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Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. As the accountant for Monroe Trucking Company, you
Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. As the accountant for Monroe Trucking Company, you are preparing the company's annual return, Form 940 and Schedule A. Use the following information to complete Form 940 and Schedule A The net FUTA tax liability for each quarter of 2017 was as follows: 1st, $97.00; 2nd, $87.00; 3rd, $69.70; and 4th, $59.50 Since the net FUTA tax liability did not exceed $500, the company was not required to make its first deposit of FUTA taxes until January 31, 2018. Assume that the electronic payment was made on time Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. As the accountant for Monroe Trucking Company, you are preparing the company's annual return, Form 940 and Schedule A. Use the following information to complete Form 940 and Schedule A The net FUTA tax liability for each quarter of 2017 was as follows: 1st, $97.00; 2nd, $87.00; 3rd, $69.70; and 4th, $59.50 Since the net FUTA tax liability did not exceed $500, the company was not required to make its first deposit of FUTA taxes until January 31, 2018. Assume that the electronic payment was made on time
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