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What amounts would be entered on form 941 for the following line items? Assume the following data for Sheridan Tattoo Parlor for the quarter ended
What amounts would be entered on form 941 for the following line items?
Assume the following data for Sheridan Tattoo Parlor for the quarter ended September 30. - Number of employees for third quarter: 7 - Gross earnings $59,373.60 - Employee FICA taxes $4,543.96 - Federal income tax $12,396.80 - State income tax $1,894.20 - Employer FICA taxes $4,547.96 - Federal unemployment tax $16.20 - State unemployment tax $136.12 - Monthly federal income tax and FICA tax liability: July $7,937.72, August $7,287.33, and September $6,241.60 - Federal income tax and FICA tax total monthly deposits for third quarter: $21,822.10 What amounts would be entered on Form 941 for the following line items? (Round answers to 2 decimal places, e.g. 52.75.) Line 3: Federal income tax withheld. Line 5a (Column 2): Taxable Social Security wages. $ Line 5c (Column 2): Taxable Medicare wages and tips. $ Line 6: Total taxes before adjustments. $ Line 11: Total deposits for this quarter. Line 12: Balance due. $ Line 13: Overpayment. $ $Step by Step Solution
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