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Figure 5.2 and Figure 5.4 Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2017 rates were used for FUTA and SUTA Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. 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 2018 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, 2019. 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 2018: Texas Louisiana Total 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. f. Confirm that the correct phone number has been inserted on the form-(834) 555-5551. $53,450 22,150 $75,600 Figure 5.2 and Figure 5.4 Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2017 rates were used for FUTA and SUTA Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. 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 2018 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, 2019. 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 2018: Texas Louisiana Total 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. f. Confirm that the correct phone number has been inserted on the form-(834) 555-5551. $53,450 22,150 $75,600

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