Question
I have the following problem in payroll accounting 2017 Chapter 5 Continuing Payroll Project: Prevosit Farms and Sugarhouse. The first quarter tax return needs to
I have the following problem in payroll accounting 2017 Chapter 5 Continuing Payroll Project: Prevosit Farms and Sugarhouse.
The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2016. For the purpose of the taxes, assume the February payroll amounts were duplicated for the March 10 and March 24 payroll period. Completing form 941.
Number of employees -8
Quarterly wages $32,010.17
Federal Income tax withheld $988.00
401 contribution $1257.85
Insurance withheld $4080.00
Monthly Deposits
Month 1-$0
Month 2-$2133.22
Month 3-$3128.12
I am having trouble determining the 2. Wages, Tips and other compensation on the 941 form. I do not understand what they are telling me about the duplication on March 10 and March 24.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started