Employee Employee Cooper's annual salary is $62,000, and he is a nonexempt employee. Hourly rate =$62,000/(5240)=$62,000/2,080 Hourly rate =$29.80769 per hour Example: Period Gross Pay, Salaried Employee Employee Chinson earns an annual salary of $48,000 and is paid semimonthly. Period gross pay =$48,000/24=$2,000 gross pay For pay periods with holiday hours: determine the amount paid per day, multiply by the number of days applicable to each pay period. Annual salary: $48,000/(525)=$48,000/260=$184.61538 (rounded to 5 decimal points) per day. Once you have the holiday pay, subtract it from their salary for the period for regular time. After the gross pay has been calculated, round the result to only 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