Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Blue Restaurant's gross payroll for April is $ 4 5 , 8 0 0 . The company deducted $ 2 , 4 9 6 for

Blue Restaurant's gross payroll for April is $45,800. The company deducted $2,496 for CPP, $724 for El, and $9,331 for income taxesBlue Restaurant's gross payroll for April is $45,800. The company deducted $2,496 for CPP, $724 for El, and $9,331 for income taxes
from the employees' cheques. Employees are paid monthly at the end of each month.
(a)
Correct Answer
Your answer is correct.
Prepare a journal entry for Blue on April 30 to record the payment of the April payroll to employees. (Credit account titles are
automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles
and enter 0 for the amounts. List all debit entries before credit entries.)
Date Account Titles
Debit
Credit
Apr.
30
Salaries Expense
45,800
CPP Payable
El Payable
724
Income Tax Payable
9,331
33,249
eTextbook and Media
List of Accounts
Attempts: 1 of 1 used
(b)
Prepare a journal entry on April 30 to accrue Blue's employer payroll costs. Assume that Blue is assessed workers' compensation
premiums at a rate of 1% per month and accrues for vacation pay at a rate of 4% per month. (Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for
the amounts. List all debit entries before credit entries. Round answers to 0 decimal places, e.g.5,276.)
Date
Account Titles
Debit
Credit
Apr.
30
from the employees' cheques. Employees are paid monthly at the end of each month.
(a)
Prepare a journal entry for Blue on April 30 to record the payment of the April payroll to employees. (Credit account titles are
automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles
and enter 0 for the amounts. List all debit entries before credit entries.)
Date Account Titles
Debit
Credit
Apr. 30
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost-Benefit Analysis

Authors: Euston Quah, E.J. Mishan

5th Edition

0415350379, 9780415350372

More Books

Students also viewed these Accounting questions