Brown Company's salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries is as follows: 12/31/20 P12,000 47,000 Employee advances Accrued salaries payable Salaries expense for the year Salaries paid during the year (gross) 12/31/21 P 18,000 ? 650,000 625,000

Brown Company's salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries is as follows: 12/31/20 P12,000 47,000 Employee advances Accrued salaries payable Salaries expense for the year Salaries paid during the year (gross) 12/31/21 P 18,000 ? 650,000 625,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please answer, round off final answers to two decimal places (3)
What is the Operating Expense for 2020 and 2019?
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A5
The total liabilities of ABC Company for the period ending December 31, 2021 amounted to ₱300,000. This balance includes the following items: Notes Payable due in 3 years ₱100,000 Interest Payable 3,200 Accounts Payable 140,800 Accrued Salaries Expense 35,000 Accrued Interest Income 4,000 Unearned Commissions Income 12,000 Unused Office Supplies 5,000 What is the correct amount of ABC Company's total liabilities?
Below information is excerpt from ABC Company's Dec. 31, 2021 financial records:
please dont provide answer in image format thank you Are there any calculations involved in the Profit or Loss statement ending on 30 June 2023? It says: 1. Warranty expense of $1,290,000. The balance of the provision for warranty at 30 June 2022 was $690,000. Of the balance of this provision at 30 June 2023, 65% is expected to be used by 30 June 2024. 2. $9,430,000 for employee expenses. This includes annual leave expense of $783,000. The balance of the provision for annual leave at 30 June 2022 was $1,230,000. 3. The carrying amount of the shop furniture and fittings sold in March 2023 of $740,000. This is comprised of cost of $2,250,000 less accumulated depreciation to date of sale of $1,510,000.
The totals from the first payroll of the year are shown below. TotalEarnings FICAOASDI FICAHI FITW/H StateTax UnionDues NetPay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the entry to record the payroll. For a compound transaction, if an amount box does not require an entry, leave it blank. If required, round your answers to two decimal places.
The totals from the first payroll of the year are shown below. TotalEarnings FICAOASDI FICAHI FITW/H StateTax UnionDues NetPay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the entry to deposit the FICA and FIT taxes. For a compound transaction, if an amount box does not require an entry, leave it blank. Round your answers to two decimal places.
DATE OF PAY PERIOD ENDING 20- 20 PAYMENT NET СК. EARNINGS DEDUCTIONS EMPLOYEE MAR. TOTAL NAME ALLOW RATE SOC. SEC. FED. INC. STATE INC. HOSP. INS OTHERS TOTAL PAY NO. NUMBER STATUS HOURS REGULAR OVERTIME TOTAL MED. TAX TAX TAX TAX 10 2 3 6. 9. 10 11 10 12 11 13 14 13 15 14 16 17 15 18 16 17 18 25 12 7.
C and D are being marked incorrect.
P11-3B The partial monthly records of KSell Products show the following figures: Computing and reporting payroll amounts Employee Earnings Regular earnings Overtime pay Total employee earnings $ 1,556 (c) (a) Dental and drug insurance $13,994 Total deductions (b) Net pay 140,810 Deductions and Net Pay Accounts Debited Withheld income tax $31,704 Salaries Expense 66,468 Canada Pension Plan 9,200 (d) Wages Expense Sales Commission Expense Employment Insurance 3,492 59,356 Required 1. Determine missing amounts a, b, c, and d. 2. Prepare the general journal entry on October 31 to record KSell Products' payrol for the month. Credit Payroll Payable for net pay. No explanation is required. P11-4B Assume that Marcy Jones is a marketing director in Metro Mobility's head office in Toronto. During 2018 she worked for the company all year at a $6,500 monthly sal- ary. She also earned a year-end bonus equal to 20 percent of her salary. Jones's monthly income tax withholding for 2018 was $1,762.28.…