For the third quarter of the year, Johnson Company, 415 Circle Avenue, Chicago, Illinois 60652, received Form
Question:
The company has had six employees throughout the year. Assume that the FICA Social Security (employer) rate is 6.2 percent and the FICA Social Security (employee) rate is 4.2 percent on the first $ 106,800 and that the Medicare tax is 1.45 percent of all earnings. The employer matches the employees FICA Medicare taxes. There are no taxable tips, adjustments, backup withholding, or earned income credits. Johnson Company has submitted the following federal tax deposits and written the accompanying checks:
Required
Complete Part 1 of Form 941 for the third quarter for JohnsonCompany.
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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