Appendix A Continuing Payroll Project: Wayland Custom Woodworking...
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Appendix A Continuing Payroll Project: Wayland Custom Woodworking (3 Months, Part 2) The following information applies to the questions displayed below Wayland Custom Woodworking is a firm that manufactures custom cabinets and woodwork for business and residential customers. Students will have the opportunity to establish payroll records and to complete a month of payroll information for Wayland. Wayland Custom Woodworking is located at 1716 Nichol Street, Logan, Utah, 84321, phone number 435-555- 9877. The owner is Mark Wayland. Wayland's EIN is 91-7444533, and the Utah Employer Account Number is 999-9290-1. Wayland has determined it will pay their employees on a semimonthly basis. Federal income tax should be computed using the percentage method. The SUTA (UI) rate for Wayland Custom Woodworking is 2.6 percent on the first $33100 The state withholding rate is 5.0 percent for all income levels and marital statuses. For Part 2 of this project, you will use the fourth quarter payroll information that you calculated in Part 1 to complete the following tax forms for Wayland Custom Woodworking: U.S. Form 941 U.S. Form 940 Utah Form TC-941 Utah Form 33H Form W-2s for all 6 employees Form W-3 for WCW Employer amounts for health coverage should be reported as 1.5 times the employee's premium in Box 12, using Code DD. Specific instructions on how to complete each form can be found within the individual forms themselves. The employee information for Wayland has been presented again below, for convenience. Appendix A Continuing Payroll Project: Wayland Custom Woodworking (3 Months, Part 2) The following information applies to the questions displayed below Wayland Custom Woodworking is a firm that manufactures custom cabinets and woodwork for business and residential customers. Students will have the opportunity to establish payroll records and to complete a month of payroll information for Wayland. Wayland Custom Woodworking is located at 1716 Nichol Street, Logan, Utah, 84321, phone number 435-555- 9877. The owner is Mark Wayland. Wayland's EIN is 91-7444533, and the Utah Employer Account Number is 999-9290-1. Wayland has determined it will pay their employees on a semimonthly basis. Federal income tax should be computed using the percentage method. The SUTA (UI) rate for Wayland Custom Woodworking is 2.6 percent on the first $33100 The state withholding rate is 5.0 percent for all income levels and marital statuses. For Part 2 of this project, you will use the fourth quarter payroll information that you calculated in Part 1 to complete the following tax forms for Wayland Custom Woodworking: U.S. Form 941 U.S. Form 940 Utah Form TC-941 Utah Form 33H Form W-2s for all 6 employees Form W-3 for WCW Employer amounts for health coverage should be reported as 1.5 times the employee's premium in Box 12, using Code DD. Specific instructions on how to complete each form can be found within the individual forms themselves. The employee information for Wayland has been presented again below, for convenience
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