The following are extracts from the payroll of J. Sutcliffe Ltd for the week ending 24 January
Question:
The following are extracts from the payroll of J. Sutcliffe Ltd for the week ending 24 January 20X0.
There were no other deductions from the employees’ pay.
You are required to prepare journal entries to record the relevant items shown in the weekly payroll (including any cash payments).
Gross wages National Insurance contributions - Employees Employers PAYE tax £ 6,800 680 1,020 950
Step by Step Answer:
The journal entries are as follows i Cash payment of 6000 to employees bank accounts on 10 January ...View the full answer
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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