8N-3. The following is the monthly payroll for the last three months of the 01945 . The shop is a sole proprietorship 2 Boar Road, Lynn, Massachusetts The EIN for Allen's Sporting Goods Shop owned and operated by Bill Allen. The employees at Allen's are paid Shop is 28-9311893. of the month. Karen Becker is the once each month on the last day the maximum into Social Security. only employee who has contributed reach the Social Security wage base line of the other employees will the rate for Social Security to be limit by the end of the year. Assume $117,000, and the rate for Medicare with a wage base maximum of is classified as a monthly depositor to be 1.45% on all carnings. Allen's purposes. Your tasks are to do the following: 1. Compute the December OASDI tax for Karen Becker. 2. Journalize the entries to record the employer's payroll tax expense for each period in the general journal. SUTA rate: 5.7%; FUTA rate: 0.6%. 3. Journalize the payment of each tax liability in the general journal. 4. Complete Form 941 for the fourth quarter of the current year. DECEMBER FICA Requirement 1 Karen Becker Calculation for December FICA-OASDI tax GENERAL JOURNAL GENERAL JOURNAL Feport for this Guarter of 2015 (Eheck ent.j. 1. daraary, Facruary, Macch 2: Apri, May, dune a duly, Angust, Septeriber 4: Detober, Hoven bes, Decanberf instuctens and pior your foms ars wralatio af whw ini. govitomesti. Ithe separate instructors before you complete Form 941. Type or grint within the boves. 1. Answer these questions for this quarter. Number of employees who recelved wages, tips, of other compensation for the pay period hchuding Mar, 12 (Ouarter 1), dune 12 (Duarter 2), Sept. 12 iouarter thy, or Dec. 12 (ouarter 4) 1 Wages, thos, and other compensation 2 Federal inoome tax withheld from wages, tips, and other compensation 3 E no wages, tps, and other coempensation are subfect to secial security or Medicare tax Cheok and go to the 6 . Add Column 2 frem lines Sa, 30,5c, and 5d Eo Section 312t(q) NoEice and Demand - Tax due on unreported Sps (eee instructions). .fr. Total taxes before adjustments. Add tines 3, Se, and MI 6 Current quarter's ad/ustment for thactions of eents 7 Current quarter's adjustment for sick pay 8. Current quartar's adfustments for tips and or oupiterm tte insurance 9 Part 2: Tell us about your deposit schedule and tax liabifity for this cuarter. If you are unsure about whether you are a monthly schedule depositor of a semweeny schedule depositor, see Puo. is. (Circular E), section 11. 14 Check one: You wore a moettyy schedule depositor foe the entire quarter. Enter your tax lisblify for each month and fotal lobilly for the cuarter, then go to Part 3. Tax Sability: Month t Month 2 Month 3 Total llabaity for quarter. Total must equar line 40. You were a semiweekly schedule depositor for any part of this quarter. Complobe Schedule B Form IH1. Flaport of Tax Liability for Semiweelly Schodule Depostors, and attoch it to Form 94t. Part 2 Tell us about your business. If a question does NOT apply to your business, leave it blank. 15. If your business has closed or you stopped payhing woges . enter the final dete you paid woges 16. If you are a seasonal empioyer and you de not have to fle a return for every quarter of the year Part 4: May we speak with your thind-party designee? for dotake. Yos. Designed's name and phane number Solect a S-idgt Personar identificaton Number (RM) to leo when taling to the ifs: The. Part 5. Sign here. You MUST complete both pages of Form 941 and SIGN it. Payment Voucher Purpose of Form Specific Instructions Complete Fom 941- V, Payment Voueher, If you are Box 1-Employer identification number (EaN), if you do making a payment wath Fom 941, Employer's not have an EiN, you may apply for one onine Co to QUARIERLY Federa Tax Retum. We will use the completed voucher to credit your payment more promptly. apply for an Eill by faving or maling Fonm SS-4. and accurately, and to improve our service to you. Appication for Employer ildent Seation Nurtber, to the Making Payments With Form 941 IPs. If you have not receved your EN by the die date of To avoid a penaty, make your payment with Form 941 Form 941, write "Appled for" and the dice you applied in only if: this entry space. - Your total taxes after aduustments for either the current Box 2 - Amount paid. Enter the amount pald with quarter or the preceding quarter (Form 941, Ine 10) are Form 941. less than $2,500, you did not incur a $100,000 next-day Box 3-Tax period. Daken the cirde identrying the deposit obligation during the current quarter, and you are quarter for which the payment is made. Darten onty paying in ful with a timely fied retum, or - You are a monthly schedule depositor making a Box 4-Name and address. Enteryour name and payment in accordance with the Accuracy of Deposits address as shown on Form 941 . Pule. See section 11 of Pub. 15 (Circular E). Employer's - Enclose your checker money order made payable to Tax Guide, for details. In this case, the amount of your _. The "United States Tressiry." Be sure to enter your payment may be $2,500 or more. EliN. "Fom 341." and the tax period on your check or Otherwise, you must make deposits by electronic funds. 941-V or your payment to Form 941 (or to esch other). transfer. See section 11 of Pub. 15 ic Circular E for deposit - Detach Form 941V and send it with your poyment instructions. Do not use Form 941- V to make federal tax and Form 941 to the address in the linatructord for deposith. Caution. Use Form 947-V when making any payment with Form 941. However, if you pay an amount with Form 941 Note. You must abo congiefte the entity intormation that should have been deposited, you may be subject to at penaty. See Deposit Penalsies in section 11 of Pub. 15 (Circular E