You are the PayToll Manager for ABC Oil. Your company uses the EFT transfer to pay...

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You are the PayToll Manager for ABC Oil. Your company uses the EFT transfer to pay their employees. Employees are paid using ETF to their bank accounts. Payroll Register For the Month Ending October 31, 2020 Earnings Allowances Deductions Hr. Employee Hrs. Housing Allow. Qatar National Social Name Nationality Rate/ Overtime Gross Social Net Salary Worked Regular & Other Pay Allow. Pension Club Pay Khaled Al Qatar 40.00 160 6,400.00 24,000.00 30,400.00 125 30,620.00 700 355.00 Tom Thomas Ireland 45.00 167 7,200.00 472.50 7,672.50 125 7,547.50 Peter Jones Spain 35,00 166 5,600.00 315.00 5,915.00 7,900 125 13,690.00 Susan Smith Canada 160 2,600.00 2,600 2,600.00 125 2,475.00 Saud Al Kuwari Qatar 4,500 165 4,500.00 210.94 4,710.94 700 260.00 125 5,025.94 Fatima Ali Qatar 6,080 165 6,080.00 285.00 6,365.00 700 339.00 125 6,601.00 Totals 32,380.00 25,283.44 57,663 44 2.100 00 7.900.00 954 00 750.00 65,959.44 Required: payl a) Prepare the Journal entry to record the October 31, 2020 payroll b) Prepare the Journal entry to record any expenses liabilities that the employer may incur because of the payroll. c) Prepare the Journal entry to transfer the adequate funds from the cash account to a special payrol checking account on October 31, 2020 d) Prepare the Journal entry to record payment to the Qatar govemment amount due for QNPP on October 31, 2020 You are the PayToll Manager for ABC Oil. Your company uses the EFT transfer to pay their employees. Employees are paid using ETF to their bank accounts. Payroll Register For the Month Ending October 31, 2020 Earnings Allowances Deductions Hr. Employee Hrs. Housing Allow. Qatar National Social Name Nationality Rate/ Overtime Gross Social Net Salary Worked Regular & Other Pay Allow. Pension Club Pay Khaled Al Qatar 40.00 160 6,400.00 24,000.00 30,400.00 125 30,620.00 700 355.00 Tom Thomas Ireland 45.00 167 7,200.00 472.50 7,672.50 125 7,547.50 Peter Jones Spain 35,00 166 5,600.00 315.00 5,915.00 7,900 125 13,690.00 Susan Smith Canada 160 2,600.00 2,600 2,600.00 125 2,475.00 Saud Al Kuwari Qatar 4,500 165 4,500.00 210.94 4,710.94 700 260.00 125 5,025.94 Fatima Ali Qatar 6,080 165 6,080.00 285.00 6,365.00 700 339.00 125 6,601.00 Totals 32,380.00 25,283.44 57,663 44 2.100 00 7.900.00 954 00 750.00 65,959.44 Required: payl a) Prepare the Journal entry to record the October 31, 2020 payroll b) Prepare the Journal entry to record any expenses liabilities that the employer may incur because of the payroll. c) Prepare the Journal entry to transfer the adequate funds from the cash account to a special payrol checking account on October 31, 2020 d) Prepare the Journal entry to record payment to the Qatar govemment amount due for QNPP on October 31, 2020

Answer rating: 100% (QA)

Payroll Dr Amt Cr Amt 311020 Gross Wages Ac 5766344 Dr Social Allowances ... View the full answer