having trouble getting started with the payroll register

226 Payroll Accounting chagter 7. Comprenensive One-Month Project NOTE! Templates needed to complete these exercises are included in the for this course Elipses Corp is a small business that operates in Herndon, VA. The Herndon, VA 20170. Its federal Employer Identification Number is 77-777777, and its all tax forms, is John Parker (telephone 8571-555-0073) The company does not wish to name designee on forms s located at 10 Period Lane, its president, who signa Duing 2018 four individuals are employed by Ellipses Corp. These employees are as follows Social Security Federal WH State W/H Marital Name Address Munter Cranston 85 Southern Road Herndon, VA 20170 Allison Harrison 203A Pine Court m7-7777 Herndon, VA 20170 John Parker 444-44-4444 212 Tradition Lane Herndon, VA 20170 single 333-33-33332 Pierre Sternberg 41 Seward Boulevard Married Herndon, VA 20170o 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. All employees of Elipses 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 Elipses Corp. is 3.1%, while the SUTA wage base in Virginia is $8,000. Earnings and voluntary deduction information for each of the four employees is as follows Regular Wage Rate Salary Weekly 401(k) Weekly Charitable Contribution Annual Name Hunter Cranston $15/hour Allison Harrison $23/hour Deduction 6% of gross pay 5%Of gross pay N/A N/A $203,000.20 N/A |$5 John Parker N/A $20 11% of gross pay | N/A Pierre Sternberg N/A $112.000.20 One Month Project 227 f tbe year have passed, and all payrol related activity has been properly accounted for as of the mntse that no paychecks were distributed on 1/1/2018 (as these checks were written and Ple 2017 instead), resulting in the distribution of checks on 13 pay dates during the frst 12arach of the four employees for the first three quarters of the year, as well as for the f October and November, is as follows State Social Medicare 4010k) Charitable Income Tax Income Tax Security Tax Tax Earnings Deduction Cont. 00 5234536 60460$13 10 46865 $483.60 $113.10 $468 $366.60 $366.60 $112.80 $14 $483 60 $113.10$468 $113.10 $468 $34 80 :S144 $43.50 $180 565 $483.60 $148.80 $186 572 $20 $25 State Social Medicare 401(k) Gross Earnings uicome Tax Income Tax Security Tax Tax Deduction Cont. quaer $11,960 $429 anr$11,960 $429 dquater $11,960 $429 tber $3,680 $132 vember $4,600 $165 $568.10 $568.10 $568.10 $174.80 $218.50 $741.52 5741.52 $741.52 $228.16 $285.20 $173.42 $598 $173.42 $598 $173.42 $598 $53.36 $18 $66.70 $230 565 565 565 $20 hn Parker Medicare 401(k) Charitable Gross Federal Deduction Cont Earnings Income Tax Income Tax Security Tax Tax 5735.93 $0 $735.93 S0 5735.93 $0 226.44S0 $283.05$0 $260 $260 $260 $80 $100 er$50,750.05 $1,035.18 $2,537 47 $3,14652 na $50,7s0.os $11,035.18$2,537.47 $3,146.52 $50,75005 $ 5739. $15615.40 $3.395.44 $19,519.25 $4,244.30 11,035.18 $2,537 47 $1,667.76 $780.76 S0 975.95 S 228 Payrol Accounting Chapter 7 Comprenensve Pierre Sternberg Gross Earnings income Tax Income Tax security Tax Tax Federal State Medicare 401() 1st quarter so 2nd quarter $O rd quarter $0 October $0 so so so so 50 so $31.23 So so November $2.1538s $228.94 $106 62 $133 54 $21.54 Note that all tax payments and filings are made on the due date. Based on the data provided here, you we complete the following 1. Establish an employee earnings record for each of the company's four employees. Complete the top port of each record 2. Establish and complete the payroll register for each weekly pay period during December. When federal income tax withholding, use the withholding tables where possible, and refer to the percemtage 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% ofeach employee's taxable pay (whichis the same as taxable pay for FWT). Recall that state income tax withholding would ordinarily be calculated the applicable state's withholding tables. Payroll checks are remitted to the employees in the same order one app ker, Sternberg) each pay period and are written from a bank account that isd Thre solely for these payments. The first payroll check written in December is check #762. Note that all charitable are 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 compensated via an hourly wage. employees wb Weekly Hours Worked meand I Somerse designe n 2018 Allison Harrison 37 41 Hunter Cranston 40 38 Weekly Start Date December 1 December 8 December 15 December 22 43.5 WARNING! The above dates are weekly start dates. Refer to a calendar to determine the weety 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 employe caring records for December for each of deductions from the payroll register appropriately across the associated columns within the employet records. If directed to do so by your instructor, record the necessary journal entries for each