[The following information applies 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 April taxes, paid on May 15. b. For May taxes, paid on June 17. Date Wages Paid April 8 15 22 29 Total Earnings $ 3,400.ee 3,780.ee 4,100.00 4,400.00 $ 15,600.00 Social Security Tax Deducted $ 210.80 229.40 254.20 272.80 $ 967.2e 100 A Medicare Tax Deducted $ 49.30 53.65 59.45 63.88 $ 226.28 CACA Income Tax Withheld $ 338.00 365.ee 338.00 436.00 $1,477.00 319 00 c MS 2100 00 May 5 12 19 26 June 2 9 16 23 30 $ 15,600.00 $ 3,200.00 3,400.00 3,400.00 4,400.00 $ 14,400.00 $ 3,700.00 3,400.00 4,400.00 3,400.00 3,200.00 $ 18,100.00 $ 48,100.00 $ 967.20 $ 198.40 210.80 210.80 272.80 $ 892.80 $ 229.40 210.80 272.80 210.80 198.40 $ 1,122.20 $ 2,982.20 $ 226.20 $ 46.40 49.30 49.30 63.80 $ 208.80 $ 53.65 49.30 63.80 49.30 46.40 $262.45 $ 697.45 $1,477.00 $ 318.00 338.00 338.00 436.00 $1,430.00 $ 365.00 338.00 436.00 338.00 318.00 $1,795.00 $ 4,702.00 Total percent Social security Medicare FUTA SUTA 6.2 1.45 0.6 5.4 Required: 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 identification number. Date the return July 31, 201. 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. Reg 1 Req 2 941 Pg Req 2 941 Pg 1 2 Reg 2 Schedule B Analyze [The following information applies 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 April taxes, paid on May 15. b. For May taxes, paid on June 17. Date Wages Paid April 8 15 22 29 Total Earnings $ 3,400.ee 3,780.ee 4,100.00 4,400.00 $ 15,600.00 Social Security Tax Deducted $ 210.80 229.40 254.20 272.80 $ 967.2e 100 A Medicare Tax Deducted $ 49.30 53.65 59.45 63.88 $ 226.28 CACA Income Tax Withheld $ 338.00 365.ee 338.00 436.00 $1,477.00 319 00 c MS 2100 00 May 5 12 19 26 June 2 9 16 23 30 $ 15,600.00 $ 3,200.00 3,400.00 3,400.00 4,400.00 $ 14,400.00 $ 3,700.00 3,400.00 4,400.00 3,400.00 3,200.00 $ 18,100.00 $ 48,100.00 $ 967.20 $ 198.40 210.80 210.80 272.80 $ 892.80 $ 229.40 210.80 272.80 210.80 198.40 $ 1,122.20 $ 2,982.20 $ 226.20 $ 46.40 49.30 49.30 63.80 $ 208.80 $ 53.65 49.30 63.80 49.30 46.40 $262.45 $ 697.45 $1,477.00 $ 318.00 338.00 338.00 436.00 $1,430.00 $ 365.00 338.00 436.00 338.00 318.00 $1,795.00 $ 4,702.00 Total percent Social security Medicare FUTA SUTA 6.2 1.45 0.6 5.4 Required: 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 identification number. Date the return July 31, 201. 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. Reg 1 Req 2 941 Pg Req 2 941 Pg 1 2 Reg 2 Schedule B Analyze
