At Blossom’s Totally Tapas restaurant, the estimated gross payroll total for all employees this year is $837,000. The job classifications and their estimated payroll are as follows: office staff $93,000 and restaurant staff $744,000. The premium rate for office staff is 0.2%, and the premium rate for restaurant staff is 1.5%. Actual payroll is $811,000. The job classifications and their actual payroll are as follows: office staff $93,000 and restaurant staff $718,000. Prepare the journal entry for the payment of Blossom’s Totally Tapas workers’ compensation premium. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
At Blossom’s Totally Tapas restaurant, the estimated gross payroll total for all employees this year is $837,000. The job classifications and their estimated payroll are as follows: office staff $93,000 and restaurant staff $744,000. The premium rate for office staff is 0.2%, and the premium rate for restaurant staff is 1.5%. Actual payroll is $811,000. The job classifications and their actual payroll are as follows: office staff $93,000 and restaurant staff $718,000. Prepare the journal entry for the payment of Blossom’s Totally Tapas workers’ compensation premium. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
At Blossom’s Totally Tapas restaurant, the estimated gross payroll total for all employees this year is $837,000. The job classifications and their estimated payroll are as follows: office staff $93,000 and restaurant staff $744,000. The premium rate for office staff is 0.2%, and the premium rate for restaurant staff is 1.5%. Actual payroll is $811,000. The job classifications and their actual payroll are as follows: office staff $93,000 and restaurant staff $718,000.
Prepare the journal entry for the payment of Blossom’s Totally Tapas workers’ compensation premium. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Account Titles and Explanation
|
Debit
|
Credit
|
---|---|---|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
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