Required information [The following information applies to the questions displayed below.) A payroll summary for Mark Consulting Company, owned by Mark Fronke, for the quarter ending June 30, 20X1, appears below. The firm made the required tax deposits as follows: a. For April taxes, paid on May 15. b. For May taxes, paid on June 17. Social Security Tax Date Wages Paid April 8 15 22 29 $ May 5 12 19 26 Total Earnings $ 3,400.00 3,700.00 4,100.00 4,400.00 $15,600.00 $ 3,200.00 3,400.00 3,400.00 4,400.00 $14,400.00 $ 3,700.00 3,400.00 4,400.00 3,400.00 3,200.00 $18,100.00 $48,100.00 Deducted $ 210.80 229.40 254.20 272.80 $ 967.20 198.40 210.80 210.80 272.80 $ 892.80 $ 229.40 210.80 272.80 210.80 198.40 $1,122.20 $2.982.20 Medicare Income Tax Tax Deducted withheld $ 49.30 $ 338.00 53.65 365.00 59.45 338.00 63.80 436.00 $226.20 $1,477.00 $ 46.40 $ 318.00 49.30 338.00 49.30 338.00 63.80 436.00 $208.80 $1,430.00 $ 53.65 $ 365.00 49.30 338.00 63.80 436.00 49.30 338.00 46.40 318.00 $262.45 $1,795.00 $697.45 $4,702.00 June 2 9 16 23 30 Total Social security Medicare FUTA SUTA 6.2 percent 1.45 0.6 5.4 Required: 1. On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month June]). 2. Complete Form 941 in accordance with the discussions in this chapter. Use a 12.4 percent social security rate and a 2.9 percent Medicare rate in computations. Use the following address for the company: 2300 East Ocean Blvd., Long Beach, CA 90802. Use 75-4444444 as the employer identification number. Date the return July 31, 20X1. Mr. Fronke's phone number is 562-709-3654. Analyze: What is the balance of the Employee Income Tax Payable account at July 15? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 941 Pg Reg 2 941 Po Reg 2 2 Schedule B Analyze On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month [June]). (Round your answers to 2 decimal places.) Required information [The following information applies to the questions displayed below.) A payroll summary for Mark Consulting Company, owned by Mark Fronke, for the quarter ending June 30, 20X1, appears below. The firm made the required tax deposits as follows: a. For April taxes, paid on May 15. b. For May taxes, paid on June 17. Social Security Tax Date Wages Paid April 8 15 22 29 $ May 5 12 19 26 Total Earnings $ 3,400.00 3,700.00 4,100.00 4,400.00 $15,600.00 $ 3,200.00 3,400.00 3,400.00 4,400.00 $14,400.00 $ 3,700.00 3,400.00 4,400.00 3,400.00 3,200.00 $18,100.00 $48,100.00 Deducted $ 210.80 229.40 254.20 272.80 $ 967.20 198.40 210.80 210.80 272.80 $ 892.80 $ 229.40 210.80 272.80 210.80 198.40 $1,122.20 $2.982.20 Medicare Income Tax Tax Deducted withheld $ 49.30 $ 338.00 53.65 365.00 59.45 338.00 63.80 436.00 $226.20 $1,477.00 $ 46.40 $ 318.00 49.30 338.00 49.30 338.00 63.80 436.00 $208.80 $1,430.00 $ 53.65 $ 365.00 49.30 338.00 63.80 436.00 49.30 338.00 46.40 318.00 $262.45 $1,795.00 $697.45 $4,702.00 June 2 9 16 23 30 Total Social security Medicare FUTA SUTA 6.2 percent 1.45 0.6 5.4 Required: 1. On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month June]). 2. Complete Form 941 in accordance with the discussions in this chapter. Use a 12.4 percent social security rate and a 2.9 percent Medicare rate in computations. Use the following address for the company: 2300 East Ocean Blvd., Long Beach, CA 90802. Use 75-4444444 as the employer identification number. Date the return July 31, 20X1. Mr. Fronke's phone number is 562-709-3654. Analyze: What is the balance of the Employee Income Tax Payable account at July 15? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 941 Pg Reg 2 941 Po Reg 2 2 Schedule B Analyze On July 15, the firm issued a check to deposit the federal income tax withheld and the FICA tax (both employee and employer shares for the third month [June]). (Round your answers to 2 decimal places.)