EBK PAYROLL ACCT.,2019 ED.
19th Edition
ISBN: 9781337673198
Author: BIEG
Publisher: Cengage Learning
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Question
Chapter 3, Problem 16PB
1.
To determine
Identify the due date for the deposit of the given taxes.
2.
To determine
Calculate the following penalties that would be imposed to Company Y if there is no deposit till August 2.
- a. Penalty for failure to make timely deposit.
- b. Penalty for failure to fully pay tax.
- c. Interest on taxes due and unpaid (assume a 5% interest rate).
- d. Total penalty imposed.
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1. What is the due date for the deposit of these taxes?April 15
2. Assume that no deposit was made until April 29 (14 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.
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c.
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d.
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Chapter 3 Solutions
EBK PAYROLL ACCT.,2019 ED.
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