SLI DILLO Paste A.P.A - Aa- A A ... ALI Clipboard Font Paragraph Styles E Voice One-month Project (350 pts) -- The project focuses on Ellipses Corporation which begins on Page 226. You will complete payroll-related tasks for the month of December and will then finalize year-end reporting Establish an employee earnings record for each of the company's four employees. Complete the top portion of each record at this time. I have included the accumulated earnings for each employee prior to the month of December as well as the necessary excel function for the total line. As you enter amounts into the earnings records, the total will automatically change. Locate the earnings records in the Final Project Template worksheet. 2. Complete the payroll register for each weekly pay period during December. You will need to complete four payroll registers (12/7, 12/14, 12/21, 12/28). Locate the payroll registers in the Final Project Template worksheet. You must use excel functions to complete the registers. 3. Record the necessary journal entries for each navi period. Remember you have entries r te Proiects-paper Bascov 220 Payrol Accounting Cha first 11 month 11/30/2018 PM bured on 12 arter. Payroll dan enth of October One-Month Project Files download Hunter Cranst Templates needed to complete these exercises are included in the student Exercise Files down for this course Period Ist quarter pses Corp. is a small business that operates in Herndon, VA. The company is located at 10 Period Lane Herndon, VA 20170. Its federal Emplower Identification Number is 77-7777 anos president, who sign all tax forms, is John Parker (telephone 571-555-0073). The company does not wish to name a third-party und quarter designee on forms. 3rd quarter During 2018 four individuals are employed by Ellipses Corp. These employees are as follows. State W/H Allowances Federal W/H Allowances Marital Status October Social Security November Married Name Address 111-11-1111 Hunter Cranston 85 Southern Road Herndon, VA 20170 Married 777-77-7777 Allison Harrison 203A Pine Court Herndon, VA 20170 Single Allison Har - 444-44-4444 John Parker 212 Tradition Lane Herndon, VA 20170 Married Period 333-33-3333 Pierre Sternberg 41 Seward Boulevard Herndon, VA 20170 Ist quarter 2nd quarter 3rd quarter 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. October November 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 John Pa Earnings and voluntary deduction information for each of the four employees is as follows. Period Regular Wage Rate Annual Salary Weekly 401(k) Deduction Ist qua Weekly Charitable Contribution Name 2nd Qu Hunter Cranston S15/hour N/A 6% of gross pay $5 $23/hour Allison Harrison Ordu 5% of gross pay John Parker N/A NA $203,000.20 $112.000.20 $20 NA 1% of gross pay Pierre Sternberg N/A HOVE N/A On 227 heyear have passed, and all payroll related activity has been properly counted for note that no paychecks were distributed on 2018 (as these checks were written ant 2017 instead), resulting in the distribution of ched on 13 pary dates during the first for each of the four employees for the first three quarters of the year, as well as for the Il months of the 11/30/2018 Please buted on 12/31 suurter. Payroll data for sonths of October. October and November, is as follows Hunter Cranston les Gross Federal Income Tax amnings State Income Tax Social Security Tax Medicare Tax 401(k) Deduction Charitable Cont Period 57.800 5234 5356.60 $483.60 5113.10 5468 $65 stuarter 57.800 $234 $366.60 $483.60 5113.10 $468 $65 ind Quarter $234 $7.800 $366.60 5483.60 $113.10 $468 d quarter tive Tan 565 52,400 572 $112.80 $148.80 $34.80 $144 October 520 525 3,000 590 $141 5186 $43.50 S180 ay- im. November Allison Harrison Federal Income Tax Gross Earnings Medicare Tax 401(k) Deduction Charitable Cont med State Income Tax $568.10 Social Security Tax $741.52 5741.52 $173.42 $598 $65 $429 511,960 1st quarter 5568.10 $598 $65 5429 2nd quarter $11.960 $173.42 5173.42 $741.52 5598 565 $568.10 $429 3rd quarter $11.960 $174.80 553.36 $184 520 October $3,680 $132 $165 $228.16 5285.20 $230 566.70 $25 $218.50 November $4,600 John Parker Social Security Tax 401(k) Deduction Medicare Tax State Income Tax Charitable Cont. 5260 $735.93 5260 $2,537.47 $2,537.47 $735.93 $3,146.52 $3,146.52 $1,667.76 Federal Income Tax $11,035.18 $11,035.18 $11,035,18 $3,395.44 $4,244.30 Gross Period Earnings 1st quarter $50,750.05 2nd quarter $50,750.05 3rd quarter $50,750.05 October $15,615.40 November . $19,519.25 50 So $260 $735.93 $226.44 $80 50 $2,537.47 $780.76 $975.95 50 $100 $283.05 50 $0 228 rol Accounting Chapter comprehe Pierre Sternberg Medicare Social 401(k) Deduction Charitable Cont. Gross Earnings State Income Tax Federal Income Tax Fox Security Tax Tst Quarter SO SO 50 2nd quarter 50 50 SO SO 3rd Quarter SO SO 50 50 October $0 $21.54 $31.23 $133.54 so November 52,153 BS 5106,62 $228.94 Note that all tax payments and filings are made on the due date. Based on the data provided here, you will complete the following: Etablish an employee caming record for each of the company's four employees. Complete the top portin of each record 2. Establish and complete the payroll register for each weekly pay period during December. When calculatina 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 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 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 earns records. If directed to do so by your instructor, record the necessary journal entries for each pay period. C24 =C11+C12+C13+C14 BcDELFI G H I J K L 1 Summarized information for the 941: FWT Earnings Federal Inc Tax Soc Sec Earnings Soc Sec Tax 4 Name Medicare Earnings Medicare Tax 401K Source 5 72.00 132.00 3,395.44 2,400.00 3,680.00 148.80 228.16 2,400.00 3,680.00 15,615.40 34.80 53.36 226.44 144.00 Book 184.00 Book - Book 3,000.00 4,600.00 186.00 285.20 180.00 Book 230.00 Book 6 October Payroll 7 H Cranston 2,256.00 8 A Harrison 3,496.00 9 J Parker 15,615.40 10 November Payroll 11 H Cranston 2,820.00 12 A Harrison 4,370.00 13 J Parker 19,519.25 14 P Sternberg 2,132.31 15 December Payroll 16 H Cranston 17 A Harrison 18 J Parker 19 P Sternberg 50,208.96 90.00 165.00 4,244.30 228.94 3,000.00 4,600.00 19,519.25 2,153.85 43.50 66.70 283.05 31.23 - Book 2,153.85 133.54 21.54 Book Dec. Earnings Record Dec. Earnings Record Dec. Earnings Record Dec. Earnings Record 8,327.68 15,833.85 50,968.50 739.08 October November December 24 FWT 3,599.44 4,728.24 25 SS employee 376.96 604.74 26 SS employer 376.96 604.74 27 Med employee 314.60 424.48 28 Med employer 314.60 424.48 29 Deposits 4,982.56 6,786.68 Payroll Registers Employee Earnings Totals 8,327.68 981.70 981.70 739.08 739.08 11,769.24 Journal Rprt Info o te @ .wix SLI DILLO Paste A.P.A - Aa- A A ... ALI Clipboard Font Paragraph Styles E Voice One-month Project (350 pts) -- The project focuses on Ellipses Corporation which begins on Page 226. You will complete payroll-related tasks for the month of December and will then finalize year-end reporting Establish an employee earnings record for each of the company's four employees. Complete the top portion of each record at this time. I have included the accumulated earnings for each employee prior to the month of December as well as the necessary excel function for the total line. As you enter amounts into the earnings records, the total will automatically change. Locate the earnings records in the Final Project Template worksheet. 2. Complete the payroll register for each weekly pay period during December. You will need to complete four payroll registers (12/7, 12/14, 12/21, 12/28). Locate the payroll registers in the Final Project Template worksheet. You must use excel functions to complete the registers. 3. Record the necessary journal entries for each navi period. Remember you have entries r te Proiects-paper Bascov 220 Payrol Accounting Cha first 11 month 11/30/2018 PM bured on 12 arter. Payroll dan enth of October One-Month Project Files download Hunter Cranst Templates needed to complete these exercises are included in the student Exercise Files down for this course Period Ist quarter pses Corp. is a small business that operates in Herndon, VA. The company is located at 10 Period Lane Herndon, VA 20170. Its federal Emplower Identification Number is 77-7777 anos president, who sign all tax forms, is John Parker (telephone 571-555-0073). The company does not wish to name a third-party und quarter designee on forms. 