Complete Form 940, Employer's Federal Unemployment (FUTA) Tax Return, for Glo-Brite Company. a. Total wages for the first three quarters was $142,224.57. FUTA taxable wages for the first three quarters was $65,490.00. b. FUTA tax liability by quarter: 1st quarter-$204.53, 2nd quarter-$105.25, 3rd quarter-$83.16. The first FUTA deposit is now due. c. Journalize the entry to record the electronic deposit for the FUTA tax liability.

Diversified semiconductors sells perishable electronic components. some must be shipped and stored in reusable protective containers. customers pay a deposit for each container received. the deposit is equal to the container’s cost. they receive a refund when the container is returned. during 2018, deposits collected on containers shipped were $856,000. deposits are forfeited if containers are not returned within 18 months. containers held by customers at january 1, 2018, represented deposits of $587,000. in 2018, $811,000 was refunded and deposits forfeited were $41,000. required: 1. prepare the appropriate journal entries for the deposits received and returned during 2018. 2. determine the liability for refundable deposits to be reported on the december 31, 2018, balance sheet.