Payroll

The Summer Company has two employees, Jane who makes $2600 per week is the company liaison for the government.Mark, who makes $1000 per week is the consultant for the job sites.

The Company is required to withhold Social Security taxes at a rate of 6.2% on the first $127,200 of earnings, Medicare taxes at 1.45% on all earnings, and Federal Income Taxes at the employees W-4 rates; this has been $470 and $150 for each employee for each of the payroll weeks this year.

The Company in addition to withhold taxes incurs payroll taxes of Social Securityand Medicare at the same rate as the employees.It is January 31 and you have been asked to complete the 941 form for the company based on only the information provided for the 4^thquarter of the prior year.The only other supplemental information you have is the amount of taxes deposits by the employer.Forms are not considered compete unless they are signed.

941 Deposits:

October - 4477

November - 3581

December - 3000