13 Part 2 of 2 Required information [The following information applies to the questions displayed below] Certain transactions and procedures relating to federal and state unemployment taxes follow for Robin's Nest LLC, a retail store owned by Robin Roberts. The firm's address is 2007 Lovely Lane. Dallas, TX 75268-0967 The firm's phone number is 972-456-1200.The employer's federal and state identification numbers are 75-9462315 and 37-9462315, respectively. Carry out the procedures as instructed in each of the following steps 3.5 points Quarter Total Ended Mages Paid Mar. 31 5 25,200.00 State Mages Paid in Excess Unemployment of $7,000 Tax Paid 0- $ 420.40 Book June 30 P 10 10,800.00 10,000.00 Sept. 30 37,000.00 25,000.00 Dec 31 49,000.00 42,000,00 Totals $142,000.00 $27,000.00 $1,105.00 353.60 204.00 119.00 References Required: 1. Complete Form 940, the Employer's Annual Federal Unemployment Tax Return Assume that all wages have been paid and that all quarterly payments have been submitted to the state as required. The payroll information for 20X1 appears above. The federal tax deposits were submitted as follows: a deposit of $151.20 on April 21, a deposit of $124.80 on July 22, and a deposit of $72.00 on October 21 Date the unemployment tax return January 28, 20X2 A check for the balance due as per line 14, Part 4, will be sent with Form 940. 2. In general journal form, record issuance of a check on January 28, 202, for the balance of FUTA tax due for 20X1 Required information Form 940 for 20X1: Employer ID number (EIN-enter as x Trade name (if any) Address Employer's Annual Federal Unemployment (FUTA) Tax Return Department of the Treasury Internal Revenue Service Robin's Nest LLC Lovely Lane 850113 OMB No. 1545-0020 Type of Return (Check all that apply.) Amended Successor employer No payments to employees in 20x1 Name (not your trade name) 2007 Number Street Dallas TX Sute or room number 752680967 City State (NN) ZIP code Instructions and prior-year forms are available at www.irs.gov/form40 Foreign province/county Foreign Postal code Final Business closed or stopped paying wages Foreign country name Read the separate instructions before you complete this form Please type or print within the boxes Part 1: ta if you had to pay state unemployment tax in one state only, enter the state abbreviation (In Capital Letters) Tell us about your return. If any line does NOT apply, leave it blank. See instructions before completing Part 1. 1b if you had to pay state unemployment tax in more than one state, you are a multi-state employer, check here 2: If you paid wages in a state that is subject to CREDIT REDUCTION, check here Part 2: 18 Complete Sched Complete Sched Determine your FUTA tax before adjustments. If any line does NOT apply, leave it blank. (Round your answers to 2 decimal places.) 3 Total payments so all employees 4 Payments exempt from FUTA tas Check at that apply. a Fringe benefis RetremendPension 4 Other 4 Group-lem ife insurance 4d Dependent care in excess of $7,000 nene 5-ne 6) ee 3-ne 6-ne 7) (see instructions) ne 7x006-line ) 5 Total of payments made to each employee Subtotal 7 Total taxable FUTA wages FUTA tax before adjustments Part 3:1 Determine your adjustments. If any line does NOT apply, leave it blank. ALL of the taxable FUTA wages you paid were excluded from state unemployment tax, multiply line 7 by 0.054 ne 7x0054-Ine 9) Go to line 12 10 IT SOME of the taxable FUTA wages you paid were excluded from state unemployment tax, OR you pait ANY state unemploy ment tax late 0.00 0.00 the worksheet 13 Part 2 of 2 3.5 points eBook Required information Name (not your trade name) Robin's Nest LLC Part 5: Employer ID number (EIN enter as xX-XXXXXXXX) Report your FUTA tax liability by quarter only if line 12 is more than $500. If not, go to Part 6. (Round your answers to 2 decimal places.) 16 Report the amount of your FUTA tax ability for each quarter; do NOT enter the amount you deposited. If you had no liability for a quarter, enter "0" 16a 1st quarter (January 1- March 31) 16b 2nd quarter (April 1 June 30) 16c 3rd quarter (July 1-September 30) 16d 4th quarter (October 1 December 31) 17 Total tax liability for the year (lines 16a+ 16 +16c+16d = line 17) 16a 160 160 160 17 Print References Part 6:1 May we speak with your third-party designee? Do you want to allow an employee, a paid tax preparer, or another person to discuss this return with the IRS? See the instructions for details. Designer's name and phone number Select a 5-digit Personal Identification Number (PN) to use when taking to IRS Part 7: Sign here. You MUST complete both pages of this form and SIGN it. Under penalties of perjury, I declare that have examined this retur, including accompanying schedules and statements, and to the best of my knowledge and belief is true, correct, and complete, and that no part of any payment made to a state unemployment fund claimed as a credit was, or is to be, deducted from the payments made to employees. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge X Sign your name here Dale (mm/yyyy) 01/28/20X2 Paid Preparer Use Only Pit your name here Robin Robert Print your fe here Owner/President 9724561200 Best daytime phone boxxxxxxx Check if you are self-employed PTIN Preparer's name Prep's signatur F's name cut yours self-employed) Address Date (muddyyy) Phone 13 12 of 2 Required information Req 1 940 PG Req 1940 PG Req 2 In general journal form, record issuance of a check on January 28, 20X2, for the balance of FUTA tax due for 20x1. View transaction list eBook Journal entry worksheet Print Record the payment of balance tax due. ferences Note: Enter debits before credits, Date Jan 28, 20X2 General Journal Debit Credit Federal unemployment tax payable Cash Record entry Clear entry