Assume the following data for Heart Tattoo Parlor for the quarter ended September 30. Number of employees
Question:
Assume the following data for Heart Tattoo Parlor for the quarter ended September 30.
- Number of employees for third quarter: 7
- Gross earnings $64,542.00
- Employee FICA taxes $4,937.46
- Federal income tax $13,471.00
- State income tax $2,062.20
- Employer FICA taxes $4,937.46
- Federal unemployment tax $16.40
- State unemployment tax $147.64
- Monthly federal income tax and FICA tax liability: July $8,632.15, August $7,924.17, and September $6,789.60
- Federal income tax and FICA tax total monthly deposits for third quarter: $23,715.12
What amounts would be entered on Form 941 for the following line items?
Line 3: Federal income tax withheld.
Line 5a (Column 2): Taxable Social Security wages.
Line 5c (Column 2): Taxable Medicare wages and tips.
Line 6: Total taxes before adjustments.
Line 11: Total deposits for this quarter.
Line 12: Balance due.
Line 13: Overpayment.
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Line 3 Federal income tax withheld 1347100 Line 5a Column 2 Taxable Social Sec...View the full answer
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Related Book For 
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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