User Account

All Pages

What is correct journal entry to record the salary expense

Assignment Help Accounting Basics
Reference no: EM132565646

Question - Sandra Singh works as the manager for the Shmenge Brothers music store. She earns $1,200 a week for a 40-hour week and time and a half for anything over 40 hours per week. During the first week of the year, Sandra worked 46 hours. The income tax withholdings are 20% of gross earnings. Canada Pension Plan deductions are 4.95% of gross earnings and Employment Insurance deductions are 1.88% of gross earnings. The worker's compensation premium is 1.6% of gross earnings. Ignore the basic Canada Pension Plan exemption. What is the correct journal entry to record the salary expense?

Reference no: EM132565646

Questions Cloud

What is its weighted average cost of capital : Assume that a not-for-profit company has $20 million of long-term tax-exempt debt with an interest rate of 6.0%. What is its weighted average cost of capital
How much lower will mhm profits be in a weak economy : MHM produces lawn chairs , it will only 150,000 chairs. How much lower will MHM's profits be in a weak economy compared to a strong economy?
Computer Crime Prosecution : What is considered legal or illegal under the guidelines of the First and Fourth Amendments in relation to the identity theft investigation
Stress Management-why your partner is relieved of duty : Consider what you are going to tell the other deputies when they ask why your partner is relieved of duty.
What is correct journal entry to record the salary expense : Sandra Singh works as the manager for the Shmenge Brothers music store. What is the correct journal entry to record the salary expense
Find what is npv of project and should lar telecom make : LAR Telecom plans to purchase , What is the NPV of the project and should LAR Telecom make the purchase? If not, please explain why.
Coping strategies-identify relationships partner : Identify the relationships the partner has in his personal life that may be related to the day care tornado call.
Find what must be investor expectation of the price of stock : Find what must be investors' expectation of the price of the stock at the end of the year, If the stock is perceived to be fairly priced today
Compute the total amount of dividends payable : During 2021, the total dividends declared amount to $10,000. Compute the total amount of dividends payable to each class of shares in 2021

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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