Prepare a payroll for the month of April 2021 of a Manufacturing Corporation with 15 rank and file staff and 5 Managerial personnel. Come up with their respective Monthly Salary and pay-out is done twice a month. There are 26 working days in the month of April 2021. There is an option that certain rank in file employees are paid based on the Daily Wage prescribed by the National Wage Commission. The Corporation is situated in Pampanga.

Case A The payroll will result to remittances to BIR, SSS, Philhealth and HDMF next month. Prepare the payroll and the corresponding accounting entries regarding the pay-out and the remittances to the above-mentioned government agencies.

Case B The payroll will result to no remittance to be done to BIR but with remittances to SSS, Philhealth and HDMF. Prepare the payroll and the corresponding accounting entries regarding the pay-out and the remittances to SSS, Philhealth and HDMF.

Answer rating: 100% (QA)

CASE A 1 The payroll and corresponding accounting entries for the payout and remittances to government agencies would be as follows BIR Rank and file ... View the full answer