PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN: 9781337619783
Author: BIEG
Publisher: CENGAGE L
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Question
Chapter 4, Problem 12PA
a.
To determine
Complete the Company Q’s Federal Deposit Information Worksheets for the fourth Quarter.
b.
To determine
Complete the Form 941 for the fourth quarter of Company Q.
c.
To determine
Complete the Employer’s Report on State Income Tax Withheld for the quarter.
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During the fourth quarter of 2019, there were seven biweekly paydays on Friday (October 4, 18; November 1, 15, 29;December 13, 27) for Quality Repairs. Using the forms supplied on pages 4-46 to 4-49, complete the following forthe fourth quarter:a. Complete the Federal Deposit Information Worksheets reflecting electronic deposits (monthly depositor).The employer’s phone number is (501) 555-7331. Federal deposit liability each pay, $677.68.b. Employer’s Quarterly Federal Tax Return, Form 941. The form is signed by you as president on January31, 2020.c. Employer’s Report of State Income Tax Withheld for the quarter, due on or before January 31, 2020.Quarterly Payroll DataTotal Earnings 5 Employees OASDI HI FIT SIT$18,750.00 $1,162.50 $271.88 $1,875.00 $1,312.50Employer’s OASDI $1,162.50Employer’s HI 271.88Federal deposit liability each pay 677.68
Complete Form 941 for the 2nd quarter of 2020 for Smith's Distributing Co. (employer identification #11-3333333). Assume that Smith's Distributing (located at 819 Main Street, Fremont, CA
94538) chooses to complete and mail Form 941 on the due date. Based on the lookback period, Smith's Distributing is a monthly depositor. Assume that all necessary deposits were made on a
timely basis and that the employer made deposits equal to the total amount owed for the quarter. All five employees worked during each of the three months, and the company does not choose to
allow a third party to discuss the form with the IRS. Note that the form is signed by the company's president, Juan Wilhelm (telephone #510-555-8293). Second quarter earnings, and associated
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Notes:
• For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
April Taxes May Taxes June…
On November 1, 2021, Aviation Training Corp. borrows $60,000 cash from Community Savings and Loan. Aviation Training signs a three-month, 7% note payable. Interest is payable at maturity. Aviation’s year-end is December 31.Required:1. Record the note payable by Aviation Training.2. Record the appropriate adjustment for the note by Aviation Training on December 31, 2021.3. Record the payment of the note at maturity.
Chapter 4 Solutions
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Ch. 4 - Prob. 1SSQCh. 4 - Prob. 2SSQCh. 4 - Prob. 3SSQCh. 4 - Prob. 4SSQCh. 4 - Prob. 5SSQCh. 4 - Prob. 6SSQCh. 4 - Prob. 1MQCh. 4 - Prob. 1QRCh. 4 - Prob. 2QRCh. 4 - Prob. 3QR
Ch. 4 - What is the maximum contribution that an employer...Ch. 4 - Prob. 5QRCh. 4 - Prob. 6QRCh. 4 - Prob. 7QRCh. 4 - Prob. 8QRCh. 4 - Prob. 9QRCh. 4 - Prob. 10QRCh. 4 - Prob. 11QRCh. 4 - Prob. 12QRCh. 4 - Prob. 13QRCh. 4 - Trowbridge Company has just completed the...Ch. 4 - Prob. 15QRCh. 4 - Prob. 16QRCh. 4 - Prob. 17QRCh. 4 - Prob. 18QRCh. 4 - Prob. 19QRCh. 4 - Prob. 20QRCh. 4 - Prob. 1QDCh. 4 - Prob. 2QDCh. 4 - Prob. 3QDCh. 4 - Prob. 4QDCh. 4 - Prob. 5QDCh. 4 - Justin Holmes, an ex-employee, is entitled to a...Ch. 4 - Prob. 1PACh. 4 - Prob. 2PACh. 4 - Prob. 3PACh. 4 - Prob. 4PACh. 4 - Prob. 5PACh. 4 - Prob. 6PACh. 4 - Prob. 7PACh. 4 - Prob. 8PACh. 4 - Prob. 9PACh. 4 - Mattola Company is giving each of its employees a...Ch. 4 - Prob. 11PACh. 4 - Prob. 12PACh. 4 - Prob. 13PACh. 4 - Prob. 1PBCh. 4 - Prob. 2PBCh. 4 - Prob. 3PBCh. 4 - Prob. 4PBCh. 4 - Prob. 5PBCh. 4 - Prob. 6PBCh. 4 - Prob. 7PBCh. 4 - Prob. 8PBCh. 4 - Prob. 9PBCh. 4 - Harrington Company is giving each of its employees...Ch. 4 - Prob. 11PBCh. 4 - During the fourth quarter of 2019, there were...Ch. 4 - Prob. 13PBCh. 4 - Prob. 1CPCh. 4 - Prob. 2CP
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