How to do a factory reset on an iPhone 4s?

I have an iPhone 4s that has a passcode on it. I do not know the passcode because I found the phone. I'm wanting to know how to do a factory/hard reset on the phone. If you can help, please do!

Hold the home button while the phone is OFF. Plug into iTunes on the computer and it'll ask if you want to restore.click yes and it will wipe out phone.

Haha I Found a IPod touch 4G with a passcode Heres what i did

1. Plug the Phone into ITunes Leave the Phone On

2. Hold the Sleep/Wake & Home button for 10 seconds

3. After 10 seconds Let go of the Sleep/Wake button but Keep holding the Home Button for another 10 seconds

4. After 5-10 seconds "iTunes should say ITunes Has Found IPhone 4S in Recovery mode It must be restored" or Something like that

5. Click Restore AND IT Should Restore the Phone.

Try to find the original owner instead.