You were hired to become the payroll accountant for ABC Company. Below is a payroll register for period ending December 30, 2018 that was paid January 4, 2019. Your assignment is to calculate OASDI, HI tax, FIT, and SIT creating your own payroll register. Then you must calculate FUTA and SUTA (employer taxes). After completing the register, ABC Company asked you to create the payroll accrual journal entry with wages expense and FICA expense to the employer, so they can record the payroll/tax expense in December. create a journal entry form. After completion of the journal entry to accrue payroll and tax expense, you are required to complete their 2018 w-2 forms with the below payroll earnings record. Do not include your calculations for December 30th, 2018 payroll register in your w-2 reporting. W-2 forms are listed below the earnings record. Do not worry about recording addresses in the form. Make sure you click in the correct cell; otherwise you will alter the format by mistake. After completing the w-2 forms, you must answer the questions on the last page of this document. The next step would be to complete the forms 940 and 941 (4th qtr) using the earnings record information below. Use the company information in the w-2 forms to add to the forms 940 and 941.
FIT for weekly payroll on publication 15 (wage bracket)
SIT 3.07%
FICA rates6.2% and 1.45%
FUTA0.6%
SUTA3.36785%
Payroll Register For Period Ending December 30, 2018 (use wage bracket method in publication 15) Regular Earnings Overtime Earnings Time No. Rate Rate Card Marital W/H Hours per Hours per Total No. Name Status Allow. Worked Hour Amount Worked Hour Amount Earnings 11 Carson, F. S 40 17.50 700.00 700.00 12 Wilson, W. S 40 17.25 690.00 8 25.88 207.04 897.04 NO - 13 Utley, H. M 37 1/2 18.10 678.75 678.75 21 Fife, L. M 4 40 17.90 716.00 6 26.85 161.10 877.10 22 Smith, L. 2 40 19.75 790.00 790.00 Totals 3,574.75 368.14 3,942.89EMPLOYEES' EARNINGS RECORD Regular Earnings Overtime Earnings Deductions Net Paid Cumulative Other Ck Payday |Hrs. Rate Amount | Hrs. Rate Amount Earnings OASDI HI FIT SIT SUTA CIT SIMPLE | Deduct. No. Amount Carson, F Year-to-Date Total ....... . 10,293.40 1,028.60 11.322.00 701.96 164.17 810.00 347.58 10/9 80 17.60 1,408.00 12 730.00 87.30 20.42 33.00 43.23 872 10/23 80 17.80 1,408.00 4 28.40 105.60 14.243.60 93.84 21.95 43.00 46.47 682 11/6 80 1760 1,408.00 15 851.60 87.30 20.42 33.00 43.23 892 11/20 64 17.60 1,126.40 16 778.00 89.84 18.33 5.00 34.58 703 80 17.60 1,408.00 35.20 281.60 18 467.60 104.76 24.50 61.00 51.87 712 12/18 80 17.80 1,408.00 12 35.20 422 40 20.298.00 113.48 28.54 59 00 58.19 723 Qtr. Tot. 464 8, 186.40 808.60 8.976.00 556.52 130.16 234.00 275.57 Yr. Tot. ...... ........ 13459.80 1,838 20 20 298.00 1,258.48 294.33 1044.00 623.16 Wilson, W Year-to-Date Total ....... 23.125.00 23.125.00 1,433.75 335.31 2.281.00 709.94 10/9 80 2,250.00 25,375.00 139.50 32.63 107.00 89.08 673 10/23 80 2,250.00 27,625.00 139.50 32.63 107.00 89.08 683 11/6 80 2,250.00 29,875.00 139.50 32.63 107.00 89.08 603 11/20 80 2,250.00 32,125.00 139.50 32.63 51.00 89.08 704 12/4 80 2.250.00 34,375.00 139.50 32.63 51.00 89.08 713 12/18 80 2.250.00 36,625.00 139.50 32.63 51.00 89.08 724 Otr. Tot. 480 . 13,500.00 13,500.00 837.00 195.78 474.00 414.48 Yr. Tot. ...... -........ 40.625.00 38,625.00 2,270.75 531.09 2,785.00 1,124.42 Ultey. H Year-to-Date Total 8,300.00 6,300.00 390.60 91.35 639.00 193.41 10/9 80 1,220.00 7,520.00 75.64 17.69 85.00 37.45 674 10/23 80 1,220.00 8,740.00 75.64 17.68 85.00 37.45 684 11/6 80 1,220.00 9,980.00 75.64 17.69 85.00 37.45 894 11/20 80 1,220.00 11,180.00 75.64 17.68 85.00 37.45 705 12/4 80 1,280.00 12.460.00 79.36 18.58 92.00 30.30 714 12/18 80 1,280.00 13,740.00 79.36 18.58 92.00 30.30 725 Otr. Tot. 480 7,440.00 7,440.00 461.28 107.88 524.00 228.40 Yr. Tot. 13,740.00 13,740.00 851.88 198.23 1,183.00 421.81EMPLOYEES' EARNINGS RECORD Regular Earnings Overtime Earnings Deductions Net Paid Cumulative Other Ck. Payday | Hrs. Rate Amount Hrs. Rate Amount Earnings OASDI HI FIT SIT SUTA CIT SIMPLE Deduct. No. Amount Fife, L Year-to-Date Total 5.400.00 5 400.00 334.80 78.30 332.00 185.78 1019 80 1,350.00 6 750.00 83.70 19.58 27.00 41.45 675 10/23 80 1.350.00 8.100.00 83.70 19.58 27.00 41.45 