HIP Required information [The following information applies to the questions displayed below.) A payroll summary for Mark Consulting Company, owned by Mark Fronke, for the quarter ending June 30, 20X1, appears below. The firm made the required tax deposits as follows: a. For April taxes, paid on May 15. b. For May taxes, paid on June 17. Date Wages Paid April 8 15 22 29 May 5 12 19 26 Social Security Medicare Income Total Tax Tax Tax Earnings Deducted Deducted Withheld $ 2,392.00 $ 148.30 $ 34.68 $ 237.00 2,480.00 153.76 35.96 244.00 2,392.00 148.30 34.68 237.00 2,436.80 151.03 35.32 241.00 $ 9,700.00 $ 601.39 $140.64 $ 959.00 $ 2,348.ee $ 145.58 $ 34.05 $ 233.00 2,392.00 148.30 34.68 237.00 2,392.80 148.30 34.68 237.00 2,436.00 151.03 35.32 241.00 $ 9,568.80 $ 593.21 $138.73 $948.00 $ 2.480.se $ 153.76 $ 35.96 $ 244.00 2,392.00 148.30 34.68 237.00 2,436.00 151.03 35.32 241.00 2,392.80 148.30 34.68 237.00 2.348.00 145.58 34.85 233.00 $12.648.88 $746.97 $174.69 $1,192.00 $31.316.88 $1,941.57 $454.86 $3,099.00 June 2 9 16 23 30 Total percent Social security Medicare FUTA SUTA 6.2 1.45 8.6 5.4 Required: 1. On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month (June)). 2. Complete Form 941 in accordance with the discussions in this chapter. Use a 12.4 percent social security rate and a 2.9 percent Medicare rate in computations. Use the following address for the company: 2300 East Ocean Blvd., Long Beach, CA 90802. Use 75-4444444 as the employer identification number. Date the return July 31, 20X1. Mr. Fronke's phone number is 562-709-3654 Analyze: What is the balance of the Employee Income Tax Payable account at July 15? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2941 Pg Reg 2 941 Po 1 Reg 2 Schedule B Analyze On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month [June]), (Round your answers to 2 decimal places.) View transaction fist Journal entry worksheet Record the entry to deposit payroll taxes for July 15. Employer's QUARTERLY Federal Tax Return Department of the Treasury Intemal Revenue Service Form 941 for 20X1: Play January 2013 Employer ID number (EIN-enters XXXXXX) Name not your trade name) Trade name of any OOO 950113 OMB No 1545-000 Report for this Quarter of 20X1 (Check one.) January February March April May June wy, August September Number Street sute or room number 104 ZIP code October November December City State INN ce Foreign country name Instructions and prior w forms are available at www.ingout Provinc/county Postal code Read the separate instructions before you complete this Form 361. Please type or print within the boxes Part 1: Answer these questions for this quarter. Number of employees who received wages, tips, or other compensation for the pay period including Mar 12 (Quarter 1). June 12 (Quarter 21 Sept 12 Quarter Dec. 12 Quarter 4) 1 Wages, tips, and other compensation Federal income tax with from wages, tips and other compensation #newes, pe under compensation are subject to social security of Medicare tax Check and go to his Column 1 Column 2 Sa Taxable social security wges x 0.124 0.00 St Taxatie social security Ops * 0124 0.00 S Taube Medicare wages tips * 029 0.00 1d Tow & tips set to Anditional Medicare Tax withholding 0.000 0.00 Add Column 2 trommes, and d 5 0.00 Section 312114) Notice and Demand-Tas due on reported tipe 51 Total tans before adjust Adelines and 0.00 Current quarter ment for fractions of centa Current qurtar's for Rick pey Current stments forts and group Insurance 10 Totalt ettent Combine through 0.00 11 Qualified mall business pull tid for increasing research activities Attach Form 1974 12. Total answers and credit Suine 11 from line 10 12 0.00 T . . Part 2: Tell us about your deposit schedule and tax liability for this quarter. you are unsure about whether you are a monthly schedule depositor or a semiweekly schedule depositor, see section 11 of Pub. 15. 