CPP 6-1 Complete 4th Quarter and Year-End Payroll Reporting Before You Begin: For this assignment you will need to reference data from the forms you completed in CPP 4-1, so be sure to complete that assignment before beginning this one. If you are using Homework Grader, the data is provided in the online version of the assignment. Calculate 4th quarter taxes for TCLH Industries, a manufacturer of cleaning products, and then complete Forms 941 and 940 as of year-end. Conclude by completing Copy A of the W-2 Form for each of the four employees, year-end tax figures should not be calculated based on the total taxable earnings for the respective quarter or as well as the associated W-3 Form. Recall from the Form 941 Rounding Considerations section that quarter-and year. Instead, to avoid rounding discrepancies, these tax figures should be determined for each employee by adding the individual taxes across each pay period. To assist in the completion of this assignment, the following employee earnings records display year-to-date earnings prior to the current pay period. As a result, the 4th Quarter" row excludes the final three weeks of the year. Note that the current pay period is the first pay period for Zachary Fox (SSN 121-21-2121, address: 1483 Independence Road, Durham, NC 27701); therefore, his employee earnings record is not displayed below, as it contains no previous earnings information. These images are included as Excel files in your Student Exercise Files download. You can use them as a starting point as you complete the assignment. Name Address Calvin Bell SS# 2222 Sacker Place Durham, NC 27701 500-00-0000 Earnings Employee Earnings Record Marital Status Fed. Withholding Allow. Single 2 State Withholding Allow. 1 Deductions Pay Period Ending Regular Hours Worked Regular Pay Rate Regular Wages Overtime Hours Worked Overtime Pay Rate Overtime Wages Gross Pay Federal Withholding Tax State Withholding Tax Social Security Tax Medicare Tax Retirement Contribution Life Insurance 1st Quarter n/a n/a $3,796.00 n/a n/a $ 1,637.09 $ 5,433.09 $208.00 $255.32 $336.83 $ 78.78 $326.04 $ 2nd Quarter n/a n/a $3,796.00 n/a n/a $ 1,637.09 $ 5,433.09 $208.00 $255.32 $336.83 $ 78.78 $326.04 $ 3rd Quarter n/a n/a $3,796.00 n/a n/a $1,637.09 $ 5,433.09 $208.00 $255.32 $336.83 $ 78.78 $326.04 $ 4th Quarter n/a n/a $2,920.00 n/a n/a $ 1,259.30 $ 4,179.30 $160.00 $196.40 $259.10 $ 60.60 $250.80 $ Charitable Contribution Additional Withholding Check Number Net Pay $195.00 $91.00 $3,942.12 $ 3,942.12 $3,942.12 $3,032.40 $195.00 $91.00 $195.00 $91.00 $150.00 $70.00 CPP 6-1 Complete 4th Quarter and Year-End Payroll Reporting Before You Begin: For this assignment you will need to reference data from the forms you completed in CPP 4-1, so be sure to complete that assignment before beginning this one. If you are using Homework Grader, the data is provided in the online version of the assignment. Calculate 4th quarter taxes for TCLH Industries, a manufacturer of cleaning products, and then complete Forms 941 and 940 as of year-end. Conclude by completing Copy A of the W-2 Form for each of the four employees, year-end tax figures should not be calculated based on the total taxable earnings for the respective quarter or as well as the associated W-3 Form. Recall from the Form 941 Rounding Considerations section that quarter-and year. Instead, to avoid rounding discrepancies, these tax figures should be determined for each employee by adding the individual taxes across each pay period. To assist in the completion of this assignment, the following employee earnings records display year-to-date earnings prior to the current pay period. As a result, the 4th Quarter" row excludes the final three weeks of the year. Note that the current pay period is the first pay period for Zachary Fox (SSN 121-21-2121, address: 1483 Independence Road, Durham, NC 27701); therefore, his employee earnings record is not displayed below, as it contains no previous earnings information. These images are included as Excel files in your Student Exercise Files download. You can use them as a starting point as you complete the assignment. Name Address Calvin Bell SS# 2222 Sacker Place Durham, NC 27701 500-00-0000 Earnings Employee Earnings Record Marital Status Fed. Withholding Allow. Single 2 State Withholding Allow. 1 Deductions Pay Period Ending Regular Hours Worked Regular Pay Rate Regular Wages Overtime Hours Worked Overtime Pay Rate Overtime Wages Gross Pay Federal Withholding Tax State Withholding Tax Social Security Tax Medicare Tax Retirement Contribution Life Insurance 1st Quarter n/a n/a $3,796.00 n/a n/a $ 1,637.09 $ 5,433.09 $208.00 $255.32 $336.83 $ 78.78 $326.04 $ 2nd Quarter n/a n/a $3,796.00 n/a n/a $ 1,637.09 $ 5,433.09 $208.00 $255.32 $336.83 $ 78.78 $326.04 $ 3rd Quarter n/a n/a $3,796.00 n/a n/a $1,637.09 $ 5,433.09 $208.00 $255.32 $336.83 $ 78.78 $326.04 $ 4th Quarter n/a n/a $2,920.00 n/a n/a $ 1,259.30 $ 4,179.30 $160.00 $196.40 $259.10 $ 60.60 $250.80 $ Charitable Contribution Additional Withholding Check Number Net Pay $195.00 $91.00 $3,942.12 $ 3,942.12 $3,942.12 $3,032.40 $195.00 $91.00 $195.00 $91.00 $150.00 $70.00