PSc 6-1 Examine the Lookback Period

For each of the following independent circumstances, examine the lookback period to determine whether the company is a monthly or semiweekly depositor for 2018:

1: A company's total taxes owed (federal income tax withholding, Social Security tax, and Medicare tax) for six consecutive quarters were as follows.

2016; 1st Quarter	$11,000
2016; 2nd Quarter	$17,200
2016; 3rd Quarter	$19,550

2016; 4th Quarter	$9,100
2017; 1st Quarter	$23,200
2017; 2nd Quarter	$11,000

Type of depositor:

1. Monthly
2. Semiweekly

2: A company's total taxes owed (federal income tax withholding, Social Security tax, and Medicare tax) for six consecutive quarters were as follows.

2016; 1st Quarter	$11,500
2016; 2nd Quarter	$12,000
2016; 3rd Quarter	$14,750

2016; 4th Quarter	$10,550
2017; 1st Quarter	$13,000
2017; 2nd Quarter	$9,700

Type of depositor:

1. Monthly
2. Semiweekly

3: A company's total taxes owed (federal income tax withholding, Social Security tax, and Medicare tax) for six consecutive quarters were as follows.

2016; 1st Quarter	$20,000
2016; 2nd Quarter	$15,500
2016; 3rd Quarter	$16,400

2016; 4th Quarter	$13,000
2017; 1st Quarter	$11,700
2017; 2nd Quarter	$9,900

Type of depositor:

1. Monthly
2. Semiweekly