Problem 10-1A On February 28, 2018, Molega Ltd.s general ledger contained the following lability accounts: Accounts payable CPP payable EI payable Sales tax payable $41,800 2,790 1,051 5,200 5,053 14,300 Unearned revenue The following selected transactions occurred during the month: Mar. 2 issued a three-month, 6% note payable in exchange for an account payable in the amount of $10,800. Interest is due at maturity. sold inventory for cash totalling S42400, plus 13% HST. The cost of goods sold was $23,600. Molega uses a perpetual inventory system. Received the property tax bill of $18,300 for the calendar year. It is payable on May 1. Provided services for customers who had made advance payments of S10.170 including 13% HST which s not payable until the related sale occurs. Paid $5,200 HST to the Receiver General for sales tax collected in February s 9 12 13 or amounts owing from the February pavrll for employee payroll deductions of $6,886 (CPP $1,395, EI $438, and employee income tax $5,053) and for employee benefits of $2.008 (CPP $1,395, and El $613). 27 Paid $29,900 to trade creditors on account. 31 Paid employees for the month. Gross salaries totalled $16,500 and payrll deductions included CPP of $782, EI of $310, and employee income tax of s6,130. Employee benefits included CPP of $782 and Et of $434. 10,800 Mar. 2 v Accounts Payable Notes Payable 10,800 Mar. 5 Cash 47,912 Sales 42,400 Sales Tax Payable 5,512 (To record sales) Mar. 5 Cost of Goods Sold 23,600 Inventory 23,600 To record cost of goods sold) Mar. 9 [Property Tax Expense 18,300 Property Tax Payable 18,300 Har 12Unearned Revenue 10,170 Mar. 12 Unearned Revenue 10,170 Service Revenue 9,000 Sales Tax Payable 1,170 Mar. 13 Sales Tax Payable 5,200 Cash 5,200 Mar. 16 Cpp Payable 2,790 1,051 5,053 El Payable Employee Income Tax Payable Cash 8,894 Mar. 27 Accounts payable 29,900 Cash 29,900 Mar,31 alanes Expense 16,500 Mar.27 |Accounts payable 29,900 Cash 16,500 Mar. 31 Salaries Expense 782 CPP Payable EI Payable Employee Income Tax Payable 310 6,130 9,278 Cash (To record payroll and employee deductions) Employee Benefits Expense Mar. 31 1,216 CPP Payable 782 El Payable (To record employee benefits) ment (To record employee benefits) Your answer is correct. Record any required adjusting entries at March 31. (Credit account titles are automatically answers to 0 decimal places, e.g. 5,275.) indented when the amo Date Account Titles and Explanation Debit Credit Mar. 31 Interest Expense 54 54 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT your answer is partially correct. Try again. Prepare the current liabilities section of the statement of financial position at March 31. (Round answers to o MOLEGA LTD Your answer is partially correct. Try again. Prepare the current liabilities section of the statement of financial position at March 31. (Round answers to 0 decimal place MOLEGA LTD. Statement of Financial Position (partial) March 31, 2018 43 90 Accounts Payable CPP Payable 4,354 EI Payable 1,970 6,682 Employee Income Tax Payable 16,236 Unearned Revenue 4,130 Accounts Payable 60,900 4,354] CPP Payable El Payable 1,970 Sales Tax Payable 6,682 Employee Income Tax Payable 16,236 Unearned Revenue 4,130 54 Total current liabilities