The salary for administrative employees is P20,000; faculty, P300,000. Hanna shares P44 Monthly payroll register of Hanna Institute for January shows the following information: 50% of the insurance premium per month. Total amount of installment is P10,000 and P2,500 will be deducted from both departments (admin and faculty) each. There are 5 faculty members with equal salaries; two of them are most senior and entitled to avail 2 weeks paid leave every year. Mr. Johnson, one of two senior members, received bonus of P1,000 for his last year's awesome result. Required: Journal entries to record payroll on January 31st.
The salary for administrative employees is P20,000; faculty, P300,000. Hanna shares P44 Monthly payroll register of Hanna Institute for January shows the following information: 50% of the insurance premium per month. Total amount of installment is P10,000 and P2,500 will be deducted from both departments (admin and faculty) each. There are 5 faculty members with equal salaries; two of them are most senior and entitled to avail 2 weeks paid leave every year. Mr. Johnson, one of two senior members, received bonus of P1,000 for his last year's awesome result. Required: Journal entries to record payroll on January 31st.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 1E
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Question
![Required: Prepare the journal entries to: (a) distribute the weekly payroll and to (b) ace
the bonus, vacation and holiday pay.
P44 Monthly payroll register of Hanna Institute for January shows the following information:
The salary for administrative employees is P20,000; faculty, P300,000. Hanna shar
50% of the insurance premium per month. Total amount of installment is P10,000 and
P2,500 will be deducted from both departments (admin and faculty) each.
There are 5 faculty members with equal salaries; two of them are most senior and entitled
to avail 2 weeks paid leave every year. Mr. Johnson, one of two senior members, received
bonus of P1,000 for his last year's awesome result.
Required: Journal entries to record payroll on January 31st.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8925b52c-e7f1-46f4-911a-122759ea8e17%2F7c18f21a-1a2d-4945-8e89-762441ac4447%2Fx34rw18_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required: Prepare the journal entries to: (a) distribute the weekly payroll and to (b) ace
the bonus, vacation and holiday pay.
P44 Monthly payroll register of Hanna Institute for January shows the following information:
The salary for administrative employees is P20,000; faculty, P300,000. Hanna shar
50% of the insurance premium per month. Total amount of installment is P10,000 and
P2,500 will be deducted from both departments (admin and faculty) each.
There are 5 faculty members with equal salaries; two of them are most senior and entitled
to avail 2 weeks paid leave every year. Mr. Johnson, one of two senior members, received
bonus of P1,000 for his last year's awesome result.
Required: Journal entries to record payroll on January 31st.
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