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Problem 1: The Wages and Salaries Expense account would be used to record
A) net earnings for the office workers.
B) a credit to the amount owed to the office workers.
C) gross earnings for the office workers.
D) a debit for the amount of net pay owed to the office workers.
Problem 2: The information needed to make the journal entries to record the wages and salaries expense comes from
A) form TD1-A.
B) the look-back period.
C) the payroll registers.
D) form PD7A.
Problem 3: Employment Insurance premiums are paid by
A) the employer.
B) the employee.
C) both the employer and employee.
Financial Statement Analysis and Preparation
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