Question: one month payroll project

24/our 235 join Parker N/A pierre Sternberg N/A 1309,400 $111.800 first 1 1 months of the your have passed, and a'l payroll-related wakes ti bees carriedy Broiledto T October and November, is as follows. hey30/2018. Note that retirement deductions are made in Hereisthis such she Winns lowrance hey of old data for each of the four employees for the first three quarters setwas used mata de monitor Hunter Cranston Gross Federal Period Earnings Income Tax State Social 1it quarter $9.360 Income Tax 5455 Security Tax Tax Medicare 59.360 $439.92 Charitable and quarter $455 Deduction Cant $439.92 And quarter 59.360 1174.72 5455 $439.92 october $3.600 $175 $169.20 November $3.123 $128 4273 20 $146 78 $193 63 1187 38 Allison Harrison Gross Federal State Period Earnings Income Tax Social Medicare Charitable Income Tax Security Tax Tax Deduction Cont 1st quarter $12.480 5624 $592 80 3773.76 $180.96 and quarter $12.480 $624 $592.80 $773.76 $180 96 3rd quarter $12,480 $624 $592.80 $773.76 $180 96 october $4,800 $240 5228 $297.60 $69.60 $258.17 4208 30 November $4, 164 $163 $197.79 350.38 John Parker Medicare 401(k) Charital Gross Federal State Social Deduction Cont. Income Tax Security Tax Tax Period Earnings Income Tax $325 $2,567.50 $3,183.70 $744.58 $325 1st quarter $51,350 $12,308.57 $3,183.70 5744.58 $2,567.50 $725 2nd quarter $51,350 $12,308.57 $744.58 $1,519 $2,567.50 5125 3rd quarter $51,350 $12,308.57 $286.38 $10 $987.50 October $229.10 $19,750 $4,734.24 5790 November $15,800 $3,787.24Three Month Project 2. Within QuickBooks, create a Payroll Report that summarizes December payroll data (in the same mann that a payroll register summarizes such data). Export the report to Microsoft Excel. 3. Within QuickBooks, create a Payroll Report that summarizes 4th quarter (October-December) payroll Export the report to Microsoft Excel. Then complete Form 941 for the 4th quarter. Note that based on lookback period, the company is a monthly depositor that made timely payments throughout the entire Although Virginia quarterly state payroll forms are also filed by Ellipses Corp., you will not complete th 4. Within QuickBooks, create a Payroll Report that summarizes payroll data for the entire year. Export th report to Microsoft Excel. Then complete Form 940 for Ellipses Corp. Note that 401(k) deductions are taxable for FUTA and that FUTA payments are made only when required (i.e., if the employer is permi postpone the payment of these taxes, it will do so until a point in time when payment must be remitt 5. Calculate total SUTA tax owed by the employer. Although Ellipses Corp, will file state forms in which figure is reported, you are required to calculate only the total amount owed for the year and provide i instructor via a Microsoft Excel file. 6. Based on the QuickBooks reports previously generated, complete Copy A of Form W-2 for each of the employees. State wages were the same as federal wages subject to federal withholding tax for each of employees, and the state identification number for Ellipses Corp. was given at the beginning of the 7. Based on the QuickBooks reports previously generated, complete Form W-3 for Ellipses Corp. Note company files the paper version of the form and selects "None apply" in the Kind of Employer sectionmust ung Quick Backa Pro 2015 To activate s Ihad work with sample company films, see the Instructions on the but it Whathis three ofall the documentation provided to you when you purchased your ebook One-Month Project NOTE! Templates needed to complete these exercises are included in the Student Exercise Films sonny for this course. within that download you'll site find the "Lung Quick Books for Penter My Mum to review that file and complete the instructions prior to beginning this project. Corp is a small business that operates in Herndon, VA. The company is located at 10 Period Ling, VA 201 70. Its federal identification number is 77-7777777, its state identification number h 909F-012, its state unemployment number is 1234567890, and its president, who signs &l ta hes The Parker (telephone #571-555-0073). The company does not wish to name a third party designes on form am QuickBooks the industry associated with the company is General Bunness Service and the butinen tip deporation. Ellipses Corp. is on a weekly payroll schedule. 