![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Please do not give image formaT
![2. Prepare a General Journal entry to record the payroll. Assume all employees work in the office. (Round the final answers to 2
decimal places.)
View transaction list
Journal entry worksheet
Record the entry for payroll.
Note: Enter debits before credits.
Date
March 09
General Journal
Debit
Credit](https://content.bartleby.com/qna-images/question/4f532a2d-41c4-4378-bc40-36a341559f3a/0ed89fd6-0c5d-454f-9423-df8d6c95194e/cth56oj_thumbnail.jpeg)
Transcribed Image Text:2. Prepare a General Journal entry to record the payroll. Assume all employees work in the office. (Round the final answers to 2
decimal places.)
View transaction list
Journal entry worksheet
Record the entry for payroll.
Note: Enter debits before credits.
Date
March 09
General Journal
Debit
Credit
![The following information as to earnings and deductions for the weekly pay period ended March 9 was taken from a company's payroll
records:
Employees Names
Hellen Craig
Joseph Lin
Dino Patelli
Sharleen McFee
Employee
Hellen Craig
Joseph Lim
Dino Patelli
Sharloon McFee
Totals
Gross
Pay
Weekly
Gross
$ 1,060.00
950.00
1,170.00
2,040 00
$ 5,220.00
Pay
$1,060
950
1,170
2,040
$5,220
Earnings
to End of
Previous Income
Week Taxes
$12,510 $168.95
14,400
142.90
20,260
195.50
33,580 469.50
Required:
1. Calculate the employees' El and CPP withholdings and the amounts paid to each employee. (Do not round intermediate
calculations. Round the final answers to 2 decimal places.)
EI
Premium
$976.85 $122.00
Income
Taxes
$
Health
Insurance.
Deductions
$26.00
Deductions
$ 168.95
142.90
28.00
40.00
28.00
195.50
469.50
976.85
CPP
Health
Insurance
$26.00
28:00
40.00
28.00
$122.00
Total
Deductions
Net Pay](https://content.bartleby.com/qna-images/question/4f532a2d-41c4-4378-bc40-36a341559f3a/0ed89fd6-0c5d-454f-9423-df8d6c95194e/r9tjpi_thumbnail.jpeg)
Transcribed Image Text:The following information as to earnings and deductions for the weekly pay period ended March 9 was taken from a company's payroll
records:
Employees Names
Hellen Craig
Joseph Lin
Dino Patelli
Sharleen McFee
Employee
Hellen Craig
Joseph Lim
Dino Patelli
Sharloon McFee
Totals
Gross
Pay
Weekly
Gross
$ 1,060.00
950.00
1,170.00
2,040 00
$ 5,220.00
Pay
$1,060
950
1,170
2,040
$5,220
Earnings
to End of
Previous Income
Week Taxes
$12,510 $168.95
14,400
142.90
20,260
195.50
33,580 469.50
Required:
1. Calculate the employees' El and CPP withholdings and the amounts paid to each employee. (Do not round intermediate
calculations. Round the final answers to 2 decimal places.)
EI
Premium
$976.85 $122.00
Income
Taxes
$
Health
Insurance.
Deductions
$26.00
Deductions
$ 168.95
142.90
28.00
40.00
28.00
195.50
469.50
976.85
CPP
Health
Insurance
$26.00
28:00
40.00
28.00
$122.00
Total
Deductions
Net Pay
Expert Solution
![Check Mark](/static/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by stepSolved in 3 steps
![Blurred answer](/static/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Select the letter of the item below that best matches the definitions that follow. a. Data Files CD ________ b. Lists ________ c. Forms ________ d. Registers ________ e. Reports and graphs ________ f. Restoring a backup ________ g. Icon bar ________ h. Home page ________ i. Backing up a file ________ 1. One click access to QuickBooks Accountant Centers and Home page. 2. The process of rebuilding a backup file to a full QuickBooks Accountant file ready for additional input. 3. Electronic representations of paper documents used to record business activities such as customer invoices, vendor bills, and checks. 4. A big-picture approach of how your essential business tasks fit together organized by logical groups such as customers, vendors, and employees. 5. Groups of names such as customers, vendors, employees, items, and accounts. 6. Contains backups of all the practice files needed for chapter work and completion of assignments. 7. The process of creating a copy of a…arrow_forwardExplain an example of source documents.arrow_forwardHow can forwardrates be used for hedging purposes?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
![Text book image](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
![Text book image](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
![Text book image](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
![Text book image](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education