Question
Assume that all wages have been paid and that all quarterly payments have been submitted to the state as required. The payroll information for 2016
Assume that all wages have been paid and that all quarterly payments have been submitted to the state as required. The payroll information for 2016 for Fashion Sense appears below. The required federal tax deposits were submitted as follows: a deposit of $149.78 on April 21, a deposit of $348.48 on July 22, and a deposit of $77.22 on October 21.
Quarter EndedTotal
Wages PaidWages Paid
in Excess
of $7,000State
Unemployment Tax PaidMar.31$24,963.00-0-$424.37June.3062,000.003,920.00987.36Sept.3034,500.0021,630.00218.79Dec.3138,000.0033,380.0078.54
Totals$159,463.00$58,930.00$1,709.06
2.In general journal form, record issuance of a check on January 28, 2017, for the balance of FUTA tax due for 2016. (Round your answers to 2 decimal places.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started