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Just help me with part 2. I don`t understand how to do months. Part 2: Tell us about your deposit schedule and tax liability for

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Just help me with part 2. I don`t understand how to do months.

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Part 2: Tell us about your deposit schedule and tax liability for this quarter. If you are unsure about whether you are a monthly schedule depositor or a semiweekly schedule depositor, see section 11 of Pub. 15. 16 Check one: Line 12 on this return is less than $2,500 or line 12 on the return for the prior quarter was less than $2,500, and you didn't incur a $100,000 next-day deposit obligation during the current quarter. If line 12 for the prior quarter was less than $2,500 but line 12 on this return is $100,000 or more, you must provide a record of your federal tax liability. If you are a monthly schedule depositor, complete the deposit schedule below, if you are a semiweekly schedule depositor, attach Schedule B (Form 941). Go to Part 3 X You were a monthly schedule depositor for the entire quarter. Enter your tax liability for each month and total liability for the quarter, then go to Part 3 Tax liability: Month 1 Month 2 Month 3 Total liability for quarter Total must equal line 12. You were a semiweekly schedule depositor for any part of this quarter. Complete Schedule B (Form 941), Report of Tax Liability for Semiweekly Schedule Depositors, and attach it to Form 941. Complete Form 941 for the 1st quarter of 2020 for Bouncing Babies Co. (employer identification #33-3333333). Assume that Bouncing Babies Co. (located at 91 Bayberry Avenue, Baton Rouge, LA 70714) chooses to complete and mail Form 941 on the due date. Based on the lookback period, Bouncing Babies Co. is a monthly depositor. Assume that all necessary deposits were made on a timely basis and that the employer made deposits equal to the total amount owed for the quarter. All 32 employees worked during each of the three months, and the company elects to allow its accountant (William Gordon, telephone #225-555-7846, Pin #83463) to discuss the form with the IRS. Additionally, Mr. Gordon signs the form, and no employee is subject to Additional Medicare Tax during the quarter. First quarter earnings and associated taxes withheld from employee earnings are as follows. Notes: . For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. January Taxes February Taxes March Taxes 1st Quarter Earnings FWT $12,400.00 $12,720.00 $12,120.00 $331,200 Social Security $7,579.50 $7,240.36 $7,990.13 $367,903 Medicare $1,772.63 $1,693.31 $1,868.66 $367,903

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