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Assume the following data for Sunland Care Dry Cleaning for the year ended December 31 Gross earnings $459.000.00 All employees salaries are greater than $7,000
Assume the following data for Sunland Care Dry Cleaning for the year ended December 31 Gross earnings $459.000.00 All employees salaries are greater than $7,000 in the first quarter of employment Number of employees at the beginning of the year: 10 One new employee hired during fourth quarter (assume employee earns $7.800 before December 31) FUTA deposits for the year: $420.00 Determine the amounts entered on Form 940 for the following line items. $ $ $ $ $ $ Line 3: Total payments to all employees Line 4: Payments exempt from FUTA tax Line 5: Total of payments made to each employee in excess of $7.000 Line 7: Total taxable FUTA wages Line 8: FUTA tax before adjustments Line 13: FUTA tax deposited for the year, including any overpayment applied from a prior year Line 14: Balance due Line 15: Overpayment Line 16a: 1st quarter Line 16b: 2nd quarter Line 16c: 3rd quarter Line 16d: 4th quarter Line 17: Total tax liability for the year $ $ $ $ $ $ $ Assume the following data for Sunland Care Dry Cleaning for the year ended December 31 Gross earnings $459.000.00 All employees salaries are greater than $7,000 in the first quarter of employment Number of employees at the beginning of the year: 10 One new employee hired during fourth quarter (assume employee earns $7.800 before December 31) FUTA deposits for the year: $420.00 Determine the amounts entered on Form 940 for the following line items. $ $ $ $ $ $ Line 3: Total payments to all employees Line 4: Payments exempt from FUTA tax Line 5: Total of payments made to each employee in excess of $7.000 Line 7: Total taxable FUTA wages Line 8: FUTA tax before adjustments Line 13: FUTA tax deposited for the year, including any overpayment applied from a prior year Line 14: Balance due Line 15: Overpayment Line 16a: 1st quarter Line 16b: 2nd quarter Line 16c: 3rd quarter Line 16d: 4th quarter Line 17: Total tax liability for the year $ $ $ $ $ $ $
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