In providing accounting services to small businesses, you encounter the following situations. Bramble Corporation rings up cash sales and sales taxes separately on its cash register. On April 10, the register totals are pre-tax sales of sales $4,800 plus GST of $240 and PST of $384. 1. 2. (i) During the month of March, Grouper Corporation's employees earned gross salaries of $60,000. Withholdings deducted from employee earnings related to these salaries were $3,254 for CPP. $948 for El, $7,510 for income taxes. (ii) Grouper's employer portions were $3,254 for CPP and $1.327 for El for the month. Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) No. Account Titles Debit Credit

In providing accounting services to small businesses, you encounter the following situations. Bramble Corporation rings up cash sales and sales taxes separately on its cash register. On April 10, the register totals are pre-tax sales of sales $4,800 plus GST of $240 and PST of $384. 1. 2. (i) During the month of March, Grouper Corporation's employees earned gross salaries of $60,000. Withholdings deducted from employee earnings related to these salaries were $3,254 for CPP. $948 for El, $7,510 for income taxes. (ii) Grouper's employer portions were $3,254 for CPP and $1.327 for El for the month. Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) No. Account Titles Debit Credit

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter8: Employer Taxes, Payments, And Reports

Section: Chapter Questions

Problem 2E

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