Collin's Pool Service Files a Form 944 to Report Its

question 52

Multiple Choice

Collin's Pool Service files a Form 944 to report its payroll tax liability.Line 5 had a total of $2,648.96.Line 13m in Part 2 reported wages of $2,649.00.What needs to be done to reconcile the two amounts?

• A)$0.04 needs to be added via line 6 for the current year's adjustments.
• B)$0.04 needs to be subtracted via line 6 for the current year's adjustments.
• C)Nothing needs to be done because both totals are correctly computed.
• D)Change line 5 to match line 13m.

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Definitions:

Net Worth

The total assets minus total liabilities of an individual or company, indicating financial health.

Liabilities

Financial obligations or debts owed by a company or individual.

Commercial Banks

Financial institutions that provide various financial services, including accepting deposits, offering business and personal loans, and other investment products.

Security Selection

The process of choosing individual securities for investment with the aim of achieving a portfolio's investment goals.