Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I am having trouble with filling out Form 941, for a continuing payroll project for chapter 6, the textbook is authored by McGraw Hill. Owners

I am having trouble with filling out Form 941, for a continuing payroll project for chapter 6, the textbook is authored by McGraw Hill. Owners name: Toni Prevosti, Address: 820 Westminster road, Bridgewater, VT 05520, number of employees: 8, Gross quarterly wages (exclusive of Fringe benefits): $32,086.87, Federal income tax withheld: $360.00, 401K contributions: $1,259.90 and Section 125 withheld: $4,080.00, Gym membership: $90.00. The monthly deposits already made are, month 1 =0, month 2 =$1,918.18 and month 3 =$2,726.72. My problem is for box #2 for Wages, tips, and other compensation, I'm not sure what goes there, I thought it would be the $32,086.87, but when I check my answer, it shows incorrect, can someone HELP!

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

Step: 3

blur-text-image

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

Passive Activity Loss IRS Audit Technique Guide

Authors: Internal Revenue Service

1st Edition

1304114325, 978-1304114327

More Books

Students also viewed these Accounting questions