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Karen Kluster opened Lube and Wash on January 1, 2013. The business is subject to FICA taxes. At the end of the first quarter of 2013, Kluster, as president of the company, must file Form 941, Employer's Quarterly Federal Tax Return. Using Form 941(Parts 1 through 5), reproduced on pages 3-42 and 3-43, prepare, sign, and date the return on the basis of the information shown below.
Employer's address:
234 Oak, Austin, TX 78711-0234
Employer's ID number:
00-0005874
Phone number:
(512) 555-1111
Each employee is paid semimonthly on the 15th and last day of each month. Shown below is the payroll information for the first quarter of 2013. All pay periods were the same.
Prepare journal entries to record the following four separate issuances of stock.
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