Question:
For the third quarter of the year, Johnson Company, 415 Circle Avenue, Chicago, Illinois 60652, received Form 941 from the Internal Revenue Service. The identification number of Johnson Company is 91-4213171. Its payroll for the quarter ended September 30 is as follows:
The company has had six employees throughout the year. Assume that the FICA Social Security (employer) rate is 6.2 percent, the FICA Social Security (employee) rate is 6.2 percent on the first $118,500, and 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 Johnson Company.
Transcribed Image Text:
TAXABLE EARNINGS DEDUCTIONS TOTAL SOCIAL FEDERAL SOCIAL MEDICARE TAX NAME 5 Brown, D. D 7 Domzalski, T. P 14,665.00 9 Tyler, J.L MEDICARE | INCOME TAX SECURITY TAX 1,031.00 1,148.74 909.23 850.70 1,079.17 16,629.00 18,528.00 16,629.00 18,528.00 14,665.00 16,629.00 18,528.00 14,665.00 2,494.00 2,780.00 2,100.00 2,058.00 241.12 Grisson, R. O. 13,721.00 13,721.00 Valdez, K. R 13,721.00 17,406.00 15,287.00 96,236.00 212.64 198.95 252.39 17,406.00 17,406.00 10 6255.0035 235.0035 235.0014 237.00 5 9663395.4t2 96,236.00 96,236.00 14,237.00 5,966.63 1,395.42 12 On August 15 for the On September 15 for the August Payroll On October 15 for the July Payroll Employees' income September Payroll Employes ingomeS4745.00 Employees' Social Employees' income tax withheld tax withheld Employees' Social Security and $4,370.00 $5,122.00 tax withheld Employees' Social Security and Medicare tax Medicare tax withheld Medicare tax withheld 2,259.76 withheld 2,326.28 2,776.01 Employer's Social Security and Medicare tax contributed Employer's Social Employer's Social Security and Medicare tax Medicare tax contributed 2,259.76 $8,889.52 2,326.28 $9,774.56 2,776.01 $10,297.02