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B. Small Company's 16 sales personnel earned total salaries of $18,000 during the period April 5-10,...
QUESTIONS (16 marks) 4. A company's 18 sales personnel carned salaries of $22.000 during the period...
QUESTIONS (16 marks) 4. A company's 18 sales personnel carned salaries of $22.000 during the period March 5-10, all of which were subject to 4.959 CPP and 1.669 EL. All personnel are entitled to 2 weeks paid annual vacation. In addition, the company has agreed with its employees to withhold the following amounts: $900 for hospital insurance, $4.400 for federal and provincial income taxes, and $180 for union dues. Prepare the March 10 general journal entry to record the payroll...
QUESTION 4 (10 marks) On April 1. 2015, Thanderbird Co sold a piece of equipment that...
QUESTION 4 (10 marks) On April 1. 2015, Thanderbird Co sold a piece of equipment that had cost $35,000 on January 1, 2011. The equipment had a residual value of $5,000, a useful life 10 years, and double-declining- balance depreciation at twice the straight-line rate was used. On December 31, 2014 accumulated depreciation was $20,664. The asset was sold for $14,200. Prepare the journal entry to record depreciation up to the date of disposal of the equipment, and the journal...
QUESTION 5 (16 marks) A. A company's 18 sales personnel earned salaries of $22,000 during the...
QUESTION 5 (16 marks) A. A company's 18 sales personnel earned salaries of $22,000 during the period March 5-10, all of which were subject to 4.95% CPP and 1.66% EI. All personnel are entitled to 2 weeks' paid annual vacation. In addition, the company has agreed with its employees to withhold the following amounts: $900 for hospital insurance, $4,400 for federal and provincial income taxes, and $180 for union dues. Prepare the March 10 general journal entry to record the...
1. Sheffield Enterprises’ payroll for the month of March, 2020 is shown below. Salaries and Wages...
1. Sheffield Enterprises’ payroll for the month of March, 2020 is shown below. Salaries and Wages for the month of March 2020 $ 214,000 Income Taxes withheld from employees 47,372 EI withheld from employees 1.66% CPP withheld from employees 4.95% Union dues withheld from employees 20,914 Prepare the journal entries for the employee and employer portion related to payroll costs. Also, prepare the journal entries to record the remittance of the March payroll deductions to the Receiver General for Canada...
The general ledger of Fast Ship at June 30, 2016, the end of the company's fiscal...
The general ledger of Fast Ship at June 30, 2016, the end of the company's fiscal year, includes the following account balances before payroll and adjusting entries. BE (Click the icon to view the account balances.) The additional data needed to develop the payroll and adjusting entries at June 30 are as follows: í (Click the icon to view the additional information.) Click the icon to view payroll tax rate information) Requirements 1. Using the T-accounts opened for you, insert...
i think it's ok. i needed to understand which i did. thank you anyway. P9-3A Mazlin...
i
think it's ok. i needed to understand which i did. thank you
anyway.
P9-3A Mazlin Limited purchased a machine on account on April 2, 2018, at an invoice price of $360,000. On April 4, it paid $2,000 for delivery of the machine. A one-year, $4,000 insurance policy on the machine was purchased on April 5. On April 18, Mazlin paid $8,000 for installation and testing of the machine. The machine was ready for use on April 30. Mazlin estimates...
QuesLIUI Wascana Ltd. is a small wholesaler of restaurant supplies. The company's post-closing trial balance at...
