For the first quarter of 2008, DC Construction Company paid total wages of $320,900. The company withheld $51,250 for federal income tax. All wages paid were subject to Social Security and Medicare taxes. If during the quarter DC Construction Company had deposited $95,000 toward its taxes due, how much would be required to send in with its first-quarter Form 941?

Question

For the first quarter of 2008, DC Construction Company paid total wages of $320,900. The company withheld $51,250 for federal income tax. All wages paid were subject to Social Security and Medicare taxes. If during the quarter DC Construction Company had deposited $95,000 toward its taxes due, how much would be required to send in with its first-quarter Form 941?​

Quizplus · Accepted Answer

The Answer of For the first quarter of 2008, DC Construction Company paid total wages of $320,900. The company withheld $51,250 for federal income tax. All wages paid were subject to Social Security and Medicare taxes. If during the quarter DC Construction Company had deposited $95,000 toward its taxes due, how much would be required to send in with its first-quarter Form 941?​

For the First Quarter of 2008, DC Construction Company Paid