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:

Variable Cost

Costs that vary directly with the level of production or output, such as raw materials and labor expenses, adjusting as the volume of production increases or decreases.

Credit Policy

Guidelines that a company follows to determine the creditworthiness of customers and the terms and conditions for extending credit.

Incremental Cash Flow

The extra money a company gains by embarking on a project or investment.

Credit Policies

Guidelines a company follows to determine credit terms for customers, including who is eligible for credit and on what terms.