User Account

All Pages

Compute the take-home salaries of the employees

Assignment Help Accounting Basics
Reference no: EM133101293

Question - Short-term employee benefits - Daybreak Co.'s payroll for the period is as follows:

Basic salaries 460,000

Cost of living allowances (COLA) 20,000

SSS contribution (employee's share) 11,626

SSS contribution (employer's share) 24,173

PhilHealth contribution (employee's share) 6,000

PhilHealth contribution (employer's share) 6,000

Pag-IBIG (employee's share) 2,000

Pag-IBIG (employer's share) 2,000

Withholding taxes on salaries 9,112

Required -

a. Compute the salaries expense.

b. Compute the "take-home" salaries of the employees.

c. Provide the journal entry.

Reference no: EM133101293

Questions Cloud

What is the name of the earthquake hazard : What is the name of the geologic process that takes place along the plate boundary running through the Atlantic basin
Prepare a tabular analysis of the august transactions : Purchased additional equipment for $2,100, paying $300 in cash and the balance on account. Prepare a tabular analysis of the August transactions
Major disruptions and technological tipping points : In your opinion, what makes it difficult for business organizations to respond to major disruptions and technological tipping points? Please mention specific ti
Organization treatment of employees and clients : Explain how both the vision and mission statements of an organization can or should guide an organization's treatment of its employees and clients
Compute the take-home salaries of the employees : Short-term employee benefits - Daybreak Co.'s payroll for the period is as follows: Basic salaries 460,000. Compute the take-home salaries of the employees
People passing off opinion as facts in the workplace : What are two examples where you have experienced people passing off opinion as facts in the workplace?
Meet the acquisition need : What should a contracting professional do if market research reveal that no commercial items are available to meet the acquisition need?
Possible drawbacks to using gps in application : Based on your experience with GPS and our class discussion, choose an application on a farm where GPS could be a benefit.
What is justice-based theory of ethics : What is justice-based theory of ethics?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the time value of this call option

Six months ago, you sold an American call option for $3. The option is about to expire. What is the time value of this call option

  The company has separate insurance policies

A review of the ledger of Carmel Company at December 31, 2014, produces the following data pertaining to the preparation of annual adjusting entries.

  What was the balance in salaries payable

This is a partial adjusted trial balance of Darcy Designs Pty Ltd. If $7,350 of salaries was paid in July, what was the balance in salaries payable at June

  Find how much will credit to capital

How much will you credit to Capital? Describe your next steps as the accountant For Rover's Sake once you have calculated the amount to credit to Capital.

  Discuss the major financial statements in detail

Discuss the major financial statements in detail. What formats are used? What significant trends (over three years) can you find

  Calculation of the non-controlling interest for the effects

Choose a public company financial statement - 10k or annual report. Review the footnote disclosures related to intercompany activity. How important is this activity to the consolidated group? Where do you find this information? Be sure and post a ..

  How can management practices speed collection of receivables

How can management practices speed the collection of receivables? Which management practices tend to slow the collection of receivables?

  Indicate whether each factors would most likely increase

Based only on the information, indicate whether each of the following factors would most likely (A) increase, (B) decrease, or (C) have no effect on audit risk

  Calculate the after-tax cost of preferred stock for

calculate the after-tax cost of preferred stock for bozeman-western airlines inc. which is planning to sell 10 million

  Which of the following is not an significant factor to

which of the following is not an important factor to consider when preparing a sales forecast?a. the state of the

  Determine the dividends per share for preferred

Determine the dividends per share for preferred and common stock for each year.

  Prepare the journal entry for cramer

Cramer Corp. sells idle machinery to Enyart Company on July 1, 2014, for $40,000. Prepare the journal entry for Cramer for the transfer of the asset to Enyart

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd