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5. Old Manufacturing Corp. started its operations on Sept. 1 (Monday). Employees work from Monday to Friday based on a 40 hour workweek basis.
5. Old Manufacturing Corp. started its operations on Sept. 1 (Monday). Employees work from Monday to Friday based on a 40 hour workweek basis. Payroll is prepared on a weekly basis and paid on the following Wednesday. Gross salaries and wages: Daily Rate Headcount Direct Labor 32 P750 Indirect Labor 8 600 Selling 10 800 Administrative 5 640 Use the table shown in number 4 for deductions and contributions. Required: 1. Prepare the journal entry to record the weekly payroll for the whole month of September. 2. Prepare the journal entry to record the payment of the weekly payroll for the whole month of September 3. Prepare the journal entry to record the accrued payroll in September. 4. Prepare the entry to record the distribution of payroll. 5. Prepare the entry to record employer's contribution 6. Prepare the journal entry to record the remittance of income tax withheld and employee contributions for the month of September 7. Prepare the journal entry to record the remittance of employer contributions for the month of September.
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Step: 1
1 Prepare the journal entry to record the weekly payroll for the whole month of September Debit Salaries and Wages Expense 120000 Credit Cash 120000 E...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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