Required Information [The following information applles 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 Aprll taxes, pald on May 15. b. For May taxes, paid on June 17. Requlred: 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 Identlfication number. Date the return July 31, 20X1. Mr. Fronke's phone number is 562-709-3654. Requlred: 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 soclal 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 Identlfication 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. 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 Page 1 of Form 941. (Round your answers to 2 decimal places.) Form 941 for 20X1: Employer's QUARTERLY Federal Tax Return (Rev. January 20X1) (Rev. January 20X1) Employer ID number (EIN - enter as xxxxxxxx) Name (not your trade name) Trade name (if any) Address Department of the Treasury - Internal Revenue Service 950113 OMB No. 1545-0029 Report for this Quarter of 201 (Check one.) 1: 2 3. 4 : City State (NN) ZP code Foreign country name Postal code January, February, March April, May, June July, August, September October, November, December Instructions and prior year forms are available at www. irs.goviform 841 . Read the separate instructions before you complete this Form 941. Please type or print within the boxes. Part 1: Answer these questions for this quarter. 1 Number of employees who received wages, tips, or other compensation for the pay period including: Mar. 12 (Quarter 1), June 12 (Quarter 2). Sept. 12 (Quarter 3), or Dec. 12 (Quarter 4) 2 Wages, tips, and other compensation 3 Federal income tax withheld from wages, tips, and other compensation 4 If no wages, tips, and other compensation are subject to social security or Medicare tax Check and go to line 6 . 5a Taxable social security wages 5b Taxable social security tips 5c Taxable Medicare wages \& tips 5d Taxable wages \& tips subject to Additional Medicare Tax withholding 5e Add Column 2 from lines 5a,5b,5c, and 5d Column1 Column 2 5f Section 3121(q) Notice and Demand - Tax due on unreported tips 6 Total taxes before adjustments. Add lines 3,5e, and 5f 7 Current quarter's adjustment for fractions of cents 8 Current quarter's adjustment for sick pay 9 Current quarter's adjustments for tips and group-term life insurance 10 Total taxes after adjustments. Combine lines 8 through 11 Qualified small business payroll tax credit for increasing research activities. Attach Form 8974 12 Total taxes after adjustments and credits. Subtract line 11 from line 10 13 Total deposits for this quarter, including overpayment applied from a prior quarter and overpayments applied from Form 941-X, 941-X (PR), 944-X, 944-X (PR), or 944-X (SP) filed in the current quarter 14 Balance due. If line 12 is more than line 13 , enter the difference and see instructions 15 Overpayment. If line 13 is more than line 12 , enter the difference Check one: Apply next return Send a refund You MUST complete both pages of Form 941 and SIGN it. For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher. Cat. No. 170012 0.124 0.124 0.028 0.008 \begin{tabular}{|r|} \hline 0.00 \\ \hline 0.00 \\ \hline 0.00 \\ \hline 0.00 \\ \hline \end{tabular} (see instructions) THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM IT SELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 62019 McGraw-Hill Education. Req 1 Req 2941Pg2 1 Required Information [The following informotion opplies to the questions disployed below] A poyroll summary for Mark Consulting Compony, owned by Mark Fronke, for the quorter ending June 30, 20X1, oppears below. The firm mode the required tox deposits as follows: a. For April toxes, paid on May 15. b. For May toxes, poid on June 17. Required: 1. On July 15, the firm issued a check to deposit the federol income tox withheld and the FICA tax (both employee snd employer shares for the third month [June]. 2 Complete Form 941 in accordance with the discussions in this chepter. Use o 124 percent social security rate and a 2.9 percent Medicare rate in computations. Use the following address for the compsny. 