Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

tax liability - blank auw 2 Computation of 941 tax liability for problem 3-14B: 3 4 Gross per weekly period: 5 Total gross for the

tax liability - blank image text in transcribed
image text in transcribed
auw 2 Computation of 941 tax liability for problem 3-14B: 3 4 Gross per weekly period: 5 Total gross for the quarter-wages Total tips for the quarter Total wages and tips for the quarter 7 8 9 10 Total gross per weekly pay period (132,053.30/13 weeks) 11 Gross Taxes Tax Rate 12.4% 2.9% 14 12 941 tax liability per weekly pay period: 13 1. combined OASDi taxes 2. combined Hl taxes 15 3. FIT per weekly pay period (8,216/13) 16 Total 941 tax liability per weekly pay period 17 18 941 tax liability per month and the quarter: 19 941 tax liability per pay period 20 times number of pay periods during the month 21 941 tax liability each month July August September Total 22 23 941 tax liability per form 941: 24 line 5 (a)-combined OASDI for the quarter 25 line 5 (c) - combined Hl for the quarter 26 line 3-total FIT withheld for the quarter 27 line 6-total 941 taxes for the quarter 28 auw 2 Computation of 941 tax liability for problem 3-14B: 3 4 Gross per weekly period: 5 Total gross for the quarter-wages Total tips for the quarter Total wages and tips for the quarter 7 8 9 10 Total gross per weekly pay period (132,053.30/13 weeks) 11 Gross Taxes Tax Rate 12.4% 2.9% 14 12 941 tax liability per weekly pay period: 13 1. combined OASDi taxes 2. combined Hl taxes 15 3. FIT per weekly pay period (8,216/13) 16 Total 941 tax liability per weekly pay period 17 18 941 tax liability per month and the quarter: 19 941 tax liability per pay period 20 times number of pay periods during the month 21 941 tax liability each month July August September Total 22 23 941 tax liability per form 941: 24 line 5 (a)-combined OASDI for the quarter 25 line 5 (c) - combined Hl for the quarter 26 line 3-total FIT withheld for the quarter 27 line 6-total 941 taxes for the quarter 28

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Walter B. Meigs, A. N. Mosich, Robert F. Meigs

2nd Edition

0070412901, 978-0070412903

More Books

Students also viewed these Accounting questions

Question

How can evaluation of LMD become more than an act of faith?

Answered: 1 week ago