Vulcan Company is a monthly depositor whose tax liability for March 2016 is $2,505. 1. What is

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Vulcan Company is a monthly depositor whose tax liability for March 2016 is $2,505.

1. What is the due date for the deposit of these taxes? ..._________

2. Assume that no deposit was made until May 2. Compute the following penalties:

a. Penalty for failure to make timely deposit...............$________

b. Penalty for failure to fully pay tax........................$________

c. Interest on taxes due and unpaid..........................$________

d. Total penalty imposed......................................$________

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Payroll Accounting 2016

ISBN: 978-1337072649

26th edition

Authors: Bernard J. Bieg, Judith Toland

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