Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You are the Payroll Manager for ABC Oil. Your company uses the EFT transfer to pay their employees. Employees are paid using ETF to their
You are the Payroll Manager for ABC Oil. Your company uses the EFT transfer to pay their employees. Employees are paid using ETF to their bank accounts Payroll Register For the Month Ending October 31, 2020 Earnings Employee Name r. Nationality Ratel Hrs. Salary Worked Regular Deductions Qatar National Social Overtime Allowances Housing Social Allow Allow, Gross Net & Other Pay Pension Club Pay Khaled All Qatar 40.00 700 355.00 125 30,620.00 Tom Thomas Ireland 45.00 125 7,547.50 Peter Jones 35.00 7.900 125 13,890.00 Spain Canada 160 6,400.00 24,000,00 30,400.00 167 7.200,00 47250 7,672.50 166 5,600.00 315.00 5.915.00 160 2,600.00 2,600.00 165 4,500.00 210.94 4,710.94 165 6,080.00 285.00 6,365.00 Susan Smith 2,600 125 2.475.00 Saud Al Kuwari Qatar 4,500 700 260.00 125 5,02594 6,601.00 Fatima Ali Qatar 6,080 700 339,00 125 Totais 32,380.00 25,28344 57.663 44 2.100.00 7,900.00 95400 750.00 65,959.44 Required: payl_ a) Prepare the Journal entry to record the October 31, 2020 payroll b) Prepare the Journal entry to record any expenses liabilities that the employer may incur because of the payroll c) Prepare the Journal entry to transfer the adequate funds from the cash account to a special payrol checking account on October 31, 2020 4) Prepare the Journal entry to record payment to the Qatar government amount due for QNPP on October 31, 2020
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started