1. Please write a four-to-six sentence paragraph on the following questions.
a. Describe the three federal filing requirements for a company at the end of the year.
b. What is the difference between Form 940 and Form 941?
2. Betty Meyer makes $40,000 per year as an exempt employee. She worked 25 hours of overtime in the month of March. Payday for wages earned in the month of March is April 7. Ignoring Federal and State income tax withholdings, how much would she receive for September net of Social Security and Medicare taxes? What journal entry would be made on March 31 for wages owed to Betty? What journal entry would be made when she is paid on April 7?