Question
I need certified help with the question below. I need the question answered CORRECTLY ASAP! Please show work.. Thanks! During the fourth quarter of 2019,
I need certified help with the question below. I need the question answered "CORRECTLY" ASAP! Please show work.. Thanks!
During the fourth quarter of 2019, there were seven biweekly paydays on Friday (October 4, 18; November 1, 15, 29; December 13, 27) for Quality Repairs. Using the forms supplied below, complete the following forms for the fourth quarter.
If an amount or input box does not require an entry, leave it blank or enter "0".
Quarterly Payroll Data | ||||
Total Earnings | ||||
5 Employees | OASDI | HI | FIT | SIT |
$18,670.00 | $1,157.54 | $270.72 | $1,867.00 | $1,306.90 |
Employer's OASDI | $1,157.54 | |||
Employer's HI | 270.72 | |||
Federal deposit liability each pay | 674.79 |
a. Complete the Federal Deposit Information Worksheets reflecting electronic deposits (monthly depositor). Federal deposit liability each pay, $674.79.
FEDERAL DEPOSIT INFORMATION WORKSHEET | |||
Employer | |||
Identification Number | 00-0004701 | Name | QUALITY REPAIRS |
Month Tax Year Ends | 12 | Amount of Deposit | |
Type of Tax (Form) | Tax Period | 4th quarter | |
Address | 10 SUMMIT SQUARE | Phone Number | (501) 555-7331 |
City, State, ZIP | CITY, STATE 00000-0000 |
To be deposited on or before November 15, 2019 .
FEDERAL DEPOSIT INFORMATION WORKSHEET | |||
Employer | |||
Identification Number | 00-0004701 | Name | QUALITY REPAIRS |
Month Tax Year Ends | 12 | Amount of Deposit | |
Type of Tax (Form) | Tax Period | 4th quarter | |
Address | 10 SUMMIT SQUARE | Phone Number | (501) 555-7331 |
City, State, ZIP | CITY, STATE 00000-0000 |
To be deposited on or before December 16, 2019 .
FEDERAL DEPOSIT INFORMATION WORKSHEET | |||
Employer | |||
Identification Number | 00-0004701 | Name | QUALITY REPAIRS |
Month Tax Year Ends | 12 | Amount of Deposit | |
Type of Tax (Form) | Tax Period | 4th quarter | |
Address | 10 SUMMIT SQUARE | Phone Number | (501) 555-7331 |
City, State, ZIP | CITY, STATE 00000-0000 |
To be deposited on or before January 15, 2020 .
b. Employer's Quarterly Federal Tax Return, Form 941. The form is signed by you as president on January 31, 2020.
Hint: Line 7 instructions. Fill in Form 941 through line 6, 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.
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