As the accountant for Monroe Trucking Company, you are preparing the company's annual return, Form 940 and Schedule A. Use the following information to complete Form 940 and Schedule A. The net FUTA tax liability for each quarter of 20-- was as follows: 1st, $97.00; 2nd, $87.00; 3rd, $69.70; and 4th, $59.50. Since the net FUTA tax liability did not exceed $500, the company was not required to make its first deposit of FUTA taxes until January 31 of the next year. Assume that the electronic payment was made on time. a. One of the employees performs all of his duties in another state—Louisiana. b. Total payments made to employees during calendar year 20--: Texas $53,450 Louisiana 22,150 Total $75,600 c. Employer contributions into employees' 401(k) retirement plan: $1,250. d. Payments made to employees in excess of $7,000: $22,150. e. Confirm that the form was signed by Vernon Scott, Vice President, and dated 1/31/--. f. Confirm that the correct phone number has been inserted on the form — (834) 555-5551.
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As the accountant for Monroe Trucking Company, you are preparing the company's annual return, Form 9...
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