Please answer the 8th question and show all steps and how to calculate. Thank you.

One-Month Project NOTE! Templates needed to complete these exercises are included in the Student Exercise Files download for this course. Ellipes Corp. is a small business that operates in Hemdon, VA. The company is located at 10 Period Lane, Herndon, VA 20170. Its federal Employer Identification Number is 77-7777777, and its president, who signs all tax forms, is John Parker (telephone +371-355-0073). The company does not wish to name a third-party designet on forma During 2018 four individuals are employed by Ellipses Corp. These employees are as follows Social Security # Address Federal wH Allowances State W/H Allowance Marital Status Name 111-11-1111 Married Hunter Cranston Allison Harrison 777-77-7777 Married 85 Southem Road Herndon, VA 20170 203A Pine Court Herndon, VA 20170 212 Tradition Lane Herndon, VA 20170 41 Seward Boulevard Herndon, VA 20170 John Parker 444-44-4444 Single 333-33-3333 Married Pierre Sterberg Note that Pierre Sternberg was hired in November, and his first day of work was Monday, November 26. Additionally due to an economic downtum, Allison Harrison was laid off in mid-December, with her last day of work on Friday, December 14 All employers of Ellipses Corp work a regular 40-hour wormek (thus all hours worked over 40 in a given we are overtime hour, beceive overtime pay at a rate of 15 times the regular wage rate, and are paid weekly on Friday for the current weak (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 $15/hour NA 69% Of gross pay Hunter Cranston Almon Haison $23/hour NA $203,000. 5% of gross pay NA John Parker NA $20 Pierre Sternberg NA $112.000. 19% of gross pay NA The first 11 months of the year have passed, and all payroll-related activity has been properly accounted for as of 11/30/2018. Please note that no paychecks were distributed on 1/1 2018 (as these checks were written and distributed on 12/31/2017 instead), resulting in the distribution of checks on 13 pay dates during the first quarter. Payroll data for each of the four employees for the first three quarters of the year, as well as for the months of October and November is as follows Hunter Cranston Gross Period Earnings Medicar Federal Income Tex State Income Social Security 401(k) Deductio Tax Tas Tax Charitabl e Cant 565 5366.60 quarter 2nd 5366.60 quarter 3rd $7,800 $7,800 $7,800 52,400 $3,000 $234 $234 $234 $72 $90 5483.60 5483.60 $483.60 $143.80 5186 9366.60 5112.80 $141 $113.10 5468 $113.10 5468 $113.10 5468 $34.80 $144 $43.50 5180 quarter October Novembe 565 565 $20 $25 Allison Harrison Gross Period Earnings Medicar Charitabl Federal Income Tax Social Security 401(k) Deductio State Income Tax $568.10 T 1st Cont 565 $11,960 $429 quarter 2nd $11,960 5429 $65 quarter 3rd $741.52 $741.52 741.52 $228.16 $285.20 568.10 $568.10 $174.80 $218.50 $11,960 $429 $3,680 $132 $4,600 $165 quarter $173.42 $598 5173.42 $598 173.42 $598 $53.36 5184 $66.70 5230 October Novembe $25 Medicar 401(k) Deductio Tax Ta Charitabl e Cont. $260 quarter 05 John Parker Gross Federal State Social Period Earnings Income Income Security Tax $50,750. $11,035.18 $2,537.47 53.146.52 2nd $50,750. 511,035.18 $2,537.47 $3,146.52 quarter 3rd $50,750. $11,035.18 52,537 47 51.667.76 quarter 05 $15,615. October 5780.76 50 Novembe $19,519. 597595 50 5735.93 SO 5735.93 SO $735.93 50 $226.44 SO $283.05 50 $3,3954 $260 260 S SO 5100 ID 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. 2. Establish an employee earnings record for each of the company's four employees. Complete the top portion of each record 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. Allison Harrison Weekly Hours Worked Weekly Start Date Hunter Cranston December 1 40 December 8 December 15 43.5 December 22 37 38 41 40 WARNING! The above dates are weekly start dates. Refer to a calendar to determine the weekly 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 voluntary deductions from the payroll register appropriately across the associated columns within the employee earnings ted to do so by your instructor, record the necessary journal entries for each pay period. Complete Form 941 for the 4th quarter. Note that based on the lookback period, the company is a monthly depositor. Assume that all necessary deposits were made on a timely basis and that the employer made deposits equal to the total amount owed for the quarter. Although Virginia quarterly state payroll forms are also filed by Ellipses Corp., you will not complete these. If directed to do so by your instructor, record the necessary journal entries associated with Form 941 (including those required for any tax payments made). NOTE! Recall from the Form 941 Rounding Considerations section that quarter- and year-end tax figures should not be calculated based on the total taxable earnings for the respective quarter or year. Instead, to avoid rounding discrepancies, tax figures within Part 2 of Form 941 should be determined for each employee by adding the individual taxes across each pay period. 5. Complete Form 940 for Ellipses Corp. Note that FUTA payments are made only when required (i.e. if the employer is permitted to postpone the payment of these taxes, it will do so until a point in time when payment must be remitted). If directed to do so by your instructor, record the necessary journal entry associated with Form 940. 