1 PREPARE JOURNAL ENTRY 2A PREPARE FORM 941 2B CONT PREPARING FORM 941 3 PREPARING SCHEDULE B OF FORM 941 4 Balance of Employee Income Tax Payable A payroll summary for Mark Consulting Company, owned by Mark Fronke, for the quarter ending June 30, 20X1, appears below The firm made the required tax deposits as follows a For April taxes, paid on May 15 b For May taxes, paid on June 17 Date Wages Paid April 8 15 22 29 May 5 12 19 26 Total Earnings $ 2,232 00 2,320 00 2,232 00 2,276 00 $ 9,060 00 $ 2,188 00 2,232 00 2,232 00 2,276 00 $ 8,928 00 $ 2,320 00 2,232 00 2,276 00 2,232 00 2,188 00 $ 11, 248 00 $ 29, 236 00 Social Security Tax Deducted $ 138 38 143 84 138 38 141 11 $ 561 71 $ 135 66 138 38 138 38 141 11 $ 553 53 $ 143 84 138 38 141 11 138 38 135 66 $ 697 37 $1,812 61 Medicare Tax Deducted $ 32 36 33 64 32 36 33 00 $131 36 $ 31 73 32 36 32 36 33 00 $129 45 $ 33 64 32 36 33 00 32 36 31 73 $ 163 09 $423 90 Income Tax Withheld $ 221 00 228 00 221 00 225 00 $ 895 00 $ 217 00 221 00 221 00 225 00 $ 884 00 228 00 221 00 225 00 221 00 217 00 $1,112 00 $ 2,891 00 Alto June 2 9 16 23 30 Total percent Social security Medicare FUTA SUTA 6 2 1 45 0 6 5 4 Required 1 On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month June 2 Complete Form 941 in accordance with the discussions in this chapter Use a 12 4 percent social security rate and a 2 9 percent Medicare rate in computations Use the following address for the company 2300 East Ocean Blvd , Long Beach, CA 90802 Use 75 4444444 as the employer identification number Date the return July 31, 20X1 Mr Fronke's phone number is 562 709 3654 Analyze What is the balance of the Employee Income Tax Payable account at July 15 Complete this question by entering your answers in the tabs below Reg 1 Req 2 941 Pg Req 2 941 Pg 1 2 Reg 2 Schedule B Analyze On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month June ) (Round your answers to 2 decimal places ) View transaction list Journal entry worksheet

Question

1  PREPARE JOURNAL ENTRY 2A  PREPARE FORM 941 2B  CONT  PREPARING FORM 941 3  PREPARING SCHEDULE B OF FORM 941 4  Balance of Employee Income Tax Payable A payroll summary for Mark Consulting Company, owned by Mark Fronke, for the quarter ending June 30, 20X1, appears below  The firm made the required tax deposits as follows  a  For April taxes, paid on May 15  b  For May taxes, paid on June 17  Date Wages Paid April 8 15 22 29 May 5 12 19 26 Total Earnings $ 2,232 00 2,320 00 2,232 00 2,276 00 $ 9,060 00 $ 2,188 00 2,232 00 2,232 00 2,276 00 $ 8,928 00 $ 2,320 00 2,232 00 2,276 00 2,232 00 2,188 00 $ 11, 248 00 $ 29, 236 00 Social Security Tax Deducted $ 138 38 143 84 138 38 141 11 $ 561 71 $ 135 66 138 38 138 38 141 11 $ 553 53 $ 143 84 138 38 141 11 138 38 135 66 $ 697 37 $1,812 61 Medicare Tax Deducted $ 32 36 33 64 32 36 33 00 $131 36 $ 31 73 32 36 32 36 33 00 $129 45 $ 33 64 32 36 33 00 32 36 31 73 $ 163 09 $423 90 Income Tax Withheld $ 221 00 228 00 221 00 225 00 $ 895 00 $ 217 00 221 00 221 00 225 00 $ 884 00 228 00 221 00 225 00 221 00 217 00 $1,112 00 $ 2,891 00 Alto June 2 9 16 23 30 Total percent Social security Medicare FUTA SUTA 6 2 1 45 0 6 5 4 Required  1  On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month  June   2  Complete Form 941 in accordance with the discussions in this chapter  Use a 12 4 percent social security rate and a 2 9 percent Medicare rate in computations  Use the following address for the company  2300 East Ocean Blvd , Long Beach, CA 90802  Use 75 4444444 as the employer identification number  Date the return July 31, 20X1  Mr  Fronke's phone number is 562 709 3654  Analyze  What is the balance of the Employee Income Tax Payable account at July 15  Complete this question by entering your answers in the tabs below  Reg 1 Req 2 941 Pg Req 2 941 Pg 1 2 Reg 2 Schedule B Analyze On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month  June )  (Round your answers to 2 decimal places ) View transaction list Journal entry worksheet

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1. PREPARE JOURNAL ENTRY 2A. PREPARE FORM 941 2B. CONT. PREPARING FORM 941 3. PREPARING SCHEDULE B OF FORM 941 4. Balance of Employee Income

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