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:

1. For April taxes, paid on May 15.
2. For May taxes, paid on June 17.

Date Wages Paid			Total Earnings			Social Security Tax Deducted			Medicare Tax Deducted			Income Tax Withheld
April	8		$	2,232.00		$	138.38		$	32.36		$	221.00
	15			2,320.00			143.84			33.64			228.00
	22			2,232.00			138.38			32.36			221.00
	29			2,276.00			141.11			33.00			225.00
			$	9,060.00		$	561.71		$	131.36		$	895.00
May	5		$	2,188.00		$	135.66		$	31.73		$	217.00
	12			2,232.00			138.38			32.36			221.00
	19			2,232.00			138.38			32.36			221.00
	26			2,276.00			141.11			33.00			225.00
			$	8,928.00		$	553.53		$	129.45		$	884.00
June	2		$	2,320.00		$	143.84		$	33.64		$	228.00
	9			2,232.00			138.38			32.36			221.00
	16			2,276.00			141.11			33.00			225.00
	23			2,232.00			138.38			32.36			221.00
	30			2,188.00			135.66			31.73			217.00
			$	11,248.00		$	697.37		$	163.09		$	1,112.00
Total			$	29,236.00		$	1,812.61		$	423.90		$	2,891.00

Social security	6.2	percent
Medicare	1.45
FUTA	0.6
SUTA	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. Fronkes phone number is 562-709-3654.

Analyze:

What is the balance of the Employee Income Tax Payable account at July 15?

Complete the following below:

- 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.) Journal entry: Record the entry to deposit payroll taxes for July 15.

- Complete form 941 page 1

- Complete form 941 page 2

- Complete form Schedule B

- What is the balance of the Employee Income Tax Payable account at July 15?