15. A company receives $113, of which $13 is for HST (harmonized sales tax). The journal entry to record the sale would include a A. debit to HST Expense for $13. B. credit to HST Payable for $13. C. debit to Sales for $113. D. debit to Cash for $100. 16.An employee receives a bi-weekly gross salary of $3000. Income tax is $218, CPP is $99, El is $36 and union dues are $50. What is the employees net take home pay? A. $2,597 B. $2,732 C. $2,782 D. $3,000 17. The federal government requires which of the following? A. Only the employer to pay CPP contributions. B. Only the employee to pay CPP contributions. C. Neither the employer nor the employee to pay CPP contributions. D. Both the employer and the employee to pay CPP contributions. 18. On July 1, 2015, Wilson, Inc., borrowed $12,000 from First Bank on a one year, 8% note payable. Interest is payable on December 31, 2015 and on June 30, 2016, the due date of the note. The journal entry required on the company's books to record the note payable on July 1, 2015 would include which of the following? A. A credit to notes payable for $12,000. B. A credit to notes payable for $12,960. C. A debit to cash for $11,040. D. A debit to interest expense for $960. 19. Jake Company is involved in a lawsuit. The liability which could arise as a result of this lawsuit should be recorded on the books if the probability of Jake owing money as a result of the lawsuit is which of the following? A. Remote and the amount can be reasonably estimated. B. Probable and the amount cannot be reasonably estimated. C. Reasonably possible and the amount can be reasonably estimated. D. Probable and the amount can be reasonably estimated. 20. Goodwill: A. should be treated like most other intangible assets and amortized over a useful life of not more than 40 years. B. is an accounting measurement of how well a company's employees behave towards the company's customers. C. should be recorded as a negative value if a company is purchased for less than the net carrying value of its assets. D. is recorded when the purchasers of a business pay more than the fair market value of the assets purchased. 21. When the amount of a contingent liability cannot be estimated and its possible but not probable, the company should: A. include a description in the footnotes to the financial statements. B. record the amount of the liability times the probability of its occurrence. C. record the liability and estimated amount of the loss on the balance sheet. D. omit the information about the contingent liability from its financial statements and footnotes