The salary for administrative employees is P20,000; faculty, P300,000. Hanna shares 50% of the insurance premium per month. Total amount of installment is P10,000 and P44 Monthly payroll register of Hanna Institute for Janua The salary for administrative employees is P20,000; faculty, P300,000. Hanna sham 50% of the insurance premlum per month. Total amount of installment is P10,000 and P2,500 will be deducted from both departments (admin and faculty) each. There are 5 faculty members with equal salarles; two of them are most senior and entitiod to avail 2 weeks paid leave every year. Mr. Johnson, one of two senior members, receiver bonus of P1,000 for his last year's awesome result. Required: Journal entries to record payroll on January 31st.
The salary for administrative employees is P20,000; faculty, P300,000. Hanna shares 50% of the insurance premium per month. Total amount of installment is P10,000 and P44 Monthly payroll register of Hanna Institute for Janua The salary for administrative employees is P20,000; faculty, P300,000. Hanna sham 50% of the insurance premlum per month. Total amount of installment is P10,000 and P2,500 will be deducted from both departments (admin and faculty) each. There are 5 faculty members with equal salarles; two of them are most senior and entitiod to avail 2 weeks paid leave every year. Mr. Johnson, one of two senior members, receiver bonus of P1,000 for his last year's awesome result. Required: Journal entries to record payroll on January 31st.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Required: Prepere the Joumal entries to: (a) distribute the weekly
the bonus, vacation and holiday pay.
rue
R4 Monthly payroll register of Hanna Institule for January shows the following information:.
The salary for administrative employees is P20,000; faculty, P300,000. Hanna shareo
P2,500 will be deducted from both departments (admin and faculty) each.
There are 5 faculty members with equal salaries; two of them are most senlor and entitler
to avail 2 weeks pald leave every year. Mr. Johnson, one of two senior members, received
bonus of P1,000 for his last year's awesome result.
Required: Journal entries to record payroll on January 31st.
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