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IPlease explain how you got the balance of FUTA tax due for 2019 Problem 11.5A Computing and recording unemployment taxes; completing Form 940. LO 11-6,

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IPlease explain how you got the balance of FUTA tax due for 2019

Problem 11.5A Computing and recording unemployment taxes; completing Form 940. LO 11-6, 11-7 Certain transactions and procedures relating to federal and state unemployment taxes follow for Fancy Nancy LLC, a retail store owned by Nancy Roberts. The firm's address is 2007 Trendsetter Lane, Dallas, TX 75268-0967. The firm's phone number is 972-456- 1200.The employer's federal and state identification numbers are 75-9462315 and 37-9462315, respectively. Carry out the procedures as instructed in each of the following steps. Assume that all wages have been paid and that all quarterly payments have been submitted to the state as required. The payroll information for 2019 appears below. The federal tax deposits were submitted as follows: a deposit of $164.18 on April 21, a deposit of $339.12 on July 22, and a deposit of 68.94 on October 21. Wages Paid Quarter Total in Excess Ended Wages Paid of $7,000 Mar. 31 $ 27,363.00 June 30 60,800.00 4,280.00 Sept. 30 32,700.00 21,210.00 Dec. 31 35,600.00 31,640.00 Totals $156,463.00 $57,130.00 State Unemployment Tax Paid $ 465.17 960.84 195.33 67.32 $1,688.66 Required: In general journal form, record issuance of a check on January 28, 2020, for the balance of FUTA tax due for 2019. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record payment of balance tax due

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