Figure $3\mathrm{.}8$

During the third calendar quarter of $20--,$ Bayview Inn, owned by Diane R$.$ Peters, employed the persons listed below. Also given are the employees' salaries or wages and the amount of tips reported to the owner. The tips were reported by the $10$th of each month. The federal income tax and FICA tax to be withheld from the tips were estimated by the owner and withheld equally over the $13$ weekly pay periods. The employer's portion of FICA tax on the tips was estimated as the same amount.

Employee Salary or

Wage Quarter's

Wages Quarter's

Tips Quarter's

OASDI Quarter's

HI Quarter's

FIT

Grant Frazier $$78,000/$year $$19,500\mathrm{.}00$ $$1,209\mathrm{.}00$ $$282\mathrm{.}75$ $$1,500\mathrm{.}00$

Joseph LaVange $52,000/$year $13,000\mathrm{.}00806\mathrm{.}00188\mathrm{.}501,100\mathrm{.}00$

Susanne Ayers $800/$week $10,400\mathrm{.}00$ $$2,240\mathrm{.}90783\mathrm{.}77183\mathrm{.}30750\mathrm{.}00$

Howard Cohen $650/$week $8,450\mathrm{.}002,493\mathrm{.}10678\mathrm{.}47158\mathrm{.}73740\mathrm{.}00$

Lee Soong $675/$week $8,775\mathrm{.}002,640\mathrm{.}30707\mathrm{.}72165\mathrm{.}49660\mathrm{.}00$

Mary Yee $750/$week $9,750\mathrm{.}002,704\mathrm{.}00772\mathrm{.}20180\mathrm{.}70900\mathrm{.}00$

Helen Woods $750/$week $9,750\mathrm{.}00604\mathrm{.}50141\mathrm{.}44800\mathrm{.}00$

Koo Shin $600/$week $7,800\mathrm{.}00483\mathrm{.}60113\mathrm{.}101,100\mathrm{.}00$

Aaron Abalis $750/$week $9,750\mathrm{.}00604\mathrm{.}50141\mathrm{.}44800\mathrm{.}00$

David Harad $600/$week $7,800\mathrm{.}00483\mathrm{.}60113\mathrm{.}10750\mathrm{.}00$

$$104,975\mathrm{.}00$ $$10,078\mathrm{.}30$ $$7,133\mathrm{.}36$ $$1,668\mathrm{.}55$ $$9,100\mathrm{.}00$

Employees are paid weekly on Friday. The following paydays occurred during this quarter:

July August September

$5$ weekly paydays $4$ weekly paydays $4$ weekly paydays

Taxes withheld for the $13$ paydays in the third quarter follow:

Employees$$ Weekly Weekly

Federal Income Tax FICA Taxes Withheld on Wages FICA Taxes on Tips

OASDI HI OASDI HI

$$700$ per week Employees' $$500\mathrm{.}65$ $$117\mathrm{.}11$ Employees' $$48\mathrm{.}07$ $$11\mathrm{.}24$

Employer's $500\mathrm{.}65117\mathrm{.}09$ Employer's $48\mathrm{.}0711\mathrm{.}24$

Based on the information given, complete Form $941$ on the following pages for Diane R$.$ Peters.

Phone number: $(901)555-7959$

Date filed: October $31,20--$

Note: Lines $5$a and $5$c of Form $941,$ tax on total taxable wages, are computed by multiplying by the combined tax rate for both employer and employee.

Small differences due to rounding may occur between this total and the total taxes withheld from employees each pay period and the amount of the employer's taxes calculated each pay period. This difference is reported on line $7$ as a deduction or an addition as "Fractions of Cents."

If a box does not require an amount, leave it blank. If required, round your answers to nearest cent. Use a minus sign to indicate a deduction. Assume that company deposits taxes on monthly basis.

Hint: Line $7$ instructions. Fill in Form $941$ through line $6,$ and then fill in Part $2,$ line $16,$ Schedule B$.$ Take that information and fill in line $10.$ Note that Lines $6$ and $10$ must equal. If the amounts are not the same, correct by entering amount to make equal on line $7.$ Line $7$ differences are caused by how calculations are made on Form $941$ and the amounts withheld from employee's earning plus the employer's payroll tax amounts each pay.

Form $941$ for $20--$:

$($Rev$.$ April $2020)$ Employer's QUARTERLY Federal Tax Return

Department of the Treasury $$ Internal Revenue Service

OMB No$.1545-0029$

Employer identification number $($EIN$)$

$000003607$

Name $($not your trade name$)$ DIANE R$.$ PETERS

Trade name $($if any$)$ BAYVIEW INN

Address

$404$ UNION AVE.

Number Street Suite or room number

MEMPHIS TN $38112$

City State ZIP code

Foreign country name Foreign province$/$county Foreign postal code

Report for this Quarter of $20--$

$($Select one.$)$

July, August, September

Go to www$.$irs.gov$/$Form$941$ for instructions and the latest information.

Read the separate instructions before you complete Form $941.$ Type or print within the boxes.

Part $1$: Answer these questions for this quarter.

$1$ Number of employees who received wages, tips, or other compensation for the pay period including: June $12($Quarter $2),$ Sept. $12($Quarter $3),$ or Dec. $12($Quarter $4).............................1$ fill in the blank $2$

$104,975\mathrm{.}00$

$2$ Wages, tips, and other compensation $...................................................2$ fill in the blank $3$

$7,133\mathrm{.}36$

$3$ Federal income tax withheld from wages, tips, and other compensation $........................3$ fill in the blank $4$

$1,668\mathrm{.}55$

$4$ If no wages, tips, and other compensation are subject to social security or Medicare tax $$ Check and go to line $6.$

Column $1$ Column $2$

$5$a Taxable social security wages $............$ fill in the blank $5$

$115,053\mathrm{.}30$

x $0\mathrm{.}124=$ fill in the blank $6$

$5$a $($i$)$ Qualified sick leave wages $............$ fill in the blank $7$

x $0\mathrm{.}062=$ fill in the blank $8$

$5$a $($ii$)$ Qualified family leave wages $.........$ fill in the blank $9$

x $0\mathrm{.}062=$ fill in the blank $10$

$5$b Taxable social security tips $..............$