Answer Happy

During the first full week of 20-, the Payroll Department of Quigley Corporation is preparing the Forms W.2 for distribution to its employees along with their payroll checks on January 10. In this problem, you will complete six of the forms in order to gain some experience in recording the different kinds of information required Assume each employee earned the same weekly salary for each of the 52 paydays in 20- (the previous year). Using the following information obtained from the personnel and payroll records of the firm complete copy of the four Forms W2 reproduced below. On the second half of the problem (PR 04:13A. PART2) you will complete the other two W2s and the W-3. The form is to be signed by the president, Kenneth L. Ford, and is prepared by Ralph I. Volpe. Company Information: Address: 4800 River Road 00-0-1066 Philadelphia, PA 19113-5548 Telephone number: (215) 555-0017 Fax number (215) 555-0010 Pennsylvania state identification number: Federal identification number Philadelphia identification number 00-0000972 0001895 Income Tax Information: The wage bracket method is used to determine federal income tax withholding, Calculate the annual federal income tax withheld by using the weekly wage bracket table and multiply the answer by 52. The other taxes withheld are shown below Employee Data Payroll Data Annual Taxes Withheld See example of Kelly B. Roach's completed Form W 2 below. Kelly Roach Single Social security tax withheld $2,305.16 S4 Gradison Place $715 per week Medicare tax withhell 539.24 Philadelphia, PA 191134054 SS#: 000-00-4310 State income tax withheld 1,141.40 Deduction for 401k plans/week Local income tax withheld 1.4.3936
22.36 State unemployment tax withheld" Social security tax withheld Medicare tax withheld Ralph 1. Volpe S6 Andrews Court, Apt. 7 Philadelphia, PA 19103-3356 2,530.84 591.76 1,253,20 1,580.28 Married filing jointly $785 per week 55:000-00-8804 Dependent care payment: $950 $70/week 401(K) Single $885 per week SS#: 000-00-3316 Union dues withheld: $102 24.44 2,853.74 Randi A Myer 770 Camac Street Philadelphia, PA 19101-3770 667.16 State income tax withheld Local income tax withheld State unemployment tax withheld" Social security tax withheld Medicare tax withheld State income tax withheld Local income tax withheld State unemployment tax withheld" Social security tax withheld Medicare tax withheld 1,412.84 1.781.52 27.56 Kenneth T. Ford 338 North Side Avenue Philadelphia, PA 19130-6638 State income tax withheld Married filing jointly $1,350 per week SS: 000-00-6839 Cost of group term life insurance exceeding $50,000: $262.75 $100/week 401(k) Married Wing jointly $820 per week 4,368,69 1,021.97 2,155.40 2,717.52 42.12 Local income tax withheld State unemployment tax withheld" Chrissy C Carman 2,643.68 61828 4900 Gladwynne Terrace Philadelphia, PA 19127-0049 Social secunty tax withheld Medicare tax withheld State income tax withheld Local income tax withheld SS 000 00.5771 1,308.84 Union dues withheld: 5102 1,650.48
State unemployment tax withheld" 25.48 Hal B. Zuber Single Social security tax withheld 2,546.96 480-A Hopkinson Tower $790 per week Medicare tax withheld 595.92 Philadelphia, PA 19101-3301 SSE: 000-00-8703 State income tax withheld 1,761.00 Educational assistance payments Local income tax withheld 1:590 16 Gob required): $675 State unemployment tax withheld" 24.44 $50/week 401(K) The cost of excess group term life insurance is added to gross wages for federal income tax, Socal Security, and Medicare. Employers withhold ASDI and Ht tax on these amounts but are not required to withhold federal income tax. The cost is not added to gross wages for state and local taxes; therefore, it is not subject to those taxes (See Figure 4,5) **State unemployment tax withheld for Pennsylvania lubeled as PA Sul on Form W2 Box 14, an amount box does not require an entry, leave it blank. Round your calculations and final answers to the nearest cent. You must enter in the hyphens in the Jocial security numbers, employer identification number, etc. As we go to press, the federal income tax rates for 2022 are being determined by budget talks in Washington and not available for publication. For this edition, the 2021 federal income tax tables for Manual Systems with Forms W4 from 2020 or later with Standard Withholding and 2021 FICA rates have been used. Click here to access the Wage Bracket Method Tables a Employee's social For Official Use Only security number 22222 Void OMB No. 1545 0008 000-00-4310 b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld
