Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

please solve this question. On January 6, at the end of a pay period, Southgate Inc.'s Payroll Register showed that its 18 employees had earned

image text in transcribed

please solve this question.

On January 6, at the end of a pay period, Southgate Inc.'s Payroll Register showed that its 18 employees had earned $19,300 of sales salaries and $5,600 of office salaries. Withholdings from the employees' salaries were to include $468 of EI, $1,113 of CPP, $4,884 of income taxes, $559 of medical insurance, and $489 of union dues. Prepare journal entries to record the following: a. January 6 payroll. b. Southgate Inc.'s expenses resulting from the January 6 payroll. Assume the employer's El and CPP contributions are at the rate of 1.4 times and equivalent to the employee's portion, respectively. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). General Journal Page Gj1 Date Account/Explanation F Debit Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions