1. On October 15, the firm made a deposit through EFTPS for the federal income tax withheld...

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1. On October 15, the firm made a deposit through EFTPS for the federal income tax withheld and the FICA tax (both employees' withholding and employer's matching portion). Based on your computations in Problem 11.2B, record the issuance of the check in general journal form. Use journal page 31.

2. Complete Form 941 in accordance with the discussions in this chapter and the instructions on the form. Use a 12.4 percent social security rate and a 2.9 percent Medicare rate in computations. Use the following address for the company: 12001 Pioneer Blvd., Artesia, CA 90650. The firm's phone number is 562-860-5451. Use 75-5555555 as the employer identification number. Date the return October 31, 2019.

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What total taxes were deposited with the IRS for the quarter ended September 30, 2019?

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GENERAL JOURNAL PAGE 31 DATE DESCRIPTION POST REF DEBIT CREDIT 2019 1 Oct 15 Employee Income Tax Payable 9 1 5 00 2 Social Security Tax Payable 1 2 7 7 20 3 Medicare Tax Payable 2 9 8 70 4 Cash 2 4 9 ...View the full answer

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College Accounting A Contemporary Approach

ISBN: 978-0077639730

4th edition

Authors: David Haddock, John Price, Michael Farina

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Question Posted: Jun 24, 2017 08:49 AM

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1. On October 15, the firm made a deposit through EFTPS for the federal income tax withheld...

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GENERAL JOURNAL PAGE 31 DATE DESCRIPTION POST REF DEBIT CREDIT 2019 1 Oct 15 Employee Income Tax Payable 9 1 5 00 2 Social Security Tax Payable 1 2 7 7 20 3 Medicare Tax Payable 2 9 8 70 4 Cash 2 4 9 ...View the full answer

College Accounting A Contemporary Approach

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