close solutoin list

For the third quarter of the year, Barney Construction, 715 Red Rock Boulevard, San Francisco, California 94121, received Form 941 from the District Office of the Internal Revenue Service. The identification number for Barney Construction is 91-7382476. Its payroll for the quarter ended September 30 is as follows. The company has had six employees throughout the year. Assume that the FICA Social Security (employer) is 6.2 percent, the FICA Social Security (employee) is 6.2 percent on the first $118,500, and the Medicare tax is 1.45 percent of all earnings. The employer matches the employees’ FICA Medicare taxes. There are no taxable tips, adjustments, backup withholding, or earned income credits. Barney Construction has submitted the following federal tax deposits and written the accompanying checks: Required Complete Part 1 of Form 941 for the third quarter for Barney Construction.

BuyFind

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570
BuyFind

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570

Solutions

Chapter
Section
Chapter 8, Problem 3PB
Textbook Problem

For the third quarter of the year, Barney Construction, 715 Red Rock Boulevard, San Francisco, California 94121, received Form 941 from the District Office of the Internal Revenue Service. The identification number for Barney Construction is 91-7382476. Its payroll for the quarter ended September 30 is as follows.

Chapter 8, Problem 3PB, For the third quarter of the year, Barney Construction, 715 Red Rock Boulevard, San Francisco, , example  1

The company has had six employees throughout the year. Assume that the FICA Social Security (employer) is 6.2 percent, the FICA Social Security (employee) is 6.2 percent on the first $118,500, and the Medicare tax is 1.45 percent of all earnings. The employer matches the employees’ FICA Medicare taxes. There are no taxable tips, adjustments, backup withholding, or earned income credits. Barney Construction has submitted the following federal tax deposits and written the accompanying checks:

Chapter 8, Problem 3PB, For the third quarter of the year, Barney Construction, 715 Red Rock Boulevard, San Francisco, , example  2

Required

Complete Part 1 of Form 941 for the third quarter for Barney Construction.

Expert Solution

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

See Solution

*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.

Chapter 8 Solutions

College Accounting (Book Only): A Career Approach
Show all chapter solutions
Ch. 8 - Describe the journal entry to: a. Record the...Ch. 8 - Explain the deposit requirement for federal...Ch. 8 - What is the purpose of Form 941? How often is it...Ch. 8 - How many copies are made of a Form W-2? Who uses...Ch. 8 - What is the purpose of Form 940? How often is it...Ch. 8 - Generally, what is the time schedule for payment...Ch. 8 - Explain the advantage of establishing a tax...Ch. 8 - Explain how payroll fraud can be prevented.Ch. 8 - Signature Companys partial payroll register for...Ch. 8 - On January 14, at the end of the second week of...Ch. 8 - Go Systems had the following payroll data for...Ch. 8 - The information on earnings and deductions for the...Ch. 8 - Selected columns of Envirocon Companys payroll...Ch. 8 - On September 30, Cody Companys selected account...Ch. 8 - On September 30, Hilltop Companys selected payroll...Ch. 8 - Great Manufacturing Company received and paid a...Ch. 8 - Mooney Labs had the following payroll for the week...Ch. 8 - Complete Accounting Services has the following...Ch. 8 - For the third quarter of the year, Johnson...Ch. 8 - Lynden Company has the following balances in its...Ch. 8 - Jacks Lawn Service Company has the following...Ch. 8 - Kovarik Company had the following payroll for the...Ch. 8 - Kays Agency has the following payroll information...Ch. 8 - For the third quarter of the year, Barney...Ch. 8 - Grande Company has the following balances in its...Ch. 8 - Sharons Dance Studio has the following information...Ch. 8 - TruGreen is the worlds largest lawn and landscape...Ch. 8 - Between the end of one month and the 15th day of...

Additional Business Textbook Solutions

Find more solutions based on key concepts
Show solutions
What adverse effect might be caused by tax incentives to increase saving?

Principles of Macroeconomics (MindTap Course List)

EXCHANGE RATES Table 17.1 lists foreign exchange rates for June 11, 2013. On that day, how many dollars would b...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

Give an example of budgetary slack.

Survey of Accounting (Accounting I)

What is tactical decision making?

Cornerstones of Cost Management (Cornerstones Series)

Could the United States ever experience another Great Depression? Why or why not?

Macroeconomics: Private and Public Choice (MindTap Course List)