2300 Esst Ocesn Blvd., Long Besch, CA 90802 Use 754444444 os the employer identificstion number. Dste the return July 31, 201. Mr. Fronke's phone number is 5627093654. Analyze: What is the bolsnce of the Employee Income Tax Payable sccount at July 15? Complete this question by entering your answers in the tabs below. What is the balance of the Employee Income Tax Payable account at July 15? Required Information [The following information applles 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 Aprll taxes, pald on May 15. b. For May taxes, paid on June 17. Requlred: 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 Identlfication number. Date the return July 31, 20X1. Mr. Fronke's phone number is 562-709-3654. Requlred: 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 soclal 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 Identlfication 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. 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 Page 1 of Form 941. (Round your answers to 2 decimal places.) Form 941 for 20X1: Employer's QUARTERLY Federal Tax Return (Rev. January 20X1) (Rev. January 20X1) Employer ID number (EIN - enter as xxxxxxxx) Name (not your trade name) Trade name (if any) Address Department of the Treasury - Internal Revenue Service 950113 OMB No. 1545-0029 Report for this Quarter of 201 (Check one.) 1: 2 3. 4 : City State (NN) ZP code Foreign country name Postal code January, February, March April, May, June July, August, September October, November, December Instructions and prior year forms are available at www. irs.goviform 841 . Read the separate instructions before you complete this Form 941. Please type or print within the boxes. Part 1: Answer these questions for this quarter. 1 Number of employees who received wages, tips, or other compensation for the pay period including: Mar. 12 (Quarter 1), June 12 (Quarter 2). Sept. 12 (Quarter 3), or Dec. 12 (Quarter 4) 2 Wages, tips, and other compensation 3 Federal income tax withheld from wages, tips, and other compensation 4 If no wages, tips, and other compensation are subject to social security or Medicare tax Check and go to line 6 . 5a Taxable social security wages 5b Taxable social security tips 5c Taxable Medicare wages \& tips 5d Taxable wages \& tips subject to Additional Medicare Tax withholding 5e Add Column 2 from lines 5a,5b,5c, and 5d Column1 Column 2 5f Section 3121(q) Notice and Demand - Tax due on unreported tips 6 Total taxes before adjustments. Add lines 3,5e, and 5f 7 Current quarter's adjustment for fractions of cents 8 Current quarter's adjustment for sick pay 9 Current quarter's adjustments for tips and group-term life insurance 10 Total taxes after adjustments. Combine lines 8 through 11 Qualified small business payroll tax credit for increasing research activities. Attach Form 8974 12 Total taxes after adjustments and credits. Subtract line 11 from line 10 13 Total deposits for this quarter, including overpayment applied from a prior quarter and overpayments applied from Form 941-X, 941-X (PR), 944-X, 944-X (PR), or 944-X (SP) filed in the current quarter 14 Balance due. If line 12 is more than line 13 , enter the difference and see instructions 15 Overpayment. If line 13 is more than line 12 , enter the difference Check one: Apply next return Send a refund You MUST complete both pages of Form 941 and SIGN it. For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher. Cat. No. 170012 0.124 0.124 0.028 0.008 \begin{tabular}{|r|} \hline 0.00 \\ \hline 0.00 \\ \hline 0.00 \\ \hline 0.00 \\ \hline \end{tabular} (see instructions) THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM IT SELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 62019 McGraw-Hill Education. Req 1 Req 2941Pg2 1 Required Information [The following informotion opplies to the questions disployed below] A poyroll summary for Mark Consulting Compony, owned by Mark Fronke, for the quorter ending June 30, 20X1, oppears below. The firm mode the required tox deposits as follows: a. For April toxes, paid on May 15. b. For May toxes, poid on June 17. Required: 1. On July 15, the firm issued a check to deposit the federol income tox withheld and the FICA tax (both employee snd employer shares for the third month [June]. 2 Complete Form 941 in accordance with the discussions in this chepter. Use o 124 percent social security rate and a 2.9 percent Medicare rate in computations. Use the following address for the compsny. 2300 Esst Ocesn Blvd., Long Besch, CA 90802 Use 754444444 os the employer identificstion number. Dste the return July 31, 201. Mr. Fronke's phone number is 5627093654. Analyze: What is the bolsnce of the Employee Income Tax Payable sccount at July 15? Complete this question by entering your answers in the tabs below. What is the balance of the Employee Income Tax Payable account at July 15