6. Calculate total SUTA tax owed by the employer. Although Ellipses Corp. will file state forms in which this figure is reported, you are required to calculate only the total amount owed for the year. 7. Complete Copy A of Form W-2 for each of the four employees. State wages were the same as federal wages subject to federal withholding tax for each of the four employees, and the state identification number for Ellipses Corp, is the same as its federal Employer Identification Number 8. Complete Form W-3 for Ellipses Corp. Note that the company files the paper version of the form and selects "None apply" in the kind of Employer section. One-Month Project NOTE! Templates needed to complete these exercises are included in the Student Exercise Files download for this course. Ellipes Corp. is a small business that operates in Hemdon, VA. The company is located at 10 Period Lane, Herndon, VA 20170. Its federal Employer Identification Number is 77-7777777, and its president, who signs all tax forms, is John Parker (telephone +371-355-0073). The company does not wish to name a third-party designet on forma During 2018 four individuals are employed by Ellipses Corp. These employees are as follows Social Security # Address Federal wH Allowances State W/H Allowance Marital Status Name 111-11-1111 Married Hunter Cranston Allison Harrison 777-77-7777 Married 85 Southem Road Herndon, VA 20170 203A Pine Court Herndon, VA 20170 212 Tradition Lane Herndon, VA 20170 41 Seward Boulevard Herndon, VA 20170 John Parker 444-44-4444 Single 333-33-3333 Married Pierre Sterberg Note that Pierre Sternberg was hired in November, and his first day of work was Monday, November 26. Additionally due to an economic downtum, Allison Harrison was laid off in mid-December, with her last day of work on Friday, December 14 All employers of Ellipses Corp work a regular 40-hour wormek (thus all hours worked over 40 in a given we are overtime hour, beceive overtime pay at a rate of 15 times the regular wage rate, and are paid weekly on Friday for the current weak (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 $15/hour NA 69% Of gross pay Hunter Cranston Almon Haison $23/hour NA $203,000. 5% of gross pay NA John Parker NA $20 Pierre Sternberg NA $112.000. 19% of gross pay NA The first 11 months of the year have passed, and all payroll-related activity has been properly accounted for as of 11/30/2018. Please note that no paychecks were distributed on 1/1 2018 (as these checks were written and distributed on 12/31/2017 instead), resulting in the distribution of checks on 13 pay dates during the first quarter. Payroll data for each of the four employees for the first three quarters of the year, as well as for the months of October and November is as follows Hunter Cranston Gross Period Earnings Medicar Federal Income Tex State Income Social Security 401(k) Deductio Tax Tas Tax Charitabl e Cant 565 5366.60 quarter 2nd 5366.60 quarter 3rd $7,800 $7,800 $7,800 52,400 $3,000 $234 $234 $234 $72 $90 5483.60 5483.60 $483.60 $143.80 5186 9366.60 5112.80 $141 $113.10 5468 $113.10 5468 $113.10 5468 $34.80 $144 $43.50 5180 quarter October Novembe 565 565 $20 $25 Allison Harrison Gross Period Earnings Medicar Charitabl Federal Income Tax Social Security 401(k) Deductio State Income Tax $568.10 T 1st Cont 565 $11,960 $429 quarter 2nd $11,960 5429 $65 quarter 3rd $741.52 $741.52 741.52 $228.16 $285.20 568.10 $568.10 $174.80 $218.50 $11,960 $429 $3,680 $132 $4,600 $165 quarter $173.42 $598 5173.42 $598 173.42 $598 $53.36 5184 $66.70 5230 October Novembe $25 Medicar 401(k) Deductio Tax Ta Charitabl e Cont. $260 quarter 05 John Parker Gross Federal State Social Period Earnings Income Income Security Tax $50,750. $11,035.18 $2,537.47 53.146.52 2nd $50,750. 511,035.18 $2,537.47 $3,146.52 quarter 3rd $50,750. $11,035.18 52,537 47 51.667.76 quarter 05 $15,615. October 5780.76 50 Novembe $19,519. 597595 50 5735.93 SO 5735.93 SO $735.93 50 $226.44 SO $283.05 50 $3,3954 $260 260 S SO 5100 ID 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. 2. Establish an employee earnings record for each of the company's four employees. Complete the top portion of each record 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. Allison Harrison Weekly Hours Worked Weekly Start Date Hunter Cranston December 1 40 December 8 December 15 43.5 December 22 37 38 41 40 WARNING! The above dates are weekly start dates. Refer to a calendar to determine the weekly 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 voluntary deductions from the payroll register appropriately across the associated columns within the employee earnings ted to do so by your instructor, record the necessary journal entries for each pay period. Complete Form 941 for the 4th quarter. Note that based on the lookback period, the company is a monthly depositor. Assume that all necessary deposits were made on a timely basis and that the employer made deposits equal to the total amount owed for the quarter. Although Virginia quarterly state payroll forms are also filed by Ellipses Corp., you will not complete these. If directed to do so by your instructor, record the necessary journal entries associated with Form 941 (including those required for any tax payments made). NOTE! Recall from the Form 941 Rounding Considerations section that quarter- and year-end tax figures should not be calculated based on the total taxable earnings for the respective quarter or year. Instead, to avoid rounding discrepancies, tax figures within Part 2 of Form 941 should be determined for each employee by adding the individual taxes across each pay period. 5. Complete Form 940 for Ellipses Corp. Note that FUTA payments are made only when required (i.e. if the employer is permitted to postpone the payment of these taxes, it will do so until a point in time when payment must be remitted). If directed to do so by your instructor, record the necessary journal entry associated with Form 940. 6. Calculate total SUTA tax owed by the employer. Although Ellipses Corp. will file state forms in which this figure is reported, you are required to calculate only the total amount owed for the year. 7. Complete Copy A of Form W-2 for each of the four employees. State wages were the same as federal wages subject to federal withholding tax for each of the four employees, and the state identification number for Ellipses Corp, is the same as its federal Employer Identification Number 8. Complete Form W-3 for Ellipses Corp. Note that the company files the paper version of the form and selects "None apply" in the kind of Employer