User Account

All Pages

What amount must be posted to Salaries

Assignment Help Accounting Basics
Reference no: EM133027639

Question - The journal entry for your recent payroll run has the following entries in it: Salaries and wages expense $98,000.00 debit, CPP contributions payable $4,693.00 credit, EI premiums payable $2,210.00 credit, income tax payable $37,580.00 credit and union dues payable $875.00 credit. What amount must be posted to Salaries and wages payable in order to make this a balanced entry?

Reference no: EM133027639

Questions Cloud

What is the ratio of the book value of debt : A firm has a debt-to-equity ratio of 0.60 and a market-to book ratio of 4.0. What is the ratio of the book value of debt to the market value of equity
Outcomes of self-assessments : -In what ways did the outcomes of your self-assessments taken during this class, play a part in the negotiations? Management vs Union.
Unethical practices from government agencies : Site 5 unethical practices from government agencies/officials or private companies in the Philippines. Explain each situation/practices and why it is considered
Types of professional development and management training : Succession plans are usually only created for the top leadership team of the company and not for the management teams. However, having a succession plan in plac
What amount must be posted to Salaries : The journal entry for your recent payroll run has the entries in it: Salaries and wages expense $98,000.00 debit, What amount must be posted to Salaries
What is the importance of flexible business models : What is the importance of flexible business models, especially in markets with rapidly evolving technologies?
What are the four core elements of coaching : What is coaching and what are the four core elements of coaching?
Prepare the journal entry to dispose of the amount : Assume that the amount is signi?cant to the company and expected to be closed out as accurately as possible. Prepare the journal entry to dispose of the amount
Treating disease to preventing disease with wellness : Why do you feel that there is a shift from treating disease to preventing disease with wellness? Is there an aspect of your lifestyle that you could change to m

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the total cost of the time

Calculate the total cost of the time the customer relations department spent on each product - mortgage, loan and credit card - for the last financial year

  Variance analysis problem

Variance Analysis Problem

  What amount of revenue is recognized on the contract

What amount of revenue is recognized on the contract in 20x1?On July 1, 20x1, Contractor Co. enters into a contract with a customer for the construction

  Calculate the December ending balance of retained earnings

The average income tax rate of 40% applies to all items except the dividends. Calculate the December ending balance of retained earnings

  Determine external capital required

All assets are proportional to sales. Accounts Payable is the only spontaneous liability. Determine external capital required

  What do think about elia diligence

Most accountant's complete performance evaluations, What do you think about Elia's diligence and her understatement of the time she took

  Calculate profit prior to incorporation

The average monthly turnover from July 2005 onwards was double than that of the previous months. Calculate profit prior to incorporation

  Determine balance of unearned warranty revenue at december

Bob starts selling extended warranty for "type S" on July 1, Determine the balance of unearned warranty revenue at December 31, Year 8.

  Prepare a multi-step income statement

Prepare a multi-step income statement and a classified balance sheet in proper form using accrual accounting and all balances are as of the end of the year except Retained Earnings.

  What is the division residual income

Esh Wares is a division of a major corporation. The following data are for the latest year of operations. What is the division's residual income

  Target contribution margin-amount of actual sales

Contribution margin to sales ratio is 84% for the ABC Co. and the breakeven point in sales is Rs. 150,000. The company desires a target net income of Rs. 42,000.

  Evaluate a cash receipts journal

Pebblebrook Supply uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal.

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