226 PMTOMA One-Month Project NOTE! Templates needed to complete these exercises, Including one conte fans your-to.date payrong are included in the Student Exercise Files download for this course. Ellipses Corp. is a small business that operates in Herndon, VA. The company is located at 10 Period Lane Herndon, VA 20170, Its federal Employer Identification Number is 77-7777777, and its president. who sings all tax forms, is John Parker (telephone #571-555-0073). The company does not wish to name a third-party designte on forms. During 2019 four individuals are employed by Ellipses Corp. These employees are as follows Social Federal W/H State W/H Marital Security # Allowances Name Address Allowances Status Hunter Cranston 85 Southern Road 111-11-1111 2 2 Marked Homdon, VA 20170 Allison Harrison 203A Pine Court 737-77-3737 Married Herndon, VA 20170 John Parker 212 Tradition Lane 444-44-4444 Single Herndon, VA 20170 Pleo Sternberg 41 Seword Boulevard 333-33-1333 2 2 Married Herndon, VA 20170 Note that Pierre Sternberg was hired in November, and his first day of work was Monday, November 25. Additionally, due to an economic downturn, Allison Harrison was laid off in mid-December, with her Last days work on Friday, December 13. All employees of Ellipses Corp. work a regular 40-hour workweek (thus all hours worked over 40 in a grom week are overtime hours), receive overtime pay at a rate of 1.5 times the regular wage rate, and are paid wett? 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 3.13, while the SUTA wage base in Virginia $8,000. Earnings and voluntary deduction information for each of the four employees is as follows Regular Annual Weekly Charitable Name Weekly 401(K) Wage Rate Salary Deduction Contribution Hunter Cranston $15/hour NIA 6% of gross pay $5 Allison Harrison $21/hour NIA 5% of gross pay $5 John Parker $203,000.20 NIA $20 Pierre Stemberg NA $112,000.20 1% of gross pay N/APayroll Register Pay Period 11/30/19 Pay Date 12/6/19 Earnings Deductions Regular Regular Regular Overtime Overtime Overtime Total Social Check FWT Net Pay Employee Name SWT Medicare Vol. With. Hours Rate Earnings Hours Rate Earnings Earnings Security Number Cranston, H 40 $ 15.00 $ 600.00 0 $ 22.50 $ $ 600.00 $ 17.00 $ 28.20 $ 37.20 $ 8.70 $ 41.00 762 $ 467.90 Harrison, A 37 $ 23.00 851.00 0 $ 34.50 851.00 $ 25.00 $ 40.42 ur 52.76 12.34 $ 47.55 763 672.93 S ur 20.00 764 $ 2,791.33 Parker, J /a n/a $ 3,903.85 n/a n/a $ 3,903.85 $ 840.72 $ 195.19 $ 56.61 $ 2,153.85 n/a n/a $ 2,153.85 224.36 $ 106.62 133.54 31.23 $ 21.54 765 $ 1,636.56 Sternberg, P /a n/a $ 7,508.70 $ 1,107.08 $ 370.43 $ 130.09 Totals: $ 7,508.70 $ 223.50 $ 108.88 $ $ 5,568.72Payroll Register Pay Period 12/7/19 Pay Date 12/13/19 Earnings Deductions Regular Regular Regular Overtime Overtime Overtime Total Social Check Employee Name FWT SWT Medicare Vol. With. Net Pay Hours Rate Earnings Hours Rate Earnings Earnings Security Number Cranston, H 38 $ 15.00 $ 570.00 0 $ 22.50 $ $ 570.00 $ 7.00 $ 26.79 $ 35.34 $ 8.27 $ 39.20 766 $ 453.40 Harrison, A 40 $ 23.00 920.00 1 $ 34.50 34.50 S 954.50 $ 35.00 $ 45.34 $ 59.18 $ 13.84 $ 52.73 767 $ 748.41 Parker, J n/a n/a $ 3,903.85 n/a n/a $ 3,903.85 $ 840.72 $ 195.19 $ 56.61 $ 20.00 768 $ 2,791.33 Sternberg, P n/a n/a $ 2,153.85 n/a n/a S $ 2,153.85 224.36 106.62 133.54 S 31.23 $ 21.54 769 $ 1,636.56 Totals: $ 7,547.70 34.50 $ 7,582.20 $ 1,107.08 $ 373.94 $ 228.06 $ 109.95 $ 133.47 $ 5,629.70Pay Period Pay Date 12/14/19 12/20/19 Payroll Register Earnings Deduction 5 Employee Name Regular Hours Regular Earnings Overtime Hours Overtime Earnings Total Earnings Social Security Medicare Net Pay Cranston, H 40 $ 600.00 3.5 78.75 $ 678.75 42.08 $ 9.84 5 532.20 Parker, J Sternberg, P n/a 5 3,903.35 $ 2,153.35 n/a 5 3,903.35 $ 2,153.35 56.61 5 2,791.33 $ 1,535.55 5 6,657.70 5 6,736.45 5 1,082.08 $ 4,960.09 Payroll Register Pay Period 12/21/19 Pay Date 12/27/19 Earnings Deductions Regular Regular Overtime Overtime Overtime Total Social Check Employee Name Regular