3rd quarter During 2018 four individuals are employed by Ellipses Corp. These employees are as follows. State W/H Allowances Federal W/H Allowances Marital Status October Social Security November Married Name Address 111-11-1111 Hunter Cranston 85 Southern Road Herndon, VA 20170 Married 777-77-7777 Allison Harrison 203A Pine Court Herndon, VA 20170 Single Allison Har - 444-44-4444 John Parker 212 Tradition Lane Herndon, VA 20170 Married Period 333-33-3333 Pierre Sternberg 41 Seward Boulevard Herndon, VA 20170 Ist quarter 2nd quarter 3rd quarter 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. October November 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 John Pa Earnings and voluntary deduction information for each of the four employees is as follows. Period Regular Wage Rate Annual Salary Weekly 401(k) Deduction Ist qua Weekly Charitable Contribution Name 2nd Qu Hunter Cranston S15/hour N/A 6% of gross pay $5 $23/hour Allison Harrison Ordu 5% of gross pay John Parker N/A NA $203,000.20 $112.000.20 $20 NA 1% of gross pay Pierre Sternberg N/A HOVE N/A On 227 heyear have passed, and all payroll related activity has been properly counted for note that no paychecks were distributed on 2018 (as these checks were written ant 2017 instead), resulting in the distribution of ched on 13 pary dates during the first for each of the four employees for the first three quarters of the year, as well as for the Il months of the 11/30/2018 Please buted on 12/31 suurter. Payroll data for sonths of October. October and November, is as follows Hunter Cranston les Gross Federal Income Tax amnings State Income Tax Social Security Tax Medicare Tax 401(k) Deduction Charitable Cont Period 57.800 5234 5356.60 $483.60 5113.10 5468 $65 stuarter 57.800 $234 $366.60 $483.60 5113.10 $468 $65 ind Quarter $234 $7.800 $366.60 5483.60 $113.10 $468 d quarter tive Tan 565 52,400 572 $112.80 $148.80 $34.80 $144 October 520 525 3,000 590 $141 5186 $43.50 S180 ay- im. November Allison Harrison Federal Income Tax Gross Earnings Medicare Tax 401(k) Deduction Charitable Cont med State Income Tax $568.10 Social Security Tax $741.52 5741.52 $173.42 $598 $65 $429 511,960 1st quarter 5568.10 $598 $65 5429 2nd quarter $11.960 $173.42 5173.42 $741.52 5598 565 $568.10 $429 3rd quarter $11.960 $174.80 553.36 $184 520 October $3,680 $132 $165 $228.16 5285.20 $230 566.70 $25 $218.50 November $4,600 John Parker Social Security Tax 401(k) Deduction Medicare Tax State Income Tax Charitable Cont. 5260 $735.93 5260 $2,537.47 $2,537.47 $735.93 $3,146.52 $3,146.52 $1,667.76 Federal Income Tax $11,035.18 $11,035.18 $11,035,18 $3,395.44 $4,244.30 Gross Period Earnings 1st quarter $50,750.05 2nd quarter $50,750.05 3rd quarter $50,750.05 October $15,615.40 November . $19,519.25 50 So $260 $735.93 $226.44 $80 50 $2,537.47 $780.76 $975.95 50 $100 $283.05 50 $0 228 rol Accounting Chapter comprehe Pierre Sternberg Medicare Social 401(k) Deduction Charitable Cont. Gross Earnings State Income Tax Federal Income Tax Fox Security Tax Tst Quarter SO SO 50 2nd quarter 50 50 SO SO 3rd Quarter SO SO 50 50 October $0 $21.54 $31.23 $133.54 so November 52,153 BS 5106,62 $228.94 Note that all tax payments and filings are made on the due date. Based on the data provided here, you will complete the following: Etablish an employee caming record for each of the company's four employees. Complete the top portin of each record 2. Establish and complete the payroll register for each weekly pay period during December. When calculatina 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 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 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 earns records. If directed to do so by your instructor, record the necessary journal entries for each pay period. C24 =C11+C12+C13+C14 BcDELFI G H I J K L 1 Summarized information for the 941: FWT Earnings Federal Inc Tax Soc Sec Earnings Soc Sec Tax 4 Name Medicare Earnings Medicare Tax 401K Source 5 72.00 132.00 3,395.44 2,400.00 3,680.00 148.80 228.16 2,400.00 3,680.00 15,615.40 34.80 53.36 226.44 144.00 Book 184.00 Book - Book 3,000.00 4,600.00 186.00 285.20 180.00 Book 230.00 Book 6 October Payroll 7 H Cranston 2,256.00 8 A Harrison 3,496.00 9 J Parker 15,615.40 10 November Payroll 11 H Cranston 2,820.00 12 A Harrison 4,370.00 13 J Parker 19,519.25 14 P Sternberg 2,132.31 15 December Payroll 16 H Cranston 17 A Harrison 18 J Parker 19 P Sternberg 50,208.96 90.00 165.00 4,244.30 228.94 3,000.00 4,600.00 19,519.25 2,153.85 43.50 66.70 283.05 31.23 - Book 2,153.85 133.54 21.54 Book Dec. Earnings Record Dec. Earnings Record Dec. Earnings Record Dec. Earnings Record 8,327.68 15,833.85 50,968.50 739.08 October November December 24 FWT 3,599.44 4,728.24 25 SS employee 376.96 604.74 26 SS employer 376.96 604.74 27 Med employee 314.60 424.48 28 Med employer 314.60 424.48 29 Deposits 4,982.56 6,786.68 Payroll Registers Employee Earnings Totals 8,327.68 981.70 981.70 739.08 739.08 11,769.24 Journal Rprt Info o te @ .wix