Question: Using the information below, please complete a Form 940 for Black's Sporting Goods for the current year. Additional information needed to complete the form is
Using the information below, please complete a Form 940 for
Black's
Sporting Goods for the current year. Additional information needed to complete the form is as follows:
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Part 1
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(Click the icon to view the employees' payroll information for October, November, and December.)
(If a box is not used in the table leave the box empty; do not enter a zero. Round your calculations to the nearest cent as needed.)
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Part 1
| Part 2: Determine your FUTA tax before adjustments. If any line does NOT apply, leave it blank. | ||||||||||||
| 3 | Total payments to all employees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3 |
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| 4 | Payments exempt from FUTA tax. . . . . . . . . . . . . . . . . . . . . . . . . . . | 4 |
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| Check all that apply: | 4a |
| Fringe benefits | 4c |
| Retirement/Pension | 4e |
| Other | ||
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| 4b |
| Group-term life insurance | 4d |
| Dependent care |
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Payroll records
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| October |
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| FICA | Federal | |
| Employee | Monthly Earnings | YTD Earnings | OASDI | Medicare | Income Tax | ||
| Tom Duncan | $2,800 | $120,940 | $173.60 | $40.60 | $530.00 | ||
| Ashley King | 3,500 | 39,600 | 217.00 | 50.75 | 424.00 | ||
| Tara Thomas | 3,800 |
| 44,100 |
| 235.60 | 55.10 | 539.00 |
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| $10,100 |
| $204,640 |
| $626.20 | $146.45 | $1,493.00 |
| November |
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| FICA | Federal | |
| Employee | Monthly Earnings | YTD Earnings | OASDI | Medicare | Income Tax | ||
| Tom Duncan | $3,120 | $124,060 | $193.44 | $45.24 | $598.00 | ||
| Ashley King | 3,800 | 43,400 | 235.60 | 55.10 | 465.00 | ||
| Tara Thomas | 3,740 |
| 47,840 |
| 231.88 | 54.23 | 557.00 |
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| $10,660 |
| $215,300 |
| $660.92 | $154.57 | $1,620.00 |
| December |
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| FICA | Federal | ||||||
| Employee | Monthly Earnings | YTD Earnings | OASDI | Medicare | Income Tax | ||
| Tom Duncan | $4,260 | $128,320 | $194.68 | $61.77 | $872.00 | ||
| Ashley King | 3,800 | 47,200 | 235.60 | 55.10 | 483.00 | ||
| Tara Thomas | 4,320 |
| 52,160 |
| 267.84 | 62.64 | 709.00 |
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| $12,380 |
| $227,680 |
| $698.12 | $179.51 | $2,064.00 |
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