For the third quarter of the year, Fisher Company, 6227 Fleming P.O. 5 Avenue, Chicago, Illinois 60652,

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For the third quarter of the year, Fisher Company, 6227 Fleming P.O. 5 Avenue, Chicago, Illinois 60652, received Form 941 from the Internal Revenue Service. The identification number of Fisher Company is 76-421317. Its payroll for the quarter ended September 30 is as follows:

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The company has had six employees throughout the year. Assume that the Social Security tax is 6.2 percent of the first $62,700, and that the Medicare tax is 1.45 percent of all earnings. The employer matches the employees’ FICA (Social Secu¬
rity and Medicare) taxes. There are no taxable tips, adjustments, backup with¬
holding, or earned income credits. Fisher Company has submitted the following federal tax deposits and written the accompanying checks:

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Instructions Check Figure Complete Form 941 dated October 31 for the owner, Brenda Fisher. Total taxes, $9,005.46

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College Accounting Chapters 1-26

ISBN: 9780395796993

6th Edition

Authors: Douglas J. McQuaig, Patricia A. Bille

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