Transaction No. 36 Complete Form 940 for Glo-Brite Company. a. Total wages for the first three quarters
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Transaction No. 36
Complete Form 940 for Glo-Brite Company.
a.Total wages for the first three quarters was $142,224.57. FUTA taxable wages for the first three quarters was $65,490.00.
b.FUTA tax liability by quarter: 1st quarter-$204.53, 2nd quarter-$105.25, 3rd quarter-$83.16. The first FUTA deposit is now due.
c.Journalize the entry to record the electronic deposit for the FUTA tax liability.
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