Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 17, 2018. For the purpose of the taxes, assume

The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 17, 2018. For the purpose of the taxes, assume the second February payroll amounts were duplicated for the March 10 and March 24 payroll periods and the new benefit elections went into effect as planned. The form was completed and signed on April 11, 2018.

Benefit InformationExclude:

FederalFICAHealth InsuranceYesYesLife InsuranceYesYesLong-term CareYesYesFSAYesYes401(k)YesNoGymNoNo

Owner's name: Toni Prevosti

Address: 850, Westminster Road, Bridgewater, VT, 00520.

Phone: 802-555-3456

Number of employees: 8

Quarterly wages: $32,010.19

Federal income tax withheld: $942.00

401(k) contributions: $1,257.65

Insurance withheld: $4,080.00

Gym membership: $90.00

Monthly DepositsAmountMonth 1$0Month 2$2,109.22Month 3$3,106.08

Required:

Complete Form 941 for Prevosti Farms and Sugarhouse. Prevosti Farms and Sugarhouse was assigned EIN 22-6654454.

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

Accounting Multicolumn Journal

Authors: Claudia Gilbertson

10th Edition

128552845X, 9781285528458

More Books

Students also viewed these Accounting questions

Question

Get married, do not wait for me

Answered: 1 week ago

Question

Do not pay him, wait until I come

Answered: 1 week ago

Question

Do not get married, wait until I come, etc.

Answered: 1 week ago