Chang Company is trying to determine how often it needs to deposit payroll taxes for calendar year 2022. The company made the following quarterly payroll tax deposits during the last two years: Quarter beginning January 1, 2020 $ 10,000 Quarter beginning April 1, 2020 10,000 Quarter beginning July 1, 2020 9,750 Quarter beginning October 1, 2020 11,750 Quarter beginning January 1, 2021 11,750 Quarter beginning April 1, 2021 11,750 Quarter beginning July 1, 2021 9,750 Quarter beginning October 1, 2021 11,750 a-What is the amount from the lookback period? b-In 2022, how often must Chang Company make payroll deposits?
Chang Company is trying to determine how often it needs to deposit payroll taxes for calendar year 2022. The company made the following quarterly payroll tax deposits during the last two years: Quarter beginning January 1, 2020 $ 10,000 Quarter beginning April 1, 2020 10,000 Quarter beginning July 1, 2020 9,750 Quarter beginning October 1, 2020 11,750 Quarter beginning January 1, 2021 11,750 Quarter beginning April 1, 2021 11,750 Quarter beginning July 1, 2021 9,750 Quarter beginning October 1, 2021 11,750 a-What is the amount from the lookback period? b-In 2022, how often must Chang Company make payroll deposits?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Chang Company is trying to determine how often it needs to deposit payroll taxes for calendar year 2022. The company made the following quarterly payroll tax deposits during the last two years:
Quarter beginning January 1, 2020 | $ 10,000 |
---|---|
Quarter beginning April 1, 2020 | 10,000 |
Quarter beginning July 1, 2020 | 9,750 |
Quarter beginning October 1, 2020 | 11,750 |
Quarter beginning January 1, 2021 | 11,750 |
Quarter beginning April 1, 2021 | 11,750 |
Quarter beginning July 1, 2021 | 9,750 |
Quarter beginning October 1, 2021 | 11,750 |
a-What is the amount from the lookback period?
b-In 2022, how often must Chang Company make payroll deposits?
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