Question

During the fourth quarter of 20--, there were seven biweekly paydays on Friday (October 4, 18; November 1, 15, 29; December 13, 27) for Quality Repairs. Using the forms supplied below, complete the following forms for the fourth quarter.If an amount or input box does not require an entry, leave it blank or enter "o". Quarterly Payroll Data Total 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 677.68a. Complete the Federal Deposit Information Worksheets reflecting electronic deposits (monthly depositor). Federal deposit liability each pav, $677.68. FEDERAL DEPOSIT INFORMATION WORKSHEET Employer Identification Number 00-0004701 Name QUALITY REPAIRSMonth Tax Year Ends 12 Amount of Deposit 2,710.72 941Type of Tax (Form) 941 Tax Period 4th quarterAddress 10 SUMMIT SQUARE Phone Number (501) 555-7331 City, State, ZIP CITY STATE 00000-0000 To be deposited on or before November 15, 2019

Answer 1

Answer:

The missing figures for Worksheets are;

Type of Tax (Form) - 941

This is used by Employers to report the taxes they withheld from Employee .

Amount of Deposit - $1,355.36

The Federal Deposit Liability per pay was $677,68. There was biweekly payments meaning 2 payments were made in the month so this figure must be multiplied by 2.

= 677.78 * 2

= $1,355.36

Tax Period - 4th Quarter (stated in question)

To be deposited on or before - November 15, 2019

This is because when paying monthly, the due date is always on the 15th of the following month.