Solution-Prepare the journal entries to record the

Prepare the journal entries to record the transactions

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Reference no: EM133067353

Question - In providing accounting services to small businesses, you encounter the following situations.

1. Grainger Corporation rings up cash sales and sales taxes separately on its cash register. On April 10, the register totals are pre-tax sales of sales $5,100 plus GST of $300 and PST of $500.

2. Darby Corporation receives its annual property tax bill in the amount of $10,500 on May 31.

3. (i) During the month of March, Neufeld Corporation's employees earned gross salaries of $59,700. Withholdings deducted from employee earnings related to these salaries were $3,070 for CPP, $964 for EI, $7,120 for income taxes, and $360 for union dues. (ii) Neufeld's payroll costs for the week were $3,070 for CPP and $1,350 for EI.

Required - Prepare the journal entries to record the above transactions.

Reference no: EM133067353

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Prepare the journal entries to record the transactions

Reference no: EM133067353

Reference no: EM133067353

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