Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2. Prepare a General Journal entry to record the employer's payroll expenses resulting from the payroll. (Round your answers to 2 decimal places.) View transaction
2. Prepare a General Journal entry to record the employer's payroll expenses resulting from the payroll. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet > Record the employer's payroll expenses. Note: Enter debits before credits. Date General Journal Debit Credit Mar 16 Record entry Clear entry View general journal3. Prepare General Journal entries to accrue employee fringe benefit costs for the week. Assume that the company matches the em ployeesr payments for medical insurance and contributes an amount equal to 8% of each employee's gross pay to a retirement program. Also, each employee accrues vacation pay at the rate of 6% of the wages and salaries earned. The company estimates that all employees eventually will be paid their yacation pay. {Round your answers to 2 decimal places.} View transaction list Journal entry worksheet Record employee benets. Note: Enter debits before credit. Problem Al-3A Journal entries-payroll taxes, and employee fringe benefits LO2, 3, 4 A company showed the following information in its payroll register for the week ended March 16, 2021: Deductions Pay Distribution Office Medical Total Sales Salaries Salaries Shop Salaries EI Premium Income Taxes Insurance CPP Union Dues Deductions Net Pay Expense Expense Expense 27 .39 331.58 52.50 78.34 105.00 594. 81 1, 055.19 1, 650.00 30.71 440 . 71 25.00 88 . 24 127.50 712. 17 1, 137.83 1, 850.06 35.69 539.01 35.00 103.09 78.75 791.54 1, 358.46 2, 150.00 24.90 244.97 47.50 70.92 90.00 478. 29 1, 021.71 1, 500.00 118.69 1, 556.28 160.00 340.60 401. 25 2, 576.82 4,573.18 1, 650.00 1, 500.00 4, 000.00 Required: 1. Prepare a General Journal entry to record the payroll register information. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record payroll deductions for the pay period ending Mar 16. Note: Enter debits before credits. Date General Journal Debit Credit Mar 16 Record entry Clear entry View general journal
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started