b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 00-0000972 c Employer's name, address, and ZIP code $34,500.00 3 social secunty wages $2.496.00 1 Social security tax withheld 537.180.00 5 Medicare wages and tips $2,305.16 6 Medicare tax withheld Quigley Corporation 1800 River Road Philadelphia, PA 19113-5548 $37.150.00 7 Social security tips 5539.24 & Allocated tips d Control number 10 Dependent care benefits e Employee's furst name and initiat Last name Sult 11 Nonqualified plans 12a See instructions for box 12 Kelly B. Roach 13 Retirement plan $2,600.00 54 Gradison Place 14 Other Philadelphia, PA 19113-4054 Code D 12b Code 12 Code 120 Code PA SUI 22:36 Employee's address and ZIP code
15 State Employer's state ID number 16 State wages, tips, etc 17 State income tax 18 Local wages, tips, etc 19 Local income tax 20 Locality name PA 00-0-1066 $37.180.00 $1,141.40 $37,180,00 $1,439,36 Phila Form W 2 Wage and Tax Statement 20 Copy A For Social Security Administration - Send this entire page with Form W3 to the Social Security Administration photocopies are not acceptable. Weekly salary $715 401(k) contribution $50) 52 weeks Federal income tax withheld $48.00 X 52 weeks Department of the Treasury - Internal Revenue Service For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions Cat No. 101340 a Employee's social fecurity number For Official Use Only 22222 Void 000-00-8804 OMB No. 1545 0008 b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 00 0000972 Employer's name, address, and ZIP code 3 social security wages 4 Social security tax withheld 5 Medicare wages and tips 6 Medicare withheld Quigley Corporation 4800 River Road 7 Social security in # Allocated to
elook 100 Philadelphia, PA 19113-5548 7 Social security tips 8 Allocated tips d Control number 10 Dependent care benefits e Employee's first name and initial Last name Sutt. 11 Nonqualified plans 124 See instructions for box 12 Ralph Volpe Code 13 56 Andrews Court, Apt. 7 126 Code Philadelphia, PA 191033356 14 Other 126 Employee's address and ZIP code Code 12d Code 15 State Employer's state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 L PA 00-0-1066 Phu Form W 2 Wage and Tax Statement 20 Department of the Treasury - Internal For Privacy Act and Paperwc-
Form W2 wage and Tax Statement 20 Copy A For Social Security Administration - Send this entire page with Form W3 to the Social Security Administration photocopies are not acceptable For Privacy Act and Paperwor Act Notice, see the separate i Cat Source: Internal Revenue Service a Employee's social vecurity number For Official Use Only 22222 Volda 000-00-3316 OMB No. 1545 0008 b Employer identification number (EIN) 1 Wages, tips, other compensation ? Federal income tax withheld 00-0000972 c Employer's name, address, and ZIP code Social security wages 4 Social security tax withheld 5 Medicare wages and tips 6 Medicare tax withheld Quigley Corporation 4800 River Road Philadelphia, PA 19113-5548 7 social security tips Allocated tips d Control number 10 Dependent care benes
Employee's first name and initial Last name Sull 11 Nonqualified plans 12a See instructions for box 12 Randi A Myer 13 code 770 Camac Street 12b Code Philadelphia, PA 19101 3770 14 Other 12 Employee's address and ZIP code Code 12d Code State Employer's state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc 19 Local income tax 20 Loc A 00-0 1066 Phila W-2 Wage and Tax Statement 20 opy A For Social Security Administration - Send this entre page with Em w 3 to the Social Secunty Administration photocopies are not acceptable Department of the Treasury Internal Res For Privacy Act and Paperwor Act Notice, see the separate i Cat urce: Internal Revenue Service
CBOOK a Employee's social security number For Official Use Only 22222 Void 000-00-6839 OMB No. 1545 000 b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 00-0000972 c Employer's name, address, and ZIP code 3 Social security wages 4 Social security tax withheld 5 Medicare wages and tips 6 Medicare tax withheld Quigley Corporation 4800 River Road Philadelphia, PA 19113-5548 7 Social security tips Allocated tips d Control number 10 Dependent care benefits e Employee's first name and initial Last name Sull 11 Nonqualified plans 12a See instructions for box 12 Kenneth T Ford Code 13 12b
Kenneth Ford Code 13 125 Code 338 North Side Avenue Philadelphia, PA 19130 6638 14 Other Employee's address and ZIP code 126 Code 120 Code 15 State Employer's state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc 19 Local income tax 20 Loc PA 00-0-1066 Phila FormW 2 Wage and Tax Statement 20 Copy A For Social Security Administration - Send this entire page with Form W3 to the Social Security Administration, photocopies are not acceptable Department of the Treasury - Internal Res For Privacy Act and Paperwor Act Notice, see the separate i Cat