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In Part 5 of Form 940, Peterson Company reported FUTA tax liabilities as follows: First quarter: $397.50 Second quarter: $209.10 Third quarter: $274.50 Fourth quarter: $262.20 List the amounts and the dates of each required FUTA tax deposit: If an amount box does not require an entry, enter "0" and select "-" from the dropdown.

Respuesta :

Answer and Explanation:

As we know that the FUTA should be deposited at the last day of the ending the quarter when it is more than the $500 and if it is less than $500 so it should be carried forward to the next quarter and then the total amount is deposited.

Particulars                           Amount    Date of deposit

First quarter: $397.50          -                 -

Second quarter: $209.10   $606.60   31 -07

                                        ($397.50 + $209.10)

Third quarter: $274.50          -                 -

Fourth quarter: $262.20   $536.70     31 - 01

                                       ($274.50 + $262.20)

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