Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lauprechta Incorporated has the following employees on payroll: Assume that the employer uses the percentage method table for a manual payroll system. Requlred: Prepare Form

image text in transcribed
Lauprechta Incorporated has the following employees on payroll:
Assume that the employer uses the percentage method table for a manual payroll system.
Requlred:
Prepare Form 941 including Schedule B for the first quarter of 2023. Assume that the payroll is consistent every pay period beginning
in January through March 31, that pay days are the 15th and the last day of the month, and that all tax deposits were made on a timely
basis as required. Lauprechta Incorporated's Employer Identification Number (EIN) is 36-1238975, and its address is 1825 Elkhart Way.
Columbus, GA 31904. Assume the company made no provisions for COVID-19 changes in the first quarter. Use percentage method
tables for a manual payroll systems.
Note: Instructions can be found on certain cells within the forms. Round your Intermedlate computations and final answers to
nearest 2 decimal places.
Prepare Form 941, Employer's Quarterly Federal Tax Return.
941 PG 1
Page 1 of Form 941. Page 2 and Scheudle B
Read the separate instructions before you complete this form. Please type or print within the boxes
Part 1: , Answer these questions for this quarter.
1 Number of employees who recelved wages, tips, or other compensation for the pay period Including: March 12(Quarter 1).
Lauprechta Incorporated has the following employees on payroll:
Employees Semimonthly Payroll Number of Dependents from Form W-4 Marital Status
Naila $ 6,0003 Married
Wilfred $ 5,3002 Married
Byron $ 3,9000 Single
Annie $ 4,5001 Head of Household
Assume that the employer uses the percentage method table for a manual payroll system.
Required:
Prepare Form 941 including Schedule B for the first quarter of 2023. Assume that the payroll is consistent every pay period beginning in January through March 31, that pay days are the 15th and the last day of the month, and that all tax deposits were made on a timely basis as required. Lauprechta Incorporated's Employer Identification Number (EIN) is 36-1238975, and its address is 1825 Elkhart Way, Columbus, GA 31904. Assume the company made no provisions for COVID-19 changes in the first quarter. Use percentage method tables for a manual payroll systems.
Note: Instructions can be found on certain cells within the forms. Round your intermediate computations and final answers to nearest 2 decimal places.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Authors: Douglas Bernheim, Michael Whinston

2nd edition

73375853, 978-0073375854

Students also viewed these Accounting questions

Question

What is the four-component model of ethical decision making?

Answered: 1 week ago