At Sunland’s Totally Tapas restaurant, the estimated gross payroll total for all employees this year is $783,000. The job classifications and their estimated payroll are as follows: office staff $87,000 and restaurant staff $696,000. The premium rate for office staff is 0.2%, and the premium rate for restaurant staff is 1.5%. Actual payroll is $761,000. The job classifications and their actual payroll are as follows: office staff $87,000 and restaurant staff $674,000. Prepare the journal entry for the payment of Sunland’s Totally Tapas workers’ compensation premium. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
At Sunland’s Totally Tapas restaurant, the estimated gross payroll total for all employees this year is $783,000. The job classifications and their estimated payroll are as follows: office staff $87,000 and restaurant staff $696,000. The premium rate for office staff is 0.2%, and the premium rate for restaurant staff is 1.5%. Actual payroll is $761,000. The job classifications and their actual payroll are as follows: office staff $87,000 and restaurant staff $674,000. Prepare the journal entry for the payment of Sunland’s Totally Tapas workers’ compensation premium. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
At Sunland’s Totally Tapas restaurant, the estimated gross payroll total for all employees this year is $783,000. The job classifications and their estimated payroll are as follows: office staff $87,000 and restaurant staff $696,000. The premium rate for office staff is 0.2%, and the premium rate for restaurant staff is 1.5%. Actual payroll is $761,000. The job classifications and their actual payroll are as follows: office staff $87,000 and restaurant staff $674,000.
Prepare the journal entry for the payment of Sunland’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
|
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education