16 Check oner Line 12 on this return is less than $2,500 of line 12 on the return for the prior quarter was less than $2.500, and you did not incur a $100,000 next day deposit obligation during the current quarter. I line 12 for the prior quarter was less than $2.500 butine 12 on totum is $100.000 more, you must provide a record of your federal taxability if you are a monthly schedule depositor complete the deposit schedule below if you are a semiweekly schedule deposfor, attach Schedule B (Form 941 Go to Part 3 You were a monthly schedule depositor for the entire quarter. Enter your tex liability for each month and totally or were then go to Parts Tax liability Month 1 Month 2 Month Total liability for quarter 0.00 Total must equal line 12 You were a semiweekly schedule depositor for any part of this quarter. Complete Schedule Form 341) Report of Texabity for the quarter, then go to Part 3 Part 3: Tell us about your business. If a question does NOT apply to your business, leave it blank IT If your business has closed of you stopped paying wages or the final de you pad wages oddiy 18 you are seasonal employer and you do not have to file a return for every quarter of the year Oched her Part 4 May we speak with your third-party designee? Do you want to own employee, paldtax preparer, or another person to discuss this retum with the RS? See the instructions for data Yes Designs and phone number NO Part 5 Sign here. You MUST Complete both pages of Form 041 and SIGN IL. Check here enter the final data you paid wages (mmddy 15 you are seasonal employer and you do not have to file a return for every quarter of the year Part 4 May wo speak with your third-party designeo? Do you want to allow an employee, a paid tax preparer, or another person to discuss this return with the RS? So the Instructions for detalle Designe's name and phone number ON Seinct a 5-dot Personal Identification Number (PIN) to use when talking to RS Yes Part 5: Sign here. You MUST complete both pages of Form 941 and SIGN It Under penalties pury, declare that have examined this retum, including companying schedules and coments, and to the best of my knowledge and be correct, and compila Declaration of prepare other than agayer is based on omation of which preparer hos ny knowledge Tences X Sign your name here Datud Print your name here Mark Franke Print your title here Owner 07/31/20x1 yetme phone...) 5627093654 Paid Preparer Use Only Pro Check you and PTIN Daddy EIN Phone IP code SINN HP HIP Required information [The following information applies to the questions displayed below.) A payroll summary for Mark Consulting Company, owned by Mark Fronke, for the quarter ending June 30, 20X1, appears below. The firm made the required tax deposits as follows: a. For April taxes, paid on May 15. b. For May taxes, paid on June 17. Date Wages Paid April 8 15 22 29 May 5 12 19 26 Social Security Medicare Income Total Tax Tax Tax Earnings Deducted Deducted Withheld $ 2,392.00 $ 148.30 $ 34.68 $ 237.00 2,480.00 153.76 35.96 244.00 2,392.00 148.30 34.68 237.00 2,436.80 151.03 35.32 241.00 $ 9,700.00 $ 601.39 $140.64 $ 959.00 $ 2,348.ee $ 145.58 $ 34.05 $ 233.00 2,392.00 148.30 34.68 237.00 2,392.80 148.30 34.68 237.00 2,436.00 151.03 35.32 241.00 $ 9,568.80 $ 593.21 $138.73 $948.00 $ 2.480.se $ 153.76 $ 35.96 $ 244.00 2,392.00 148.30 34.68 237.00 2,436.00 151.03 35.32 241.00 2,392.80 148.30 34.68 237.00 2.348.00 145.58 34.85 233.00 $12.648.88 $746.97 $174.69 $1,192.00 $31.316.88 $1,941.57 $454.86 $3,099.00 June 2 9 16 23 30 Total percent Social security Medicare FUTA SUTA 6.2 1.45 8.6 5.4 Required: 1. On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month (June)). 2. Complete Form 941 in accordance with the discussions in this chapter. Use a 12.4 percent social security rate and a 2.9 percent Medicare rate in computations. Use the following address for the company: 2300 East Ocean Blvd., Long Beach, CA 90802. Use 75-4444444 as the employer identification number. Date the return July 31, 20X1. Mr. Fronke's phone number is 562-709-3654 Analyze: What is the balance of the Employee Income Tax Payable account at July 15? