User Account

All Pages

Prepare the entry to record the payment of payroll

Assignment Help Accounting Basics
Reference no: EM132861970

Question - C & D Company has numerous employees who are paid on a semi-monthly basis. Payroll information for August of the current year is given below.

Employee compensation $185,000

Employee CPP contributions 5,820

Employee EI contributions 3,836

Employee income tax withheld 45,250

Required -

(1) Prepare the journal entry to record the August payroll; and,

(2) Prepare the payroll benefits expense entry for C & D Company for August; Also,

(3) Prepare the entry to record the payment of payroll withholdings to Reviver General of Canada on September 15. Explanations are not required.

Reference no: EM132861970

Questions Cloud

Examining the laffer curve and a historical perspective : Tax Cuts Research Assignment, Examining the Laffer Curve and a historical perspective on the balance of tax burdens and revenue generation.
Developing new revenue streams for a company : Analyse two advantages of developing new revenue streams for a company.
What is the risk and return trade-off : Question - What is the risk and return trade-off? How important is volatility in terms of investment? Is it good or is it bad
Explain the advantages of strategy formulation process : Explain the advantages (to a firm) of a strategy formulation process that is structured and systematic but also flexible.
Prepare the entry to record the payment of payroll : Prepare the entry to record the payment of payroll withholdings to Reviver General of Canada on September 15. Explanations are not required
Define organizational learning : Define organizational learning within the context of crisis management.
How much overhead costs were applied : How much overhead costs were applied to the Work-in-Process Inventory during April using activity-based costing
Discuss the differences in effective communication methods : Discuss the differences in effective communication methods, if any, between communicating project-related
Explain the relationship between the purchase order : 1. What would your policy be on the quality of well brands and the variety of brands offered? Give reasons for your decisions.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the adjusted basis of the building

Amy purchased an office building for his business several years ago at 580,000, What is the adjusted basis of the building

  Prepare journal entries to record depreciation of machine

Onslow Co. purchases a used machine for $240,000 cash on January 2 and readies it for use the next day at an $8,000 cost. On January 3, it is installed on a required operating platform costing $1,600, and it is further readied for operations.

  Interpreting managerial reports

C4. BUSINeSS applICatIoN ?For the past four years, three companies have dominated the soft drink industry, holding a combined 85 percent of market share. Won Cola, Inc., ranks second nationally in soft drink sales. Its management is thinking abou..

  In january 2009 solaris co pays 2650000 for a tract of land

in january 2009 solaris co. pays 2650000 for a tract of land with two buildings on it. it plans to demolish building 1

  Calculate the weighted average unit contribution margin

Total annual fixed costs are $5,000,000. Assume the sales mix remains the same at all levels of sales. Calculate the weighted average unit contribution margin

  Compute for the balances of total gross sales accounts

Compute for the balances of total gross sales accounts on December 31, 2X20. Purchase returns (P30,000 was refunded) 80,000

  Data of company manufacturing overhead account

Hults Corporation has provided data regarding the company's Manufacturing Overhead account for month of November.

  Prepare a balance sheet for owens and turner angler

Prepare a balance sheet for Owens and Turner Angler's Outpost just after the investments. Analyze: By what net amount were the net assets of Owens

  How many hours of overtime has mary earned

Monday, called in sick for 7 hours on Tuesday, and worked on a special project for 3 1/2 hours on Saturday. How many hours of overtime has Mary earned?

  How the given method affect the decision

These costs are all important for analysis. Does this method of using relevant cots have a disadvantage? If so, what type? How they the affect the decision?

  The federal granting agency establishes

The federal granting agency establishes

  Problem related to credit period

Merchandise is ordered on June 13; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by the seller on June 16; the merchandise is received by the buyer on June 18; the entry is made in the buyer's accounts on ..

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