Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information relates to CCK Ltd for the month ended 30 June: Gross salaries $120,000 Income Tax Deductions $43,000 Employee's Superannuation Contribution $5,000 Employer's

The following information relates to CCK Ltd for the month ended 30 June: Gross salaries $120,000 Income Tax Deductions $43,000 Employee's Superannuation Contribution $5,000 Employer's Superannuation Contribution $8,000 What is the journal entry to record the payment of net salaries to employees to staff and to other organisations to cover liabilities due to them? Group of answer choices Debit Australian Taxation Office $43,000, debit Superannuation Fund Payable $13,000, debit salaries payable $120

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Agile Auditing Fundamentals And Applications

Authors: Raven Catlin, Danny M Goldberg, Ceciliana Watkins

1st Edition

1119693462, 9781119693468

More Books

Students also viewed these Accounting questions

Question

1. Discuss the main incentives for individual employees.pg 87

Answered: 1 week ago