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2941 Pg Reg 2 941 Po 1 Reg 2 Schedule B Analyze On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month [June]), (Round your answers to 2 decimal places.) View transaction fist Journal entry worksheet Record the entry to deposit payroll taxes for July 15. Employer's QUARTERLY Federal Tax Return Department of the Treasury Intemal Revenue Service Form 941 for 20X1: Play January 2013 Employer ID number (EIN-enters XXXXXX) Name not your trade name) Trade name of any OOO 950113 OMB No 1545-000 Report for this Quarter of 20X1 (Check one.) January February March April May June wy, August September Number Street sute or room number 104 ZIP code October November December City State INN ce Foreign country name Instructions and prior w forms are available at www.ingout Provinc/county Postal code Read the separate instructions before you complete this Form 361. Please type or print within the boxes Part 1: Answer these questions for this quarter. Number of employees who received wages, tips, or other compensation for the pay period including Mar 12 (Quarter 1). June 12 (Quarter 21 Sept 12 Quarter Dec. 12 Quarter 4) 1 Wages, tips, and other compensation Federal income tax with from wages, tips and other compensation #newes, pe under compensation are subject to social security of Medicare tax Check and go to his Column 1 Column 2 Sa Taxable social security wges x 0.124 0.00 St Taxatie social security Ops * 0124 0.00 S Taube Medicare wages tips * 029 0.00 1d Tow & tips set to Anditional Medicare Tax withholding 0.000 0.00 Add Column 2 trommes, and d 5 0.00 Section 312114) Notice and Demand-Tas due on reported tipe 51 Total tans before adjust Adelines and 0.00 Current quarter ment for fractions of centa Current qurtar's for Rick pey Current stments forts and group Insurance 10 Totalt ettent Combine through 0.00 11 Qualified mall business pull tid for increasing research activities Attach Form 1974 12. Total answers and credit Suine 11 from line 10 12 0.00 T . . Part 2: Tell us about your deposit schedule and tax liability for this quarter. you are unsure about whether you are a monthly schedule depositor or a semiweekly schedule depositor, see section 11 of Pub. 15. 16 Check oner Line 12 on this return is less than $2,500 of line 12 on the return for the prior quarter was less than $2.500, and you did not incur a $100,000 next day deposit obligation during the current quarter. I line 12 for the prior quarter was less than $2.500 butine 12 on totum is $100.000 more, you must provide a record of your federal taxability if you are a monthly schedule depositor complete the deposit schedule below if you are a semiweekly schedule deposfor, attach Schedule B (Form 941 Go to Part 3 You were a monthly schedule depositor for the entire quarter. Enter your tex liability for each month and totally or were then go to Parts Tax liability Month 1 Month 2 Month Total liability for quarter 0.00 Total must equal line 12 You were a semiweekly schedule depositor for any part of this quarter. Complete Schedule Form 341) Report of Texabity for the quarter, then go to Part 3 Part 3: Tell us about your business. If a question does NOT apply to your business, leave it blank IT If your business has closed of you stopped paying wages or the final de you pad wages oddiy 18 you are seasonal employer and you do not have to file a return for every quarter of the year Oched her Part 4 May we speak with your third-party designee? Do you want to own employee, paldtax preparer, or another person to discuss this retum with the RS? See the instructions for data Yes Designs and phone number NO Part 5 Sign here. You MUST Complete both pages of Form 041 and SIGN IL. Check here enter the final data you paid wages (mmddy 15 you are seasonal employer and you do not have to file a return for every quarter of the year Part 4 May wo speak with your third-party designeo? Do you want to allow an employee, a paid tax preparer, or another person to discuss this return with the RS? So the Instructions for detalle Designe's name and phone number ON Seinct a 5-dot Personal Identification Number (PIN) to use when talking to RS Yes Part 5: Sign here. You MUST complete both pages of Form 941 and SIGN It Under penalties pury, declare that have examined this retum, including companying schedules and coments, and to the best of my knowledge and be correct, and compila Declaration of prepare other than agayer is based on omation of which preparer hos ny knowledge Tences X Sign your name here Datud Print your name here Mark Franke Print your title here Owner 07/31/20x1 yetme phone...) 5627093654 Paid Preparer Use Only Pro Check you and PTIN Daddy EIN Phone IP code SINN HP