The following information about the payroll for the week ended December 26 was obtained from the...
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The following information about the payroll for the week ended December 26 was obtained from the records of Amherst Equipment Co.: Deductions: Salaries: Sales salaries $ 27.100 $294.000 135.000 Provincial taxes withheld Federal taxes withheld CPP withheld Warehouse salaries Office salaries 61.604 125.000 22.216 $504.000 El withheld 7.560 Canada Savings Bonds Group insurance 11.088 9,0721 $138.640 Instructions Amherst Equipment Co.'s employees are paid on the Friday of every week and work a five-day workweek, Journalize the following entries: 1. December 26, to record the payroll. 2. December 26, to record the employer's payroll expenses. 3. December 31, to accrue for pay to the company's year-end of December 31. (Assume the December 26 payroll amounts represent a typical payroll amount)) 4. December 31, to accrue for the employer's payroll expenses up to the year-end. 5. January 2, to record the payroll for the week, using the same munihers for the week ended December 26 6. January 2, to record the emplover's payroll detluction liability. 7. January 15, to remit source deductions for the payroll for December tassume four pays equal to the Decenther 26 pay). Carson Brothers pays itampilnyves wekly. Information for the week ended May 29, 2015, is given below The following information about the payroll for the week ended December 26 was obtained from the records of Amherst Equipment Co.: Deductions: Salaries: Sales salaries $ 27.100 $294.000 135.000 Provincial taxes withheld Federal taxes withheld CPP withheld Warehouse salaries Office salaries 61.604 125.000 22.216 $504.000 El withheld 7.560 Canada Savings Bonds Group insurance 11.088 9,0721 $138.640 Instructions Amherst Equipment Co.'s employees are paid on the Friday of every week and work a five-day workweek, Journalize the following entries: 1. December 26, to record the payroll. 2. December 26, to record the employer's payroll expenses. 3. December 31, to accrue for pay to the company's year-end of December 31. (Assume the December 26 payroll amounts represent a typical payroll amount)) 4. December 31, to accrue for the employer's payroll expenses up to the year-end. 5. January 2, to record the payroll for the week, using the same munihers for the week ended December 26 6. January 2, to record the emplover's payroll detluction liability. 7. January 15, to remit source deductions for the payroll for December tassume four pays equal to the Decenther 26 pay). Carson Brothers pays itampilnyves wekly. Information for the week ended May 29, 2015, is given below
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Assignment on the Journal Entries Amhest Equipment Cos employees are paid on the Friday of every wee... View the full answer
Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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