QuesLIUI Wascana Ltd. is a small wholesaler of restaurant supplies. The company's post-closing trial balance at December 31, 2017, the end of its fiscal year, is presented Credit 26,250 WASCANA LTD. Post-Closing Trial Balance December 31, 2017 Debit Cash $82,000 Accounts receivable 525,000 Allowance for doubtful accounts Inventory 345,000 Equipment 1,800,000 Accumulated depreciation-equipment Accounts payable Interest payable Employee income tax payable CPP payable EI payable Provisions Unearned revenue Bank loan payable Common shares Retained earnings $2,752,000 480,000 316,000 3,000 56,000...
prehensive Problem 3 Comprehensi 5. Total assets, $3,569,300 GENERAL LEDGER Selected transactions completed by December 31,...
prehensive Problem 3 Comprehensi 5. Total assets, $3,569,300 GENERAL LEDGER Selected transactions completed by December 31, 2014, were as follows: ns completed by Kornett Company during its first fiscal year ended December 31, 2014 Jan. 3. Issued a check to establish a petty cash fund of $4,500. Feb. 26. Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $1,680; miscellaneous selling expense, $570; misc neous administrative expense, $880. Apr. 14. Purchased $31,300 of...
QUESTIONS (16 marks) 4. A company's 18 sales personnel carned salaries of $22.000 during the period March 5-10, all of which were subject to 4.959 CPP and 1.669 EL. All personnel are entitled to 2 weeks paid annual vacation. In addition, the company has agreed with its employees to withhold the following amounts: $900 for hospital insurance, $4.400 for federal and provincial income taxes, and $180 for union dues. Prepare the March 10 general journal entry to record the payroll...
QUESTION 4 (10 marks) On April 1. 2015, Thanderbird Co sold a piece of equipment that had cost $35,000 on January 1, 2011. The equipment had a residual value of $5,000, a useful life 10 years, and double-declining- balance depreciation at twice the straight-line rate was used. On December 31, 2014 accumulated depreciation was $20,664. The asset was sold for $14,200. Prepare the journal entry to record depreciation up to the date of disposal of the equipment, and the journal...
QUESTION 5 (16 marks) A. A company's 18 sales personnel earned salaries of $22,000 during the period March 5-10, all of which were subject to 4.95% CPP and 1.66% EI. All personnel are entitled to 2 weeks' paid annual vacation. In addition, the company has agreed with its employees to withhold the following amounts: $900 for hospital insurance, $4,400 for federal and provincial income taxes, and $180 for union dues. Prepare the March 10 general journal entry to record the...
The general ledger of Fast Ship at June 30, 2016, the end of the company's fiscal year, includes the following account balances before payroll and adjusting entries. BE (Click the icon to view the account balances.) The additional data needed to develop the payroll and adjusting entries at June 30 are as follows: í (Click the icon to view the additional information.) Click the icon to view payroll tax rate information) Requirements 1. Using the T-accounts opened for you, insert...
i
think it's ok. i needed to understand which i did. thank you
anyway.
P9-3A Mazlin Limited purchased a machine on account on April 2, 2018, at an invoice price of $360,000. On April 4, it paid $2,000 for delivery of the machine. A one-year, $4,000 insurance policy on the machine was purchased on April 5. On April 18, Mazlin paid $8,000 for installation and testing of the machine. The machine was ready for use on April 30. Mazlin estimates...
QuesLIUI Wascana Ltd. is a small wholesaler of restaurant supplies. The company's post-closing trial balance at December 31, 2017, the end of its fiscal year, is presented Credit 26,250 WASCANA LTD. Post-Closing Trial Balance December 31, 2017 Debit Cash $82,000 Accounts receivable 525,000 Allowance for doubtful accounts Inventory 345,000 Equipment 1,800,000 Accumulated depreciation-equipment Accounts payable Interest payable Employee income tax payable CPP payable EI payable Provisions Unearned revenue Bank loan payable Common shares Retained earnings $2,752,000 480,000 316,000 3,000 56,000...
prehensive Problem 3 Comprehensi 5. Total assets, $3,569,300 GENERAL LEDGER Selected transactions completed by December 31, 2014, were as follows: ns completed by Kornett Company during its first fiscal year ended December 31, 2014 Jan. 3. Issued a check to establish a petty cash fund of $4,500. Feb. 26. Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $1,680; miscellaneous selling expense, $570; misc neous administrative expense, $880. Apr. 14. Purchased $31,300 of...
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