685 1 1/6 80 1,350.00 8.450.00 83.70 19.58 95.00 41.45 11/20 80 1.350.00 10 800_00 83.70 19.58 85.00 41.45 708 12/4 80 1,350.00 12 150.00 83.70 19.58 85.00 41.45 715 12/18 80 1,350.00 13.500.00 83.70 19.58 85.00 41.45 728 Qtr. Tot. 480 8,100.00 8 100.00 502.20 117.48 344.00 248.70 Yr. Tot. 13,500.00 13.500.00 837.00 195.78 876.00 414.48 Smith, L Year-to-Date Total 42.692.27 42.692.27 2,646.92 819 04 6,116 00 1,310.65 10/9 80 2.307.68 44,909.96 143.08 33.46 152.00 70.85 678 10/23 80 2,307.68 47,307.65 143.08 33.46 152 00 70.85 686 1 1/8 80 2.307.68 49.815.34 143.08 33.48 152 00 70.85 898 11/20 80 2.307.68 51,823.03 143.08 33.46 69.00 70.85 707 12/4 80 2.307.68 54,230.72 143.08 33.46 69.00 70.85 718 12/18 80 77,307.68 131,538.41 4,508.48 1,120.96 24 391.71 2.373.35 727 Qtr. Tot. 480 88 846.14 88,846.14 5,313.88 1,288 26 24 985 71 2.727.60 Yr. Tot. 131.538.41 131,538.41 7,980.80 1,807 30 31,101.71 4,038.25For Othaud Use Only 22222 000-00-6337 2 00-0000660 20.298 1044.00 Employer's mann, addmins, and ZIP cada Backil Cricutly wapes 4 Bedid atcunty the wit held 20.298 1258.48 ABC Company Med care wigin and tips Medicare tax withheld 5662 Salvador Street 20.298 294.32 Social security tom Cantrul marrbut Vindication cada 10 Employsu's first name and intal Limit name Butt. 17 Nonqual fied phara Soo nibructions for bus 12 F Carson Cudia 0 0 14 PA 000-0-3300 20.290 3.07% 623.16 W-2 Wage and Tax For Privacy Actand Paperwork Statement 20-- Reduction Act Notice, amm buck of Copy D.For Ottiaul Use Only 22227 0 000-00-8645 ONE NO. 1 5-HULK 00-0000660 36,625.00 2,765 Employer's mann, addons, and ZIP cud Sockl Dicutty wages Bodin accanty tan wit held 36.625.00 531.06 ABC Company Med care wegin and tips Midicare tax withhad 5662 Salvador Street 36.625.00 2,270.75 Social security tipa Alscaled tim Vintention cade 10 Dipandhint cam bencha Employee's first name and initial Limit name Butt. Manqual fied plain Soo hitructions for bus 12 W Wilson Godi Thinkparty 0 PA DO0-0-3300 3.07 Wage and Tax Form W-2 Statement 20 For Privacy Act and Pupurwork Reduction Act Notice, now buck of Copy D.For Offical We Only 22222 000-00-4567 JMB NO. 1 :4HOOUH 2 00-0000660 13.740 1,163 Employer's mann, adina, and ZIP cuda Social scutty wages Bedid accarry the wit held 13.740 199.23 ABC Company Med bite wigi and tipi Medicare tax withhad 5662 Salvador Street 13.740 851.88 Social security tipa Allocated fir Control marr bin Vintention cade Capandwant cam bencha Employee's first name and initial Limit name Butt 17 Manque had plan Soo natructions for bus 12 H Ultlex 13 Thinkparty 14 Othis PA 000-0-3300 1.163 3.07 35.70 W-2 Wage and Tax Statement 20-- For Privacy Act and Puparwork Form Reduction Act Notice, now buck of Copy D.For Othowl We Only 22222 000-00-9352 ONE No. 1515-DOU8 00-0000660 13,500 676 Employer's mann, addme, and ZIP end Backail Scutty wages Badin security tan wit held 13.500 195.75 ABC Company B 5662 Salvador Street 13.500 837 Social security tips Allocated fora Philadelphia, PA 18179-0482 Contrul narbut Employen's first name and initial Lini nana Butt. 17 Manquel Find plan See nitricto's for bus 12 L Fife 13 sick ple 0 PA 000-0-3300 13.500 3.07 414.48 Wage and Tax 20-- For Privacy Act and Paperwork Form W-2 Statement Reduction Act Notice, mum buck of Copy D.For Umoul Was Only 22273 000-00-1223 OMB NO. 1 945-0008 Employer Kinthatin numbs (LIN 2 00-0000660 131.538.41 31,101.71 Employer's mama, adina, and Zip code 3 Spell incutty wages by tan withheld 131,538.41 1,907.31 ABC Company Med care wegin and tips Medicare tax withbald 5662 Salvador Street 131.538.41 3,155.38 facial security Ia Allocated Ip Philadelphia, PA 19175-0852 Control nambu Verification cada Capandlant came bencha Employee's first name and initial Linal nana Butt. IT See nibrucia's for bus 12 L Smith Think party plan dick ply 14 Cthi Employal's action and ZIP bark Lead ham ba PA 000-0-3300 131,538 3.07 W-2 Wage and Tax For Privacy Act and Puparwork Statement 20-- Reduction Act Notice, now buck of Copy D.Questions: 1) With respect to the w-2 form for L Smith, if he had paid into a qualified retirement plan for an annual total of $4200, would any of the boxes change on his w-2? 2) What box is used to report employee paid SUI? 3) What is the OASDI limit for 2019
