Figure 3.8 Cruz Company has gathered the information needed to complete its Form 941 for the quarter ended September 30, 20--. Using the information presented below, complete Part 1 of Form 941. zero. Note: Round all values to the nearest cent. Use minus sign to indicate a deduction. If line 7 is zero, for grading purposes only, enter # of employees for pay period that included September 12 = 14 employees Wages paid third quarter = $80,219.52 Federal income tax withheld in the third quarter - 59,626.34 Taxable social security and Medicare wages = $80,219.52 Total tax deposits for the quarter = $21,899.93 Note: Lines 5a and 5c 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." Hint: Line 7 instructions. Fill in Form 941 through line 6, and then fill in Part 2, line 16 or Schedule B. Take that information and fill in line 13. Lines 12 and 13 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. Forn 941 for 20-- Employer's QUARTERLY Federal Tax Return (Rev. January 2019) Department of the Treasury - Internal Revenue Service OMB No. 1545-0029 Employer identification number (EIN) 0 0 0 0 0 6 5 0 9 Report for this Quarter of 20 - (Select one.) ( Name (not your trade name) CARLOS CRUZ Trade name (if any) CRUZ COMPANY January, February, March for Information. Address 901 KEYSTONE April, May, June Number Street Suite or room number July, August, September SACRAMENTO CA 95916 October, November, December Oty State ZIP code Inminnenuntuma Larian redoute Earninn Lariantendo Part 1: Answer these questions for this quarter. 1 Number of employees who received wages, tips, or other compensation for the pay period including: Mar. 12 (Quarter 1), June 12 (Quarter 2), Sept. 12 (Quarter 3), or Dec. 12 (Quarter 4) 2 Wages, tips, and other compensation 1 2 3 3 Federal income tax withheld from wages, tips, and other compensation If no wages, tips, and other compensation are subject to social security or Medicare tax 4 a Check and go to line 6. Column 1 Column 2 5a Taxable social security wages ..... x 0.124 = 5b Taxable social security tips ... x 0.124 = 5c Taxable Medicare wages & tips ..... x 0.029 = 5d Taxable wages & tips subject to Additional Medicare Tax withholding X 0.009 = 5e Add Column 2 from lines 5a, 5b, 5c, and 5d 5e 5f Section 3121(9) Notice and Demand-Tax due on unreported tips (see instructions) 5f 6 Total taxes before adjustments. Add lines 3, 5e, and 5f 6 7 Current quarter's adjustment for fractions of cents 7 8 Current quarter's adjustment for sick pay .. 8 9 Current quarter's adjustments for tips and group-term life insurance 9 10 10 Total taxes after adjustments. Combine lines 6 through 9 11 Qualified small business payroll tax credit for increasing research activities. Attach Form 8974 12 Total taxes after adjustments and credits. Subtract line 11 from line 10 11 12 13 Total deposits for this quarter, including overpayment applied from a prior quarter and overpayments 13 applied from Form 941-X, 941-X (PR), 944-X, or 944-X (SP) filed in the current quarter .. 14 Balance due. If line 12 is more than line 13, enter the difference and see instructions 14 15 Overpayment. If line 13 is more than line 12, enter the difference Check one: Apply to next return. a Send a refund. Figure 3.8 Cruz Company has gathered the information needed to complete its Form 941 for the quarter ended September 30, 20--. Using the information presented below, complete Part 1 of Form 941. zero. Note: Round all values to the nearest cent. Use minus sign to indicate a deduction. If line 7 is zero, for grading purposes only, enter # of employees for pay period that included September 12 = 14 employees Wages paid third quarter = $80,219.52 Federal income tax withheld in the third quarter - 59,626.34 Taxable social security and Medicare wages = $80,219.52 Total tax deposits for the quarter = $21,899.93 Note: Lines 5a and 5c 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." Hint: Line 7 instructions. Fill in Form 941 through line 6, and then fill in Part 2, line 16 or Schedule B. Take that information and fill in line 13. Lines 12 and 13 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. Forn 941 for 20-- Employer's QUARTERLY Federal Tax Return (Rev. January 2019) Department of the Treasury - Internal Revenue Service OMB No. 1545-0029 Employer identification number (EIN) 0 0 0 0 0 6 5 0 9 Report for this Quarter of 20 - (Select one.) ( Name (not your trade name) CARLOS CRUZ Trade name (if any) CRUZ COMPANY January, February, March for Information. Address 901 KEYSTONE April, May, June Number Street Suite or room number July, August, September SACRAMENTO CA 95916 October, November, December Oty State ZIP code Inminnenuntuma Larian redoute Earninn Lariantendo Part 1: Answer these questions for this quarter. 1 Number of employees who received wages, tips, or other compensation for the pay period including: Mar. 12 (Quarter 1), June 12 (Quarter 2), Sept. 12 (Quarter 3), or Dec. 12 (Quarter 4) 2 Wages, tips, and other compensation 1 2 3 3 Federal income tax withheld from wages, tips, and other compensation If no wages, tips, and other compensation are subject to social security or Medicare tax 4 a Check and go to line 6. Column 1 Column 2 5a Taxable social security wages ..... x 0.124 = 5b Taxable social security tips ... x 0.124 = 5c Taxable Medicare wages & tips ..... x 0.029 = 5d Taxable wages & tips subject to Additional Medicare Tax withholding X 0.009 = 5e Add Column 2 from lines 5a, 5b, 5c, and 5d 5e 5f Section 3121(9) Notice and Demand-Tax due on unreported tips (see instructions) 5f 6 Total taxes before adjustments. Add lines 3, 5e, and 5f 6 7 Current quarter's adjustment for fractions of cents 7 8 Current quarter's adjustment for sick pay .. 8 9 Current quarter's adjustments for tips and group-term life insurance 9 10 10 Total taxes after adjustments. Combine lines 6 through 9 11 Qualified small business payroll tax credit for increasing research activities. Attach Form 8974 12 Total taxes after adjustments and credits. Subtract line 11 from line 10 11 12 13 Total deposits for this quarter, including overpayment applied from a prior quarter and overpayments 13 applied from Form 941-X, 941-X (PR), 944-X, or 944-X (SP) filed in the current quarter .. 14 Balance due. If line 12 is more than line 13, enter the difference and see instructions 14 15 Overpayment. If line 13 is more than line 12, enter the difference Check one: Apply to next return. a Send a refund