Problem 11.6A Computing and recording workers' compensation Insurance premiums. LO 11-8 The following information relates to Ponte Manufacturing Company's workers' compensation insurance premiums for 2019. On January 15, 2019, the company estimated Its premium for workers' compensation insurance for the year on the basis of that data. Work classification office work Shop work Amount of Estimated Insurance Wages Rates $ 47,000 $0.50/$100 291,000 $4.00/$100 Required: 1. Compute the estimated premiums. 2. Record in general Journal form payment of the estimated premium on January 15, 2019. 3. On January 4, 2020, an audit of the firm's payroll records showed that it had actually paid wages of $52.960 to its office employees and wages of $298,320 to its shop employees. Compute the actual premium for the year and the balance due the Insurance company or the credit due the firm. 4. Prepare the general journal entry on December 31, 2019, to adjust the Workers' Compensation Insurance Expense account Analyze: If all wages were attributable to shop employees, what premium estimate would have been calculated and recorded on January 15 2019? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Analyze Compute the estimated premiums. (Round "Insurance Rate" answers to 3 decimal places, L., 12.3 should be entered as 0.123) Work Estimated Insurance Estimated Classification Earnings Rate Premiums Office work Shop work Total Required Required 2 > Required: 1. Compute the estimated premiums. 2. Record in general journal form payment of the estimated premium on January 15, 2019. 3. On January 4, 2020, an audit of the firm's payroll records showed that it had actually paid wages of $52.960 to its office employees and wages of $298.320 to its shop employees. Compute the actual premium for the year and the balance due the insurance company or the credit due the firm. 4. Prepare the general journal entry on December 31, 2019, to adjust the Workers' Compensation Insurance Expense account eBook Analyze: If all wages were attributable to shop employees, what premium estimate would have been calculated and recorded on January 15, 2019? Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Required 3 Required 4 Analyze Record in general Journal form payment of the estimated premium on January 15, 2019. (Round your answers to 2 decimal places View transaction list Journal entry worksheet Record payment of estimated workers compensation for the year. Note: Enter debits before credits. General Journal Jan 15, 2019 Debt Credit TA View general journal Clear entry Record entry The following information relates to Ponte Manufacturing Company's workers' compensation insurance premiums for 2019. On January 15, 2019, the company estimated its premium for workers' compensation insurance for the year on the basis of that data Mount of work Estimated Insurance classification Wages Rates office work $ 47,000 $0.50/$100 Shop work 291,000 $4.00/$100 Required: 1. Compute the estimated premiums. 2. Record in general Journal form payment of the estimated premium on January 15, 2019 3. On January 4, 2020, an audit of the firm's payroll records showed that it had actually paid wages of $52,960 to its office employees and wages of $298,320 to its shop employees. Compute the actual premium for the year and the balance due the insurance company or the credit due the firm. 4. Prepare the general journal entry on December 31, 2019, to adjust the Workers' Compensation Insurance Expense account Analyze: If all wages were attributable top 2019? employees, what premium estimate would have been calculated and recorded on January 15 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Analyze On January 4, 2020, an audit of the firm's payroll records showed that it had actually paid wages of $52,960 to its office employees and wages of $298,320 to its shop employees. Compute the actual premium for the year and the balance due the insurance company or the credit due the firm. (Round "Insurance Rate" answers to 3 decimal places. Le., 12.3% should be entered as 0.123) Actual Earnings Insurance Rate Premiums Classification Office work Shop work Total Estimated premiums paid Additional premium due Required 4 Required 2 Required: 1. Compute the estimated premiums. 2. Record in general Journal form payment of the estimated premium on January 15, 2019 3. On January 4, 2020, an audit of the firm's payroll records showed that it had actually paid wages of $52,960 to its office employees and wages of $298,320 to its shop employees. Compute the actual premium for the year and the balance due the Insurance company or the credit due the firm. 4. Prepare the general journal entry on December 31, 2019, to adjust the Workers' Compensation Insurance Expense account Analyze: If all wages were attributable to shop employees, what premium estimate would have been calculated and recorded on January 15, 2019? Complete this question by entering your answers in the tabs below. eferences Required 1 Required 2 Required 3 Required 4 Analyze Prepare the general journal entry on December 31, 2019, to adjust the Workers' Compensation Insurance Expense account. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the balance due to the insurance company or the credit due the firm. Debit Credit Note: Enter debits before credits. Date General Journal Dec 31, 2019 View general journal clear entry Record entry Problem 11.6A Computing and recording workers' compensation insurance premiums. LO 11-8 The following information relates to Ponte Manufacturing Company's workers' compensation insurance premiums for 2019. On January 15, 2019, the company estimated its premium for workers' compensation insurance for the year on the basis of that data Work Classification office work Shop work Amount of Estimated Insurance Wages Rates $ 47,000 $0.50/$100 291,000 $4.00/$100 ences Required: 1. Compute the estimated premiums. 2. Record in general Journal form payment of the estimated premium on January 15, 2019 3. On January 4, 2020, an audit of the firm's payroll records Syowed that it had actually paid wages of $52,960 to its office employees and wages of $298,320 to its shop employees Compute the actual premium for the year and the balance due the insurance company or the credit due the firm. 4. Prepare the general journal entry on December 31, 2019, to adjust the Workers' Compensation Insurance Expense account Analyze: If all wages were attributable to shop employees, what premium estimate would have been calculated and recorded on January 15, 2019? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Analyze If all wages were attributable to shop employees, what premium estimate would have been calculated and recorded on January 15, 20197 Premium estimate