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Yelman Company is a monthly depositor whose tax liability for June 20-- is $3,930. 1. What is the due date for the deposit of
Yelman Company is a monthly depositor whose tax liability for June 20-- is $3,930. 1. What is the due date for the deposit of these taxes? July 15 2. Assume that no deposit was made until August 2 (18 days late). Compute the following penalties. Assume a 365-day year in your computations. Round your answers to the nearest cent. a. Penalty for failure to make timely deposit. b. Penalty for failure to fully pay tax. 393 19.65 21.22 X c. Interest on taxes due and unpaid (assume a 3% interest rate). d. Total penalty imposed. 422.34 X
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