L. Murray Day Care Services has calculated the following amounts for an employee during the last week
Question:
L. Murray Day Care Services has calculated the following amounts for an employee during the last week of April.
Gross wages.............$3,600
Taxes withheld..............775
CPP contributions.........255
EI contributions..............82
a. Calculate the employee’s net pay.
b. Prepare the journal entries to record payroll for the employee.
Step by Step Answer:
a Gross Pay 3600 Deductions CPP 25500 EI 8200 Income Tax 77500 Net Pay 2...View the full answer
College Accounting A Practical Approach
ISBN: 978-0134166698
13th Canadian edition
Authors: Jeffrey Slater, Debra Good
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
Students also viewed these Business questions
-
Moffat District Council has calculated the following net cash flows for a proposed project costing £1,450,000: Required: Calculate the internal rate of return generated by theproject. Year Net...
-
Day care services in a small Midwestern city cost $30 per day per child. The high cost of these services is one reason why very few mothers who are on welfare work; given their low potential wages,...
-
In early July 2012, Dr. Elaine Matthews separated from her husband of some years. She maintained full custody of the couple's only child, a seven-year-old girl. Since May 1, 1998, Dr. Matthews had...
-
Factor the given expressions completely. 3a 3b
-
Use Kruskal's algorithm to design the communications network described at the beginning of the section.
-
Which of the following techniques require all the nodes to be connected? a. minimal-flow b. maximal-spanning tree c. maximal-flow d. minimal-spanning tree
-
Why wouldnt clubs simply deal with each other when arranging a transfer?
-
Presented below are two independent situations. (a) On January 6, Bennett Co. sells merchandise on account to Jackie Inc. for $7,000, terms 2/10, n/30. On January 16, Jackie Inc. pays the amount due....
-
Please Note that the initial cost for the punch press should be 20,000 (instead of 20.000); the initial cost for the belt grinder should be 2,500 (instead of 20.000). Make the decision based on...
-
Kim and Sam are playing with a ball in the park. Unfortunately the ball finishes up in the middle of a pond, out of reach. Kim thinks that hitting the water with a stick will make waves that will...
-
Adams DJ Services has three employees who work on an hourly basis and are paid weekly. The current CPP rate is 4.95%; the current EI rate is 1.88%; and the appropriate income tax rate is 23%. Each...
-
Define and state the purpose of the Canada and Quebec Pension Plans.
-
Write out each sum. Evaluate the sum. k + 1 1)* -1. k? k=1
-
Compare Figures 1-2 and 1-12. How do they differ? How are they similar? Explain how Figure 1-12 conveys the idea of speed in development. Figures 1-2 Figures 1-12 Maintenance Planning Implementation...
-
With a neat sketch explain the working of pressure-velocity compounding of impulse steam turbine.
-
The adjusted trial balance for Barry Moving Service as of December 31 is as follows: Required a. Prepare the closing entries at December 31 directly to Retained Earnings in general journal form. b....
-
Consider a piston with an orifice in a cylinder filled with a fluid of viscosity \(\mu\) as shown in Fig. 1.106. As the piston moves in the cylinder, the fluid flows through the orifice, giving rise...
-
Add a function to SmallWorld that computes the global clustering coefficient of a graph. The global clustering coefficient is the conditional probability that two random vertices that are neighbors...
-
Each of the following languages is the complement of a simpler language. In each part, construct a DFA for the simpler language, then use it to give the state diagram of a DFA for the language given....
-
Assume that a trial balance is prepared with an account balance of $21,360 listed as $21,630 and an account balance of $1,500 listed as $15,000. Identify the transposition and the slide.
-
The following are incomplete financial statements for Good Home Hardware. Calculate the missing values and complete the statements. Revenue: GOOD HOME HARDWARE Income Statement For the Year Ended...
-
Use the fundamental accounting equation to find the missing element in each of the following: a. A = ? L = $4,200 OE = $7,100 b. A = $18,000 L = $6,600 OE = ? c. A = $21,000 L = $8,000 OE = ? d. A =...
-
Go to the Roots website and find its 2017 Annual Report. Refer to pages 4142 of the report to answer the following questions: 1. List the accounts that are under Assets in the chart of accounts. 2....
-
Kenneth is watching an old game show rerun on television called Lets Make a Deal in which the contestant chooses a prize behind one of two curtains. Behind one of the curtains is a gag prize worth...
-
JRN Enterprises just announced that it plans to cut its next-year dividend,D1,from $2.75 to $1.10 per share and use the extra funds to expand its operations. Prior to this announcement, JRN's...
-
Question 30 2 pts 30. The closing process is necessary in order to O A. ensure that net income or net loss and dividends for the period are closed to retained earnings, O B. calculate net income or...
Study smarter with the SolutionInn App