Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

II . Chapter 1 1 Payroll data for The Candy Co . For the month of June is shown below: table [ [ ,

II. Chapter 11
Payroll data for The Candy Co. For the month of June is shown below:
\table[[,Income,,,,,Net],[Employee,Salary,Tax,CPP,El,Union,Charitable,Health,Pay,,,,,,],[Sweeti,3280,404,148,62,28,36,15,2587,,,,,,],[Candi,3160,424,142,59,28,36,15,2456,,,,,,],[Cherri,2600,300,114,48,28,36,15,2059,,,,,,],[Jelli,3118,396,139,58,28,36,15,2446,,,,,,],[,12158,1524,543,227,112,144,60,9548,,,,,,]]
Candy Co doubles the employee's charitable contributions to Save the Children Canada and matches the employee's medical contributions.
Required:
Record the company's benefits expense for the month of June.
2.In July, the Candy Co. Issued the followingfour remittance cheques:
a. July 10, to the Employee's Union, cheque no.495
b. July 15, to the Provincial Health Care Insurance Company, cheque no.502
c. July 15, to the CRA, cheque no.503
d. July 25, to Save the Children Canada, cheque no.531 How much was each cheque for?
What journal entries would be made to record the four cheques in part 2 above?
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 Accounting

Authors: M.Y. Khan, P.K. Jain

2nd Edition

9339203445, 9789339203443

More Books

Students also viewed these Accounting questions