Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Assume the following data for Heart Tattoo Parlor for the quarter ended September 30. Number of employees for third quarter: 7 Gross earnings $64,542.00
Assume the following data for Heart Tattoo Parlor for the quarter ended September 30. Number of employees for third quarter: 7 Gross earnings $64,542.00 Employee FICA taxes $4,937.46 Federal income tax $13,471.00 State income tax $2,060.20 Employer FICA taxes $4,937.46 Federal unermployment tax $16.40 State unemployment tax $147.64 Monthly federal income tax and FICA tax liability: July $8,632.15, August $7,924.17, and September $6,789.60 Federal income tax and FICA tax total monthly deposits for third quarter: $23,715.12 What amounts would be entered on Form 941 for the following line items? (Round answers to 2 decimal places, e.g. 52.75.) Line 3: Federal income tax withheld. 24 Line 5a (Column 2): Taxable Social Security wages. Line 5c (Column 2): Taxable Medicare wages and tips. Line 6: Total taxes before adjustments. $ Line 11: Total deposits for this quarter. Line 12: Balance due. Line 13: Overpayment. %24 %24 %24 %24
Step by Step Solution
★★★★★
3.43 Rating (159 Votes )
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
Document Format ( 2 attachments)
6095377f176ea_210827.pdf
180 KBs PDF File
6095377f176ea_210827.docx
120 KBs Word File
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started