Question

If the above entries are not recorded on November 30, 2017, what is the effect on income statement and the balance sheet? (Enter all values as positive values and round the final answer to two decimal places.)

Designer Architects had the following additional information at its November 30, 2017, year-end: a. The unearned Revenue account showed a balance of S80,000, which represented four r b. The payroll register showed the following unpaid amounts as at November 30 ths of services pad n advance by a dent for services begrring on Oct ber 15 2017 Not CPPDeductions Payable SalariesSalaries Total Sales Income Taxes 1,470 00 Office 260 41 63 98 2,094 39 5,805 61 4,300 003,800 00 These values are based on assumed payroll deductions. "The employer's portions of El and CPP are 1.4 times and 1 times the employees portion respectively с. The November utility bill in the amount of S3,960.00 was unpaid and unrecorded at November 30. quired: Prepare the appropriate entries at year-end based on the above information: (Round the final answers to 2 decimal places.)

Answer 1

a	Unearned revenue	30000	(80000*1.5/4)
	Service revenue		30000
b	Office salaries expense	4300
	Sales salaries expense	3600
	Income tax payable		1470
	EI premium payable		260.41
	CPP payable		363.98
	Salaries payable		5805.61
c	Payroll expense	728.554
	EI premium payable		364.574	(260.41*1.4)
	CPP payable		363.98
d	Utilities expense	3960
	Accounts payable		3960