PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN: 9781337619783
Author: BIEG
Publisher: CENGAGE L
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Chapter 3, Problem 15PA
a.
To determine
Complete Schedule B of Form 941 for the first quarter for Person SH of Company S.
b.
To determine
List the due dates for each deposit in the first quarter.
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On December 31, 2019, Reuter Company has a balance of $98.75 in the FUTA taxes payable account. This representsthe employer’s liability for the fourth quarter taxes. Journalize the entry Reuter Company should make in January2020 to record the last transfer (payment) of FUTA taxes for 2019.
During the fourth quarter of 2019, there were seven biweekly paydays on Friday (October 4, 18; November 1, 15, 29;December 13, 27) for Quality Repairs. Using the forms supplied on pages 4-46 to 4-49, complete the following forthe fourth quarter:a. Complete the Federal Deposit Information Worksheets reflecting electronic deposits (monthly depositor).The employer’s phone number is (501) 555-7331. Federal deposit liability each pay, $677.68.b. Employer’s Quarterly Federal Tax Return, Form 941. The form is signed by you as president on January31, 2020.c. Employer’s Report of State Income Tax Withheld for the quarter, due on or before January 31, 2020.Quarterly Payroll DataTotal Earnings 5 Employees OASDI HI FIT SIT$18,750.00 $1,162.50 $271.88 $1,875.00 $1,312.50Employer’s OASDI $1,162.50Employer’s HI 271.88Federal deposit liability each pay 677.68
Complete Form 941 for the 2nd quarter of 2020 for Smith's Distributing Co. (employer identification #11-3333333). Assume that Smith's Distributing (located at 819 Main Street, Fremont, CA
94538) chooses to complete and mail Form 941 on the due date. Based on the lookback period, Smith's Distributing is a monthly depositor. Assume that all necessary deposits were made on a
timely basis and that the employer made deposits equal to the total amount owed for the quarter. All five employees worked during each of the three months, and the company does not choose to
allow a third party to discuss the form with the IRS. Note that the form is signed by the company's president, Juan Wilhelm (telephone #510-555-8293). Second quarter earnings, and associated
taxes withheld from employee earnings, are as follows.
Notes:
• For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
April Taxes May Taxes June…
Chapter 3 Solutions
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Ch. 3 - Which of the following are covered by FICA...Ch. 3 - Prob. 2SSQCh. 3 - Prob. 3SSQCh. 3 - Lori Kinmark works as a jeweler for a local...Ch. 3 - _____1. Johnson Industries, a semiweekly...Ch. 3 - _____1. Employees FICA tax rates A. Severance pay...Ch. 3 - For social security purposes, what conditions must...Ch. 3 - Prob. 2QRCh. 3 - Prob. 3QRCh. 3 - Prob. 4QR
Ch. 3 - What are an employers responsibilities for FICA...Ch. 3 - Prob. 6QRCh. 3 - Prob. 7QRCh. 3 - Prob. 8QRCh. 3 - Prob. 9QRCh. 3 - Prob. 10QRCh. 3 - Prob. 11QRCh. 3 - Prob. 12QRCh. 3 - Prob. 13QRCh. 3 - Prob. 14QRCh. 3 - Prob. 15QRCh. 3 - During the year, employee Sean Matthews earned...Ch. 3 - In order to improve the cash flow of the company,...Ch. 3 - Prob. 3QDCh. 3 - Prob. 4QDCh. 3 - The biweekly taxable wages for the employees of...Ch. 3 - During 2019, Rachael Parkins, president of...Ch. 3 - Prob. 3PACh. 3 - Ken Gorman is a maitre d at Carmel Dinner Club. On...Ch. 3 - In 20-- the annual salaries paid each of the...Ch. 3 - Audrey Martin and Beth James are partners in the...Ch. 3 - Prob. 7PACh. 3 - Ralph Henwood was paid a salary of 64,600 during...Ch. 3 - Empty Fields Company pays its salaried employees...Ch. 3 - The monthly and hourly wage schedule for the...Ch. 3 - Prob. 11PACh. 3 - Prob. 12PACh. 3 - Prob. 13PACh. 3 - During the third calendar quarter of 20--, Bayview...Ch. 3 - Prob. 15PACh. 3 - Prob. 16PACh. 3 - Prob. 17PACh. 3 - Prob. 1PBCh. 3 - During 2019, Matti Conner, president of Maggert...Ch. 3 - Prob. 3PBCh. 3 - Moisa Evans is a maitre d at Red Rock Club. On...Ch. 3 - In 20-- the annual salaries paid each of the...Ch. 3 - Amanda Autry and Carley Wilson are partners in A ...Ch. 3 - Prob. 7PBCh. 3 - George Parker was paid a salary of 74,700 during...Ch. 3 - Prob. 9PBCh. 3 - The monthly and hourly wage schedule for the...Ch. 3 - Prob. 11PBCh. 3 - Prob. 12PBCh. 3 - Prob. 13PBCh. 3 - During the third calendar quarter of 20--, the...Ch. 3 - Prob. 15PBCh. 3 - Prob. 16PBCh. 3 - Prob. 17PBCh. 3 - Your assistant has just completed a rough draft of...Ch. 3 - Prob. 2CP
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