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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
During the first week of 2014, the Payroll Department of Quigley Corporation is preparing the Forms W-2 for distribution to its employees along with their payroll checks on January 3. 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 2013. Using the following information obtained from the personnel and payroll records of the firm, complete Copy A of the six Forms W-2 reproduced on the following pages. Also complete Form W-3. The form is to be signed by the president, Kenneth T. Ford, and is prepared by Ralph I. Volpe.
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Company Information: |
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Address: 4800 River Road |
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Philadelphia, PA 19113-5548 |
Pennsylvania state identification number: |
00-0-1066 |
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Telephone number: (215) 555-0017 |
Federal identification number: |
00-0000972 |
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Fax number: (215) 555-0010 |
Philadelphia identification number: |
0001895 |
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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.
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Employee Data |
Payroll Data |
Annual Taxes Withheld |
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Kelly B. Roach |
Single, 1 allowance |
906.36 |
Social security tax withheld |
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54 Gradison Place |
$415 per week |
313.04 |
Medicare tax withheld |
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Philadelphia, PA 19113-4054 |
SS#: 000-00-4310 |
662.48 |
State income tax withheld |
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Deduction for 401(k) plan: $50/week |
847.60 |
Local income tax withheld |
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Ralph I. Volpe |
Married, 1 allowance |
1,059.24 |
Social security tax withheld |
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56 Andrews Court, Apt. 7 |
$485 per week |
365.56 |
Medicare tax withheld |
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Philadelphia, PA 19103-3356 |
SS#: 000-00-8804 |
774.28 |
State income tax withheld |
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Dependent care payment: $950 |
990.60 |
Local income tax withheld |
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$70/week—401(k) |
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Randi A. Myer |
Single, 0 allowances |
797.16 |
Social security tax withheld |
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770 Camac Street |
$365 per week |
275.08 |
Medicare tax withheld |
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Philadelphia, PA 19101-3770 |
SS#: 000-00-3316 |
582.92 |
State income tax withheld |
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Union dues withheld: $102 |
745.68 |
Local income tax withheld |
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Kenneth T. Ford |
Married, 7 allowances |
2,959.44 |
Social security tax withheld |
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338 North Side Avenue |
$1,350 per week |
1,021.96 |
Medicare tax withheld |
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Philadelphia, PA 19130-6638 |
SS#: 000-00-6839 |
2,155.40 |
State income tax withheld |
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Cost of group-term life insurance |
2,757.56 |
Local income tax withheld |
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exceeding $50,000: $262.75 |
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No income tax withheld on insurance |
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cost, but FICA taxes are withheld. |
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$100/week—401(k) |
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Chrissy C. Carman |
Married, 2 allowances |
698.88 |
Social security tax withheld |
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4900 Gladwynne Terrace |
$320 per week |
241.28 |
Medicare tax withheld |
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Philadelphia, PA 19127-0049 |
SS#: 000-00-5771 |
510.64 |
State income tax withheld |
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Union dues withheld: $102 |
653.64 |
Local income tax withheld |
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Hal B. Zuber |
Single, 1 allowance |
851.76 |
Social security tax withheld |
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480-A Hopkinson Tower |
$390 per week |
294.32 |
Medicare tax withheld |
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Philadelphia, PA 19101-3301 |
SS#: 000-00-8703 |
622.44 |
State income tax withheld |
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Educational assistance payments (job- |
796.64 |
Local income tax withheld |
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required): $675 |
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$50/week—401(k) |
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