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(solution) Payroll Section CDIRECTIONS: The information given below was


Payroll


Section C?DIRECTIONS: The information given below was taken from the payroll records of Clegg Company

(Oregon employer) for 20--. Use the information to complete the partially illustrated Form 940 shown below. Assume

that all taxes were deposited timely. (2½ points for each correct answer)

Total remuneration:

$155,900

Included in the total remuneration is $3,000 of

employer?s contributions

to the employees? 401(k)

plans.

Remuneration in

excess of $7,000:

$66,670

Taxable remuneration

by quarters:

1st quarter ........ $43,700

2nd quarter ....... $24,940

3rd quarter ........ $14,360

4th quarter ........ $ 3,230


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