Question 5 of 10 2 > 0.37/1 View Policies Show Attempt History Current Attempt in Progress 3. 4. Crane Wholesalers Ltd. has a December 31 year end. The company incurred the following transactions related to current liabilities: 1. Crane's cash register showed the following totals at the end of the day on March 17: pre-tax sales $51,000, GST $2.550, and PST $3,570 2. Crane remitted $49,000 of sales taxes owing from March to the government on April 30. Crane received its property tax bill for the calendar year for $69,600 on March 31, payable May 31. Crane recorded no entries pertaining to property tax during the current year prior to the receipt of this bill. Crane paid its employees for the week of August 15 on August 20. The gross pay was $84.000. The company deducted $4,128 for CPP $1,312 for El, $6,200 for pension, and $16,020 for income tax from the employees' pay. Crane recorded the employer portions of CPP and El for the week of August 15 on August 20 for $4,128 and $1.837. respectively. On September 15, all amounts owing for employee income taxes, CPF and El pertaining to the payroll transactions above were paid On December 31, Crane's legal counsel believes that the company will have to pay damages of $42,000 next year to a local utility.company for failing to pay it on time during the current year. (Hint: This will affect the Utilities Expense account) 5. 6. 2. Your answer is partially correct the order protre propreme TRACER TWITTER manually. Ustall debit entries before credit entries.) Date Account Titles and Explanation Cash Debit Credit Mar. 17 57120 Sales 51000 Sales Tax Payable 6120 Apr. 30 Sales Tax Payable 49000 Cash 49000 Mar. 31 Property Tax Expense Property Tax Payable May 31 Cash Aug 20 Salaries Expense 84000 El Payable 1312 CPP Payable 4128 16020 Employee Income Tax Payable 56340 Cash 6200 Pension Payable (To record payroll and employee deductions) Employee Income Tax Payable 16020 Cash 56340 Pension Payable 6200 (To record payroll and employee deductions) Employee Benefits Expense Aug. 20 CPP Payable El Payable (To record employee benefits) Sep. 15 CPP Payable El Payable Dec 31 y Utilities Expense Accounts Payable e Textbook and Media Assistance Used List of Accounts Attempts: unlimited St Answer Save for Later