Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello can someone please help me fill out form 940 with this problem, you have one semi filled out but it is cut off on

Hello can someone please help me fill out form 940 with this problem, you have one semi filled out but it is cut off on line 12, I would like to see the whole form if possible. thank you

5-16A LO 5 See pages 5-19, 5-20, and 5-23

As the accountant for Runson Moving Company, you are preparing the company's annual return, Form 940 and Schedule A. Use the following information to complete Form 940 and Schedule A on pages 5-38 to 5-40.

The net FUTA tax liability for each quarter of 2016 was as follows: 1st, $220.10; 2nd, $107.60; 3rd, $101.00; and 4th, $56.10 plus the credit reduction.

Since the net FUTA tax liability did not exceed $500 until the 4th quarter, the company was required to make its first deposit of FUTA taxes on January 31, 2017. Assume that the electronic payment was made on time.

a. One of the employees performs all of his duties in another stateArizona. b. Total payments made to employees during calendar year 2016: California 102,310 Arizona 18,490 Total 120,800

c. Employer contributions in California into employees' 401(k) retirement plan: $3,500. d. Payments made to employees in excess of $7,000: $36,500 ($11,490 from Arizona and $25,010 from California). e. Form is to be signed by Mickey Vixon, Vice President. f. Phone number(219) 555-8310.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan

16th Global Edition

1292147989, 978-1292147987

More Books

Students also viewed these Accounting questions

Question

b. A workshop on stress management sponsored by the company

Answered: 1 week ago