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On 21 November, the weekly payroll register of Python Ltd showed gross wages and salaries of $87 000. The organisation withheld $20 880 for income tax, $1670 for life insurance, $2500 for medical insurance premiums, and $8700 for superannuation deductions made on behalf of employees. Prior to this transaction the entity's current liabilities (extract) were as follows. then,
Question (a) Make the general journal entry to record the payroll and payroll deductions.
Question (b) Make the general journal entry to record the employer's contributions to the employees' superannuation fund at the rate of 12% of gross payroll.
Question (c) Make the entries in the cash payments journal to record payment of the above liabilities.
Australian Taxation Office $41 760Life Insurance Payable 2 505Health Insurance Payable 3 750Superannuateon Deductions Payable 17 400
Compute the value weighted index and percentage changes for each of the three days. Compute the price weighted index and percentage changes for each
Centaur Corporation is considering the purchase of an annex to one of its buildings. The annex will cost $10,000,000. Centaur estimates that the building annex will save it $900,000 in rent in its first year, and that the rent savings will increase b..
multiple choice questions on variable costs.fixed costs and variable costs 1. which of the following is an example of a
what is the adjusted book balance on the bank reconciliation
Discuss factors or conditions that contribute to such a possibility. How can additional information and supplementary data (beyond financial statements) help prevent this possibility?
Journalize the transaction to record cash and credit sales for the period. Ignore the entry for cost of merchandise sold (entry 1).
The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2005 and December 31, 2005: January 1, 2005 December 31, 2005 Accounts receivable 50,000 71,000 Inventory 39,000 28,000. Calculate the amount of sa..
(Divisional cost of capital) LPT Inc, is an integrated oil company headquartered in Dallas, Texas. The company has 3 operating divisions: oil exploration and production (commonly referred to as E&P), pipelines, and refining. The pipeline division man..
The following cost data were taken from the records of a manufacturing company: Based upon this information, the manufacturing cost incurred during the year was
What types of accounts are found in the balance sheet, and how are the accounts arranged and grouped? What types of information may users of the balance sheet?
Much money on sheet music as she did on cds. the total amount she spent fot the sheet , music and cds was one third of her monthly budget of $189. Explain how much money did mrs. perrin spend on sheet music?
Swindall Industries uses straight-line depreciation on all of its depreciable assets. The company records annual depreciation expense at the end of each calendar year. On January 11, 2007, the company purchased a machine costing $90,000. Prepare jour..
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