SB Problem 11.4A (Static) and Problem 11.5A (Static). [The following information applies to the questions displayed below.) Certain transactions and procedures relating to federal and state unemployment taxes follow for Robin's Nest LLC, a retail store owned by Robin Roberts. The firm's address is 2007 Lovely Lane, Dallas, TX 75268-0967. The firm's phone number is 972-456-1200.The employer's federal and state identification numbers are 75-9462315 and 37-9462315, respectively. Carry out the procedures as instructed in each of the following steps. References Section Break SB Problem 11.4A (Static) and Problem 115A (Static Award: 8.00 points Problem 11.5A (Static) Computing and recording unemployment taxes; completing Form 940. LO 11-6, 11-7 Quarter Ended Mar. 31 June 30 Sept. 30 Dec 31 Totals Wages Paid State Total in Excess Unemployment Wages Paid of $7,000 Tax Paid $ 25,200.00 -0- $ 428.40 30,800.00 10,000.00 353.60 37,000.00 25,000.00 204.00 49,000.00 42,000.00 119.00 $142,000.00 $77,000.00 $1,105.00 Required: 1. Complete Form 940, the Employer's Annual Federal Unemployment Tax Return Assume that all wages have been paid and that all quarterly payments have been submitted to the state as required. The payroll information for 20X1 appears above. The federal tax deposits were submitted as follows: a deposit of $151.20 on April 21, a deposit of $124.80 on July 22, and a deposit of $72.00 on October 21. Date the unemployment tax return January 28, 20X2. A check for the balance due as per line 14, Part 4, will be sent with Form 940. 2. In general journal form, record issuance of a check on January 28, 20X2, for the balance of FUTA tax due for 20X1. Req 1 940 PG Req 1 940 PG 1 Reg 2 Amended DOO Page 1 of Form 940 Form 940 for 20x1: Employer's Annual Federal Unemployment (FUTA) Tax Return 850113 Department of the Treasury Internal Reverse Service OMB No 1545-0028 Employer ID number (EIN enter as me XXXXKKK) Type of Return (Check all that apply.) Name (not your trade name) Trade name (if any) Successor employer Address Number No payments to employees in 20X1 Street Sute or room number Final Business closed or stopped paying City State (NN) ZIP code wagos Foreign country name Foron province county Instructions and prior year forma are available at www.in.goo040 Foreign Postal code Read the separate instructions before you complete this form. Please type of print within the boxes Part 1: Tell us about your return. If any line does NOT apply, leave it blank. See Instructions before completing Part 1 1a If you had to pay state unemployment tax in one stato only enter the state abbreviation (in Capital Letters ta 16 if you had to pay state unemployment tax in more than one utate, you are a multi-state employer, check here Complete Sched 1b 2 #you paid wapen in a state that is subject to CREDIT REDUCTION, check here Complete Sched Part 2 Determine your FUTA tax before adjustments. I any line does not apply, leave it blank. (Round your answers to 2 decimal places.) Total payments to all employees 4 Payments exempt from FUTA TAK Check that oply a Fringe benefits 4. Retirement Pension 4. Other 46 Group mie insurance 4. Dependent care Total of payments made to each employee in excess of 87.000 Subtotal in 4 lines) 0.00 7 Total taxable PUTA wages Oine line 6ine Tee instructions) 0.00 # FUTA tax before adjustments fina 7006 line 6) Part 3: Determine your adjustments. If any line does NOT apply, leave it blank ALL of the taxable PUTA wages you paid were excluded from state unemployment tax, multiply line 7 by 0.054 fine 7x0054 Go to line 12 10 iF SOME of the taxable FUTA wages you paid were excluded from state unemployment tax. Or you paid ANY state unemploy ment tax inte (chor the due date for Sing Form) complete the work in the instruction Enter the mount from ine 70 the worksheet 10 11 credit reduction applies, enter the total from Schedule AlForm 040) 11 Determine your FUTA tax and balance due or overpayment. If any line does NOT apply, leave it blank. (Round your answers to 2 Part 4: decimal places.) 12 Total FUTA tax after adjustments One 8 + 110 + 11 i 12) 12 0.00 13 FUTA tax deposited for the year, including any overpayment applied from a prior your 14 Balance de fine 12 is more than in 13, the excess on line 14) Iline 14 is more than $500, you must deposit your tax . Il line 145500 or you may pay with this retum. (ve instructions) 14 0.00 15 Overpayment of line 13 is more than line 12, enter the excess on line 15 and check a box below) 15 0.00 YOU MUST complete both pages of this form and SIGN Check one Amply to return Send a refund Next For Privacy Act and Paperwork Reduction Act Notice, see the back of Form 340-V. Payment Voucher Cal No 11240 Form 140 120X1 THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF DO NOT USE THIS FORM FOR Page 2 of Form 940 Name (not your trade name) Employer ID number (EIN-enter as XXXKKEEK) Part 5 Report your FUTA tax liability by quarter only if line 12 is more than $500. If not, go to Part 6. (Round your answers to 2 decimal places.) 16 Report the amount of your FUTA tax liability for each quarter; do NOT enter the amount you deposited. If you had no liability for a quarter, enter "o", 16a 1st quarter January 1. March 31) 16a 166 2nd quarter (April 1. June 30) 16 16 3rd quarter July 1 - September 30) 1601 16d 4th quarter (October - December 31) 160 17 Total tax liability for the year (line 16a + 16 + 16 + 16 = line 17) 171 0.00 Part 6 May we speak with your third-party designeo? Do you want to allow an employes, a paid tax preparer, or another person to discuss this return with the IRS? See the instructions for details Designer's name and phone number Select a 5-digit Personal identification Number OPIN to use when talking to RS Part 7 Sign here. You MUST complete both pages of this form and SIGN it. Under penalties of perjury, I declare that have examined this return, including accompanying schedules and woments, and to the best of my knowledge and beat is true correct, and complete, and that no part of any payment made to a state unemployment fund claimed as a credit was, or is to be deducted from the payments made to employeus. Declaration of preparar (other than taxpayer) based on all information of which preparer has any knowledge 9724561200 Sign your name here Dute (mm) 01/28/20x2 Paid Preparer Use Only Preparer's name Preparere sine F's name for your looked Address Print your name here Robin Robert Print your there Owner President Best daytime phone www.o.2001 Check if you were employed PTIN teddy EIN Phone 2P State) City Page 2 Form 940 (20X1) THINFORMISARIMINATION OF AN OFFICIAL STAY FORM IT IS NOT THE OFFICIAL FORUTSELE DO NOT USE THIS FORU Journal entry worksheet