2018 four individuals are employed by Ellipses Corp. These employees are as follows. Social Address Security Federal W/H State W/H Allowances Allowances Status Hurt Cranston $5 Southern Road 111-11-1111 Herndon, VA 20170 Married Alson Harrison 203A Pine Court 737-27-3797 Herndon, VA 20170 212 Tradition Lang 444-44-6444 Herndon, VA 20170 Single Fierce Sternberg 41 Seward Boulevard 333-33-3333 Herndon, VA 20170 Note that Pierre Sternberg was hired in November, and his first day of work was Monday. November 19, 2018. Additionally, due to an economic downturn, Allison Harrison was lald off in mid-December, with her Last day of work on Friday, December 21. 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 Monday for the previous week (which runs from Saturday through Friday, although employees never work on weekends). The SUTA tax rate applicable to Ellipses Corp. is 2.53%, while the SUTA wage base in Virginia is $8,000. Note that QuickBooks defaults to a Social Security wage base of $127,200 in the Ellipses Corp. company le. Although this amount differs from the 2018 wage base, please utilize this amount when completing the roll cycle.payroll Accounting Chapter & Comprehensive Projects-QuickBooks Versions Pierre Sternberg Gross Federal State Social Medicare 401(k) Earnings Income Tax Income Tax Security Tax TAX Charitable Deduction Cont $2.150 $185 53 596.75 $133.30 $31.18 $215 Need that all tax payments and filings are made on the due date and that the company is a monthly depositor. Based on the data provided here, you will complete the following 1. Within QuickBooks, process payroll for December for each of the four employees. When calculating federal income tax withholding, use the withholding tables where possible, and refer to the percentage method only when necessary. 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. Note that as of December 8, Hunter Cranston requests that his federal withholding allowances increase from two to three. (Ellipses Corp. makes this change.) 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 dates for the first pay period you enter may need to be changed. This bank account has been established within QuickBooks to reflect a balance of $500,000 as of January 1. 2018. The first payroll check written in December is check #735. Employees may be subject to Additional Medicare Tax. Watch cumulative pay and calculate when applicable. This is necessary because you do not have a purchased payroll subscription. Note that all charitable contributions are remitted to the organizations on the final day of each month. The following information will be required for the processing of payroll for the two employees who are compensated with an hourly wage. Weekly Hours Worked Weekly Start Date Hunter Cranston Allison Harrison December 1 40 December 8 December 15 December 22by one partner but LLCs must have more than one in a partnership are retained when included in the ncome is treated as capital income in all cases. used bookstore together. They have been friends for so s on a handshake after discussing how they will share on the business Explain whether Debbie and Alan they have signed no written partnership agreement? orship to open very shore For each of the One-Month Project Earnings and voluntary deduction information for each of the four employees is as follows. Regular Annual Weekly 401(k) Name Wage Rate Weekly Charitable Salary Deduction Contribution Hunter Cranston $18/hour NIA 6% of gross pay Allison Harrison $24/hour NA 5% of gross pay John Parker N/A $205,400 N/A 525 Pierre Sternberg N/A $111,800 10% of gross pay NIA The first 11 months of the year have passed, and all payroll-related activity has been properly accounted for of 11/30/2018. Note that retirement deductions are made in association with the Williams Insurance Age Payroll data for each of the four employees for the first three quarters of the year, as well as for the month October and November, is as follows. Hunter Cranston State Social Medicare 401(k) Gross Federal Income Tax Security Tax Tax Deduction CO Period Earnings Income Tax $439.92 5580.32 $135.72 $561.60 1st quarter $9,360 $455 5439.92 $580.32 $135.72 $561.60 2nd quarter $9,360 $455 $439.92 $580.32 $135.72 $561.60 $455 3rd quarter $9,360 $169.20 5223.20 $52.20 $216 $175 October $3,600 $146.78 $193.63 $45.28 $187.38 $128 November $3,123