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Please help me with this. Just answer the numbers 2 and 6 Salaries and Payables and Philhealth contributions From the above evidence you gathered, prepare
Please help me with this. Just answer the numbers 2 and 6 "Salaries and Payables" and "Philhealth contributions"
From the above evidence you gathered, prepare an audit working paper and determine the following: 1. Salaries expense for the month of December. 2. Salaries payable. 3. Cash disbursement for December Payroll. 4. Income taxes withheld 5. $55 contributions 6. Philhealth contributions 7. Paglbig contribution 8. Advances to employees Payroll Problem: Items related to DO-GAS payroll as of December 31, 2020 are: Accrued salaries and wages P776,000 Payroll deductions for: Income taxes withheld 56,000 SSS contributions 64,000 Philhealth contributions 16,000 Advances to employees 80,000 As auditor, you disclosed the following based on your examination of the above items: Accrued salaries and wages: November 26 to 30 P 55,200 December 1 to 24 720,800 Total P776,000 December 26 to 29 (prepared by the supervisor) 42,500 December 30 & 31 holiday and no work (December 26 to 29 regular working hours and no overtime. 15 employees are working and being paid P550 per day.) Confirmed that P42,500 was paid in January 15, 2021. Income taxes withheld: Two employees should be refunded amounting to P2,400. SSS contributions: Includes SSS loan of 3 employees P6,300. Includes deduction for December 26 to 29 of P1,800 Philhealth contributions: Paglbig contribution was included, P4,500 Does not includes contribution computed for Dec, 26 to 29, P6,600 Of which 30% is for Paglbig contribution. Advances to employees: IOU's P55,000 Liquidated medical expenses (five employees) 15,000 Returned check issued by the employee 2,000 Travel advances of the sales manager 8,000 Total P80,000Step by Step Solution
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