User Account

All Pages

The wage bracket method is used to determine federal income

Assignment Help Accounting Basics
Reference no: EM13913996

During the first week of 2014, the Payroll Department of Omni 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, Frank Kent, and is prepared by Vince Roper.

Company Information:
Address: 4800 River Road

Philadelphia, PA 19113 5548 Pennsylvania state identification number 00 0 1066
Telephone number: (215) 555 0017 Federal identification number: 00 0000972
Fax number: (215) 555 0010 Philadelphia identification number: 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.






(Continue to next page)


Must use percentage method to calculate federal income tax. 

Reference no: EM13913996

Questions Cloud

Calculate the maximum speed : The centre of gravity of the caravan is 1.2 m above the road. Half the track (distance laterally between wheels) is 0.85 m. Calculate the maximum speed in m/s that the caravan can go round the corner without overturning or sliding.
Justify the selection devices you use : Provide a selection system or processes you would use to recruit and select the required people, along with a justification for this system. Describe and justify the criteria, characteristics and skills used for selection. Justify the selection devi..
What is difference in personnel involved and selling process : According to our course materials and other sources, how is selling to a business different from selling to a consumer? What is the difference in personnel involved and the selling process? How might the sale of consumer products also be considere..
Calculate the gain recorded on the sale : Calculate the gain recorded on the sale-Enter your answer as a number-Do not use a minus sign, decimals, or type the word gain after your answer.
The wage bracket method is used to determine federal income : During the first week of 2014, the Payroll Department of Omni Corporation is preparing the Forms W 2 for distribution to its employees along with their payroll checks on January 3.
What is business to business marketing : What is business to business marketing and how is it different from business-to-consumer (B2C) marketing? What is the role of the internet in today's business marketing environment? If you have ever purchased anything for your company, what rules ..
Determine the torque : A crank on an engine has rotating parts of mass 4.25kg, with a radius of gyration k = 59 mm. Determine the torque in Nm required to overcome the inertia of the rotating parts when angular acceleration is 36 rads/s2.
Field corporation produces : Field Corporation produces and sells two products. In the most recent month, Product C66G had sales of $20,000 and variable expenses of $7,200. Product U11T had sales of $19,000, and variable expenses of $8,400
The objections relating to loyalty to a present supplier is : The objections relating to loyalty to a present supplier is called reseller objection

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the premium over market value that talmadge

Talmadge Company is acquiring the target Tyler, Inc in a merger. Tyler's market valuation is $6.0 bln , and its equity value on the balance sheet before any adjustments is 3.0 bln.

  The bonds are callable at 101 ie at 101 of face amount and

24800 were incurred in connection with the issue. interest on the bonds is payable annually each december 31. the 24800

  For each of the 4 accounts below prepare an example of a

for each of the 4 accounts below prepare an example of a journal entry that would cause the account to be 1 debited and

  Process from the data on the job cost sheets

Prepare the summary entries to record the assignment of costs to Work in Process from the data on the job cost sheets.

  The statement of shareholders equity reveals reductions of

the comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for metagrobolize

  Jones and lange refiners began business on july 1 the

jones and lange refiners began business on july 1. the following operations data are available for july and the one

  Depreciation expense per tax return

For the year ended December 31, Laramie Industries has a depreciation expense per its tax return greater than its financial statement tax expense, and had recorded warranty expense (associated with a one-year guarantee on its products) in its fina..

  Unadjusted trial balance

Part 1:   Prepare adjusting journal entries using the unadjusted trial balance on the previous page and the information provided below. Use only the account names provided on the previous page (do not create any new account names).

  Compute the ending balances for the two t-accounts and

brubacher service company sells for cash and on account. by selling on credit brubacher cannot expect to collect 100 of

  What are some business decisions that managers could make

what are some business decisions that managers could make? what tools will they use to make recommendations regarding

  What would be cost per equivalent unit for conversion costs

Hardouin Company uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 22,000 units in its beginning work in process inventory that were 20% complete with re..

  Examining the statement

After examining the statement, Moy said to Stein, "Sol, the statement seems to be well done, but what I need is why I don't have enough cash to pay my bills this month. You show that I earned $120,000 in 2010, but I have only $24,000 in the bank. ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd