At the end of November 202 Upper X, the total amount of Social Security, $ 490, and Medicare, $ 275, was withheld as tax deductions from the employees of Rapid Waters, Inc. Federal income tax of $ 2 comma 980 was also deducted from their paychecks. Rapid Waters is classified as a monthly depositor of Form 941 taxes. Indicate when this payroll tax deposit is due and provide a general journal entry to record the payment. 

Question:

content area bottom Part 1 Since Rapid Waters Inc. is a monthly depositor, its deposits will be due?

Answer rating: 100% (QA)

As Rapid Waters Inc is a monthly depositor of Form 941 taxes the payroll tax deposit for ... View the full answer