Question
During the fourth quarter of 20--, there were seven biweekly paydays on Friday (October 4, 18; November 1, 15, 29; December 13, 27) for Clarke's
During the fourth quarter of 20--, there were seven biweekly paydays on Friday (October 4, 18; November 1, 15, 29; December 13, 27) for Clarke's Roofing. Using the forms supplied, complete the following for the fourth quarter:
Quarterly Payroll Data | ||||||||
Total Earnings 5 Employees | OASDI | HI | FIT | SIT | ||||
$37,450.00 | $2,321.90 | $543.06 | $3,402.00 | $2,621.50 | ||||
Employer's OASDI | $2,321.90 | |||||||
Employer's HI | 543.06 | |||||||
Federal deposit liability each pay | 1,304.56 |
If an amount box does not require an entry, leave it blank or enter "0".
As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used.
a. Complete the Federal Deposit Information Worksheets, reflecting electronic deposits (monthly depositor). Federal deposit liability each pay, $1,304.56.
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