Prepare a journal entry on April 30 to accrue Culver's employer payroll costs. Assume that Culver is assessed workers' compensation premiums at a rate of 1% per month and accrues for vacation pay at a rate of 4% per month. (Credit account tit automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account and enter O for the amounts. List all debit entries before credit entries Round answers to decimal places eg 5276)
Prepare a journal entry on April 30 to accrue Culver's employer payroll costs. Assume that Culver is assessed workers' compensation premiums at a rate of 1% per month and accrues for vacation pay at a rate of 4% per month. (Credit account tit automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account and enter O for the amounts. List all debit entries before credit entries Round answers to decimal places eg 5276)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
110.
Transcribed Image Text:Prepare a journal entry for Culver on April 30 to record the payment of the April payroll to employees. (Credit account titles are
automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles
and enter O for the amounts. List all debit entries before credit entries.)
Date Account Titles
Apr. 30
Salaries Expense
Date
CPP Payable
Apr. 30
El Payable.
Income Tax Payable
Cash
Debit
Account Titles
48300
Debit
Credit
Prepare a journal entry on April 30 to accrue Culver's employer payroll costs. Assume that Culver is assessed workers'
compensation premiums at a rate of 1% per month and accrues for vacation pay at a rate of 4% per month. (Credit account titles are
automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles
and enter O for the amounts. List all debit entries before credit entries. Round answers to 0 decimal places, e.g. 5,276.)
2632
Credit
763
9181
35724
Transcribed Image Text:Current Attempt in Progress
Culver Restaurant's gross payroll for April is $48,300. The company deducted $2,632 for CPP, $763 for El, and $9,181 for income
taxes from the employees' cheques. Employees are paid monthly at the end of each month.
(a)
Your answer is correct.
Prepare a journal entry for Culver on April 30 to record the payment of the April payroll to employees. (Credit account titles are
automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles
and enter O for the amounts. List all debit entries before credit entries.)
k
Date
Apr. 30
Account Titles
Salaries Expense
Debit
48300
Credit
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