Question
Ingram Heating & Cooling reports the following earnings and deductions for their employees for the 1st quarter of the year: Total Federal State City Total
Ingram Heating & Cooling reports the following earnings and deductions for their employees for the 1st quarter of the year:
Total Federal State City Total Net
SS # Earnings I Tax OASDI HI Inc. Tax Inc. Tax Deductions Pay
Roy Bell 123-45-6789 10489.00 1211.00 650.32 152.09 187.20 220.27 2420.88 8068.12
Karl Radek 234-56-7890 10477.00 1209.00 649.57 151.92 228.67 220.02 2459.18 8017.82
Marie Rossi 345-67-8900 10695.00 1131.00 663.09 155.08 191.49 224.60 2365.26 8329.74 John Scott 456-78-9999 10258.00 1170.00 636.00 148.74 228.67 215.42 2398.83 7859.17
1st quarter totals 41919.00 4721.00 2598.98 607.83 836.03 880.31 9644.1 32274.85
Requirements: Use the forms attached. Attach document with calculations for partial credit
1. Prepare the quarterly Form 941 (26 Points) Monthly 941 liabilities:Jan. $ 3,565.10, Feb. $3,615.70, March $3,953.82 Monthly deposits for the quarter were: $3,556.10, Feb. $3,615.70, March $3,953.82 Do not worry about their EIN Number or Address.
2. Prepare the quarterly SUTA Form . See rate on form provided. (8 Points)
3. Prepare the annual Form 940. (16 Points) Assume that the second, third, and the fourth quarter earnings are the same as the 1st qtr above for each employee. Assume all Ohio SUTA contributions were made timely. They did not make any FUTA deposits this year
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