FWT SWT Medicare Vol. With. Net Pay Hours Rate Earnings Hours Rate Earnings Earnings Security Number Cranston, H 40 $ 15.00 S 600.00 0 $ 22.50 S 600.00 S 9.00 $ 28.20 S 37.20 $ 8.70 S 41.00 773 475.90 Parker, J n/a n/a $ 3,903.85 n/a n/a $ $ 3,903.85 S 840.72 195.19 $ S 83.60 20.00 774 $ 2,764.34 Sternberg, P n/a n/a $ 2,153.85 n/a n/a $ 2,153.85 $ 224.36 $ 106.62 $ 133.54 31.23 $ 21.54 775 $ 1,636.56 Totals: $ 6,657.70 $ - $ 6,657.70 $ 1,074.08 $ 330.01 $ 179.74 $ 123.53 $ 82.54 $ 4,876.80\fPierre Sternberg State Social Medicare 401(k) Tax Gross Federal Income Tax Security Tax Deduction Income TIX Cont period Earnings 50 $0 ist quarter and quarter 50 ard quarter $104.62 $133.54 531.23 $21.54 $2.153.85 $724.36 Note that all tax payments and filings are made on the due date. Based on the data provided here,you wo 5 complete the following 1. Establish an employee earnings record for each of the company's four employees. Complete the top parties of each record. Ca 2. 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 7. Co method only when necessary. Note that as of December 7, Hunter Cranston requests that his federal withholding allowances increase from two to three (Ellipses Corp, makes this change). Additionally, far simplicity, calculate the state income tax withholding as 5% of each employee's taxable pay (which is the 8, Co same as taxable pay for FWT). Recall that state income tax withholding would ordinarily be calculated way "N the applicable state's withholding tables, Payroll checks are remitted to the employees in the same code (Cranston, Harrison, Parker, Sternberg) each pay period and are written from a bank account that is card solely for these payments. The first payroll check written in December is check #762. TI 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 whee: compensated via an hourly wage: NO Weekly Hours Worked Ampers Why. Son Weekly Start Date Hunter Cranston |Allison Harrison signs all November 20 40 37 party des 41 During 2 December 14 43.5 December 21 40 Name WARNING! The above dates are weekly start dates. Refer to a calendar to determine the west Mapple Hough end dates and associated pay dates. keep in mind that tax liability and pinment amounts are determined based on the weekly pay dates Finnegan 3. Complete the employee earnings records for December for each of the four employees. Divide the way deductions from the payroll register appropriately across the associated columns within the employ records, If directed to do so by your instructor, record the necessary journal entries ntries for each party period FrancisgOne:Month Protect 2:27 first 11 months of the year have passed, and all payroll-related activity has been properly accounted for as of 980/2019. 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 Federal State Period Earnings Social Income Tax Income Tax Medicare Security Tax 401 (K) TAX Charitable Deduction ist quarter 57.800 $221 Cont. 5384.60 5483.60 $113.10 and quarter $7,800 $221 5346.60 $483.60 $113.10 565 ard quarter $7.800 $221 5246 60 $483.80 5113. 10 5468 $2,400 $112 80 $146 80 5144 520 November $3,000 $85 $141 $186 $43.50 5180 $25 Allison Harrison Gross Federal State Social Medicare 401(k) Charitable Period Earnings Income Tax Income Tax Security Tax Deduction Cont. ist quarter $11,960 5416 $568 10 $74 1.52 $173 42 1598 $65 and quarter $11,960 5416 $568 10 $74 1.52 $173.42 5578 and quarter $11.960 $416 $558.10 $74 1.52 $173.42 $598 585 October 53.680 $128 $174.80 $228.16 $53 34 5184 520 $285 20 565.70 5230 525 November $4,600 $160 $218.50 John Parker Gross Federal State 401 () Charitable Social Medicare Deduction Cont. Period Earnings Income Tax Income Tax Security Tax Tax $260 1st quarter $50.750.05 $10,929.36 $2.537 47 53, 145.52 $735.93 $50 750.05 $10.929.36 5735.93 50 4260 and quarter $2,537 47 $3. 146.52 ard quarter $50.750.05 $10.929 36 52.537 47 $1.946 76 5735.93 50 october $15.615.40 53.362.88 $780.76 SO $226.44 $19.519 25 5283.05 510 November $4.203.40 5975.95 SO