Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Content Rabbit Graphics Company paid its 25 employees a total of $863,428.49 during 2016. Of these wages, $5,400 is exempt fringe benefits (Section 125

image text in transcribedimage text in transcribedimage text in transcribed

The Content Rabbit Graphics Company paid its 25 employees a total of $863,428.49 during 2016. Of these wages, $5,400 is exempt fringe benefits (Section 125 cafeteria plans) and $9,850 is exempt retirement benefits (employer contributions to 401(k) plans). All employees have worked there for the full calendar year and reached the FUTA wage base during the first quarter, taxes were deposited then. The Content Rabbit Graphics Company is located at 3874 Palm Avenue, Sebring, Florida, 20394. The owner is Eula Parks, EIN is 99-2039485, phone number is 461-555-9485. Complete Form 940. -(NOTE): Instructions on format can be found on certain cells within the forms. Complete this question by entering your answers in the tabs below 940 PG 1 Page 2 of Form 940. (Round your answers to 2 decimal places.) The Content Rabbit Graphics Company paid its 25 employees a total of $863,428.49 during 2016. Of these wages, $5,400 is exempt fringe benefits (Section 125 cafeteria plans) and $9,850 is exempt retirement benefits (employer contributions to 401(k) plans). All employees have worked there for the full calendar year and reached the FUTA wage base during the first quarter, taxes were deposited then. The Content Rabbit Graphics Company is located at 3874 Palm Avenue, Sebring, Florida, 20394. The owner is Eula Parks, EIN is 99-2039485, phone number is 461-555-9485. Complete Form 940. -(NOTE): Instructions on format can be found on certain cells within the forms. Complete this question by entering your answers in the tabs below 940 PG 1 Page 2 of Form 940. (Round your answers to 2 decimal places.)

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

Managerial Accounting

Authors: Kulp, Susan, Dragoo, Amie, Hartgraves, Al L, Morse Wayne J.

9th Edition

1618533622, 9781618533623

More Books

Students also viewed these Accounting questions