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 Date Security Medicare Income Wages Total Tax Tax Tax Paid Earnings Deducted Deducted Withheld April 8 $ 2,392.00 $ 148.38 $ 34.68 $ 237.00 15 2,480.00 153.76 35.96 244.00 22 2,392.00 148.30 34.68 237.00 29 2,436.00 151.03 35.32 241.00 $ 9,700.00 $ 601.39 $140.64 $ 959.00 May 5 $ 2,348.00 $ 145.58 $ 34.05 $ 233.00 12 2,392.00 148.30 34.68 237.00 19 2,392.00 148.38 34.68 237.00 26 2,436.00 151.03 35.32 241.00 $ 9,568.00 $ 593.21 $138.73 $ 948.00 June 25 2,488.88 $ 153.76 $ 35.96 $ 244.00 9 2,392.00 148.30 34.68 237.00 16 2,436.00 151.03 35.32 241.00 23 2,392.00 148.30 34.68 237.00 30 2,348.00 145.58 34.05 233.00 512,048.00 $ 746.97 $174.69 $1, 192.00 Total $31,316.ee $1,941.57 5454.06 $3,099.00 Social security Medicare FUTA SUTA 6.2 percent 1.45 0.6 5.4 Help Save & Exit SUTA 5.4 Check my wo . 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 retum July 31, 20X1. Mr. Fronke's phone number is 562-709-3654 Analyze: What is the balance of the Employee Income Tax Plyable account at July 15? Complete this question by entering your answers in the tabs below. Reg 1 Red 2 941 Pg Rea 2 941 PU 1 2 Reg 2 Schedule 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.) View transactions Journal entry worksheet Record the entry to deposit payroll taxes for July 15, 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 Date Security Medicare Income Wages Total Tax Tax Tax Paid Earnings Deducted Deducted Withheld April 8 $ 2,392.00 $ 148.38 $ 34.68 $ 237.00 15 2,480.00 153.76 35.96 244.00 22 2,392.00 148.30 34.68 237.00 29 2,436.00 151.03 35.32 241.00 $ 9,700.00 $ 601.39 $140.64 $ 959.00 May 5 $ 2,348.00 $ 145.58 $ 34.05 $ 233.00 12 2,392.00 148.30 34.68 237.00 19 2,392.00 148.38 34.68 237.00 26 2,436.00 151.03 35.32 241.00 $ 9,568.00 $ 593.21 $138.73 $ 948.00 June 25 2,488.88 $ 153.76 $ 35.96 $ 244.00 9 2,392.00 148.30 34.68 237.00 16 2,436.00 151.03 35.32 241.00 23 2,392.00 148.30 34.68 237.00 30 2,348.00 145.58 34.05 233.00 512,048.00 $ 746.97 $174.69 $1, 192.00 Total $31,316.ee $1,941.57 5454.06 $3,099.00 Social security Medicare FUTA SUTA 6.2 percent 1.45 0.6 5.4 Help Save & Exit SUTA 5.4 Check my wo . 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 retum July 31, 20X1. Mr. Fronke's phone number is 562-709-3654 Analyze: What is the balance of the Employee Income Tax Plyable account at July 15? Complete this question by entering your answers in the tabs below. Reg 1 Red 2 941 Pg Rea 2 941 PU 1 2 Reg 2 Schedule 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.) View transactions Journal entry worksheet Record the entry to deposit payroll taxes for July 15,
