Question: Prepare the entry to recognize the payroll for the month of November 2022. Department of Agriculture's Payroll for the month of November 2022 is as

Department of Agriculture's Payroll for the month of November 2022 is as follows: Salaries and

Prepare the entry to recognize the payroll for the month of November 2022.

Department of Agriculture's Payroll for the month of November 2022 is as follows: Salaries and Wages-P5,350,000.00 PERA-100,000.00 Pagibig employee share-50,000.00 PhilHealth employee share-147,358.00 GSIS employee share-451,258.00 Collection of PAGIBIG Loan from employees-90,000.00 Tax withheld-685,000.00

Step by Step Solution

★★★★★

3.41 Rating (157 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Journal Entries are as follows Date November 30 2022 Debit Salaries and Wages Expense Ac P535000000 ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Prepare the entry to record income taxes on December 31, 2011, assuming that Jason Corporations income tax expense is $120,000 and that it owes $80,000 in income taxes to the government. Prepare the...

1. Sheffield Enterprises payroll for the month of March, 2020 is shown below. Salaries and Wages for the month of March 2020 $ 214,000 Income Taxes withheld from employees 47,372 EI withheld from...

Caribbean Tours total payroll for the month of January was $600,000. The following withholdings, fringe benefits, and payroll taxes apply: Federal and state income tax withheld ..................

Maddox Co. pays salaries monthly on the last day of the month. The following information is available from Maddox Co. for the month ended December 31, 2016. Administrative salaries .....$85,000 Sales...

Biotechs promotion department is responsible for designing and developing all marketing campaign materials and related literature, pamphlets, and brochures. Management is reviewing the effectiveness...

Rosa Soliz, owner of the new Spanish Caf, signed a building lease for 3 years for $1,000 per month on April 1, 20X4. She has paid $3,000 for the first 3 months rent covering April-June, 20X4....

Diamond Industries, Inc., began business on January 2, 2011. Salaries were paid to employees on the last day of each month, and social security tax, Medicare tax, and federal income tax were withheld...

Davis Consulting performs systems consulting. The company has also begun selling accounting software and uses the perpetual inventory system to account for software inventory. During January, Davis...

On July 1, Lula Plume created a new self-storage business, Safe Storage Co. The following transactions occurred during the companys first month.July 2 Plume invested $30,000 cash and buildings worth...

On July 1, Lula Plume created a new self-storage business, Safe Storage Co. The following transactions occurred during the companys first month. Required 1. Use the balance column format to set up...

The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2007. Specifically, the audit firm is now focusing on the audit of revenue from this seasons home...

A mass m is connected to two springs, with spring stiffness constants k1 and k2, as shown in Fig. 11-51. Ignore friction. Show that the period is give by

Question 1 Hyt answered Points out of 1 0 0 0 Flag question A uniform series has annual payments of $ 3 , 4 0 0 for 8 years; however, it is missing one payment in year 5 ( i . e . , equal payments in...

Colgate-Palmolive operates two product segments. Using the company Web site, locate segment information for the companys latest published annual report. (Hint: Go to the company Web site and look...

Kerr Cosmetics distributes cosmetic products to large retailers across the country. The firm was started in 1975 by its first president, Stephen Kerr, who still serves as chairman of the board. Over...

On July 31, 2019, the balance in Bay City Kitchen Appliance's checkbook and Cash account was $8,318.59. The balance shown on the bank statement on the same date was $9,442.03. Notes a. The following...

The transactions that follow took place under the perpetual inventory system. Record each transaction using T accounts. a. Purchased merchandise on credit, terms n/30, FOB shipping point, $5,000. b....

Teague Company engaged in the following transactions in October 2014: Oct. 7 Sold merchandise on credit to Mel Forde, terms n/30, FOB shipping point, $12,000 (cost, $7,200). 8 Purchased merchandise...

The journal entry to record the issuance of a note includes a debit to Cash and a credit to Notes Payable. Group starts True or False

Deposit Rules for Glo-Brite Paint Company The FICA taxes and FIT taxes must be deposited on or before the 15th of the month following the month in w Federal taxes were withheld. Since Glo-Brite is a...

Start of Payroll Project 7-3a October 9, 20-- No. 1 The first payroll in October covered the two workweeks that ended on September 26 and October 3. This payroll transaction has been entered for you...

This is the 2020 edition DECEMBER 4 PAYROLL: (As you complete your work, answer the following questions for the December 3 and December 4 payroll.) What is the amount of the debit to Employees SIT...

Could you complete the table base on the information provided below? JOURNAL Page 41 FOST DATE DESCRIPTION REF DEBIT CREDIT 20. 9 Payroll Cash 12 12,436.46 Cast 11 12,436.46 9 Administrative Salaries...

October 9, 20- The first payroll in October covered the two workweeks that ended or September 26 and October 3. This payroll transaction has been entered for you in the payroll register, the...