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Exercise 10-6 Various liabilities LO2 Designer Architects had the following additional information at its November 30, 2020 year-end: a. The Unearned Revenue account showed a
Exercise 10-6 Various liabilities LO2 Designer Architects had the following additional information at its November 30, 2020 year-end: a. The Unearned Revenue account showed a balance of $81,000, which represented four months of services paid in advance by a client for services beginning on October 15, 2020. b. The payroll register showed the following unpaid amounts as at November 30: EIN Premium 270.41** Income Taxes 1,480.00 CPP Total Deductions 2,124.39 Net Payable 5,975.61 Office Salaries 4,400.00 Sales Salaries 3,700.00 373.98** *These values are based on assumed payroll deductions. **The employer's portions of El and CPP are 1.4 times and 1 times the employees' portion, respectively. c. The November utility bill in the amount of $4,060 was unpaid and unrecorded at November 30. Required: Prepare the appropriate entries at year-end based on the above information: (Round the final answers to 2 decimal places.) View transaction list Journal entry worksheet 4 1 3 2
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