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loveleen Kaur COM 204 WU002 Save Homework: Online Assignment, Ch 7 & 8 HW Score: 0%, 0 of 30 pts 1 of 7 (0 complete) Score: 0 of 3 pts Question Help S7-2 (similar to) Platinum Records has five employees who are paid on the 1st and 15th of each month for the work they performed in the preceding half-month. At April 30, each employee is owed gross pay of $1,750, but each one must have 10% of their pay withheld for income taxes. Each must also make Canada Pension Plan contributions of 5.1% of their gross pay and pay Employment Insurance premiums of 1.62% of their gross pay. The following entries were recorded for the month of April: (Click on the icon to view the journal entries.) Show what Platinum would report on its balance sheet at April 30 and on its income statement for the month ended on that date. Prepare the liability section of Platinum Records' balance sheet at April 30. (Leave any unused cells blank. Enter amounts to the nearest cent) Platinum Records Balance Sheet (partial) As at April 30 Liabilities: Current Liabilities: ? Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All 1 part maining Homework: Online Assignment, Ch 7 & 8 Save Score: 0 of 3 pts 1 of 7 (0 complete) HW Score: 0%, 0 of 30 pts S7-2 (similar to) Question Help Platinum Records has five employees who are paid on the 1st and 15th of each month for the work they performed in the preceding half-month. At April 30, each employce is owed gross pay of $1,750, but each one must have 10% of their pay withheld for income taxes. Each must also make Canada Pension Plan contributions of 5.1% of their gross pay and pay Employment Insurance premiums of 1.62% of their gross pay. The following entries were recorded for the month of April: (Click on the icon to view the joumal entries.) Show what Platinum would report on its balance sheet at April 30 and on its income statement for the month ended on that date. Balance Sheet (partial) As at April 30 Liabilities: Current Liabilities: ? Choose from any list or enter any number in the input fields and then click Check Answer. Clear All Check Answer 1 pant remaining 21C Sunny C O BAD ENG 2 20:48 04-07-2021 O Type here to search 1 of 7 (0 complete) 1 Journal Entries Date Accounts and Explanation Debit Credit Apr. 30 Salaries Expense 8,750.00 875.00 446.25 Employee Income Tax Payable Canada Pension Plan Payable Employment Insurance Payable Salaries Payable To record salaries and employee withholdings payable 141.75 7,287.00 Date Accounts and Explanation Debit Credit Apr. 30 Canada Pension Plan Expense 446 25 198.45 Employment Insurance Expense Canada Pension Plan Payable 446.25 Print Done Done o Bi F5 F6 F7 F8 F9 F10 F11 F12 PrtScr Ins > g