pay pe vol. With.Number Swt 226 Payroll Accounting chagter 7. Comprenensive One-Month Project NOTE! Templates needed to complete these exercises are included in the for this course Elipses Corp is a small business that operates in Herndon, VA. The Herndon, VA 20170. Its federal Employer Identification Number is 77-777777, and its all tax forms, is John Parker (telephone 8571-555-0073) The company does not wish to name designee on forms s located at 10 Period Lane, its president, who signa Duing 2018 four individuals are employed by Ellipses Corp. These employees are as follows Social Security Federal WH State W/H Marital Name Address Munter Cranston 85 Southern Road Herndon, VA 20170 Allison Harrison 203A Pine Court m7-7777 Herndon, VA 20170 John Parker 444-44-4444 212 Tradition Lane Herndon, VA 20170 single 333-33-33332 Pierre Sternberg 41 Seward Boulevard Married Herndon, VA 20170o 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. All employees of Elipses 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 Elipses Corp. is 3.1%, while the SUTA wage base in Virginia is $8,000. Earnings and voluntary deduction information for each of the four employees is as follows Regular Wage Rate Salary Weekly 401(k) Weekly Charitable Contribution Annual Name Hunter Cranston $15/hour Allison Harrison $23/hour Deduction 6% of gross pay 5%Of gross pay N/A N/A $203,000.20 N/A |$5 John Parker N/A $20 11% of gross pay | N/A Pierre Sternberg N/A $112.000.20 One Month Project 227 f tbe year have passed, and all payrol related activity has been properly accounted for as of the mntse that no paychecks were distributed on 1/1/2018 (as these checks were written and Ple 2017 instead), resulting in the distribution of checks on 13 pay dates during the frst 12arach of the four employees for the first three quarters of the year, as well as for the f October and November, is as follows State Social Medicare 4010k) Charitable Income Tax Income Tax Security Tax Tax Earnings Deduction Cont. 00 5234536 60460$13 10 46865 $483.60 $113.10 $468 $366.60 $366.60 $112.80 $14 $483 60 $113.10$468 $113.10 $468 $34 80 :S144 $43.50 $180 565 $483.60 $148.80 $186 572 $20 $25 State Social Medicare 401(k) Gross Earnings uicome Tax Income Tax Security Tax Tax Deduction Cont. quaer $11,960 $429 anr$11,960 $429 dquater $11,960 $429 tber $3,680 $132 vember $4,600 $165 $568.10 $568.10 $568.10 $174.80 $218.50 $741.52 5741.52 $741.52 $228.16 $285.20 $173.42 $598 $173.42 $598 $173.42 $598 $53.36 $18 $66.70 $230 565 565 565 $20 hn Parker Medicare 401(k) Charitable Gross Federal Deduction Cont Earnings Income Tax Income Tax Security Tax Tax 5735.93 $0 $735.93 S0 5735.93 $0 226.44S0 $283.05$0 $260 $260 $260 $80 $100 er$50,750.05 $1,035.18 $2,537 47 $3,14652 na $50,7s0.os $11,035.18$2,537.47 $3,146.52 $50,75005 $ 5739. $15615.40 $3.395.44 $19,519.25 $4,244.30 11,035.18 $2,537 47 $1,667.76 $780.76 S0 975.95 S 228 Payrol Accounting Chapter 7 Comprenensve Pierre Sternberg Gross Earnings income Tax Income Tax security Tax Tax Federal State Medicare 401() 1st quarter so 2nd quarter $O rd quarter $0 October $0 so so so so 50 so $31.23 So so November $2.1538s $228.94 $106 62 $133 54 $21.54 Note that all tax payments and filings are made on the due date. Based on the data provided here, you we complete the following 1. Establish an employee earnings record for each of the company's four employees. Complete the top port of each record 2. Establish and complete the payroll register for each weekly pay period during December. When federal income tax withholding, use the withholding tables where possible, and refer to the percemtage 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% ofeach employee's taxable pay (whichis the same as taxable pay for FWT). Recall that state income tax withholding would ordinarily be calculated the applicable state's withholding tables. Payroll checks are remitted to the employees in the same order one app ker, Sternberg) each pay period and are written from a bank account that isd Thre solely for these payments. The first payroll check written in December is check #762. Note that all charitable are 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 compensated via an hourly wage. employees wb Weekly Hours Worked meand I Somerse designe n 2018 Allison Harrison 37 41 Hunter Cranston 40 38 Weekly Start Date December 1 December 8 December 15 December 22 43.5 WARNING! The above dates are weekly start dates. Refer to a calendar to determine the weety 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 employe caring records for December for each of deductions from the payroll register appropriately across the associated columns within the employet records. If directed to do so by your instructor, record the necessary journal entries for each pay pe vol. With.Number Swt