Find and prepare the journal entries to record the payroll

Assignment Help Financial Accounting

Reference no: EM132753121

Harold Munster earned $2,400 in wages and $650 in sales commissions for the month of November. Harold's payroll deductions include income tax of 15 percent, Canada Pension of 4.95 percent on earnings and Employment Insurance of 1.83 percent on earnings.

Problem 1: Prepare the journal entries to record the payroll and the payroll taxes imposed on Harold Munster.

Reference no: EM132753121

Questions Cloud

Continuous monitoring of information systems security : Discuss the major challenges in continuous monitoring of information systems security.

Find what is the company new break-even point in unit sales : Find What is the company's new break-even point in unit sales and in dollar sales? What dollar sales is required to attain a target profit of $102,600?

What is the npv of a project : Green Landscaping, Inc. is using net present value (NPV) when evaluating projects. Green Landscaping's cost of capital is 14.81 percent.

About the primary dimensions of diversity : Now that you have read about the primary dimensions of diversity, what have you learned about yourself?

Find and prepare the journal entries to record the payroll : Harold's payroll deductions include income tax. Prepare the journal entries to record the payroll and the payroll taxes imposed on Harold Munster.

How much is the joint operation cash to be shown : Assume that the Joint Operation is liquidated and Z is charged the unsold inventory at cost, how much is the Joint Operation Cash to be shown in the books of Y

What is the amount of income tax liability : Report taxable income in all future years. There are no deferred taxes at the beginning of 2020. What is the amount of income tax liability for 2020?

Should the company replace the old machine now : Aussie Boilers Pty Ltd is a major supplier of boilers for mining companies in the north of Western Australia. It is considering to replace an old welding.

Population and geographic composition : You will research the population and geographic composition in the (Kansas Community) you have been focusing on in previous assignments

User Account

All Pages