Prepare the monthly journal entries for June 2023. Karlston paid the following bills by check: Printing Expenses $3,210, Electricity Expenses - $9,740, Internet Expenses $12,860, and the part-time receptionist salary expense for two weeks $3,980
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- On August 2, Jun Co. receives a $7,500, 90-day, 14.0% note from customer Ryan Albany as payment on his $7,500 account. Prepare Jun's journal entry assuming the note is honored by the customer on October 31 of that same year. (Round your answers to nearest whole dollar value. Use 360 days a year.)Andrew makes $40,000 per year and gets paid twice a month. Calculate his take-home pay for one paycheck ( a tax rate of 20%) on June 30. Label all payroll deductions and show your calculations.Make journal entries for both the employee and employer payroll contributions for the June 30th payroll cycle.On July 14th, the bookstore remits payroll to the CRA for the entire month of June. Make the necessary journal entry/entries.Kevin Devlin's credit card company determines his minimum monthly payment by taking 1.25% of any outstanding principal and adding it to any interest charges then rounding up to the nearest dollar. The credit card company charges an interest rate of 0.089% per day on previous balances. On November 12, Kevin used his credit card to pay for the following business expenses: van repairs ($653), equipment maintenance ($275), office supplies ($164), and dinner with clients ($112). (1) Assuming Kevin had no previous balance, determine his minimum payment due on December 1, his billing date. (ii) On December 1, instead of making his minimum payment, found in part (i). Kevin makes a payment of $400. Assuming there are no additional charges, determine Kevin's minimum payment on January 1.
- During the fourth quarter of 2019, there were seven biweekly paydays on Friday (October 4, 18; November 1, 15, 29;December 13, 27) for Quality Repairs. Using the forms supplied on pages 4-46 to 4-49, complete the following forthe fourth quarter:a. Complete the Federal Deposit Information Worksheets reflecting electronic deposits (monthly depositor).The employer’s phone number is (501) 555-7331. Federal deposit liability each pay, $677.68.b. Employer’s Quarterly Federal Tax Return, Form 941. The form is signed by you as president on January31, 2020.c. Employer’s Report of State Income Tax Withheld for the quarter, due on or before January 31, 2020.Quarterly Payroll DataTotal Earnings 5 Employees OASDI HI FIT SIT$18,750.00 $1,162.50 $271.88 $1,875.00 $1,312.50Employer’s OASDI $1,162.50Employer’s HI 271.88Federal deposit liability each pay 677.68Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 43; federal income tax withheld, $333; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to White? If required, round your answers to the nearest cent. a.$957.00 b.$901.88 c.$856.88 d.$1,335.00On August 2, Jun Co. receives a $6,100, 90-day, 12.5% note from customer Ryan Albany as payment on his $6,100 account receivable. Prepare Jun's journal entry assuming the note is honored by the customer on October 31 of that same year. (Do not round intermediate calculations. Round your answers to nearest whole dollar value. Use 360 days a year.)
- Following are transactions for Veilstone Jewelers. November 1 Accepted a $15,000, 180-day, 5% note from Vitalo in granting a time extension on her past-due account receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 30 Vitalo honored her note when presented for payment. Calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. Note: Do not round intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 1 2 3 4 Accepted a $15,000, 180-day, 5% note from Vitalo in granting a time extension on her past-due account receivable.Arnold Brown has a Visa Card with an annual percentage rate of 18.0%. The unpaid balance for his June billing cycle is $1,025.31. During the billing cycle he purchased a printer cartridge for $41.56, books for $242.87 and gasoline for $19.05. He made a payment of $1,200. If the account applies the unpaid balance method, what are the finance charge and the new balance?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.
- John Smith works 40 hours for ABC Corp. for $15 per hour. Required payroll deductions are: Social Security $37.20; Medicare $8.70; Federal Income Tax $58; and State Income Tax $10. Assuming the payroll deductions are paid in the following month, ABC would record John's pay with a journal entry that includes a ______. (Check all that apply.) Multiple select question. debit to Salaries and Wages Expense of $486.10 credit to Cash of $486.10 credit to State and Federal Income Tax Payable of $68 debit to Salaries and Wages Expense of $600 credit to FICA (Social Security and Medicare) Payable of $45.90A credit card company determines a card holder's minimum monthly payment by adding all new interest to 1.5% of the outstanding principal. The credit card company charges an interest rate of 0.05814% per day. On November 10, a customer used his credit card to pay for the following business expenses: van repairs ($654), equipment maintenance ($461), office supplies ($138), and dinner with clients ($123). Use the given information and the rule that minimum payments are rounded up to the nearest dollar to answer parts a and b below. a. Assuming the card holder had no new interest, determine his minimum payment due on December 1, his billing date. The card holder's minimum payment due on December 1 is $Arnold Brown has a Visa Card with an annual percentage rate of 18.0%. The unpaid balance for his June billing cycle is $1,341.57. During the billing cycle he purchased a printer cartridge for $40.41, books for $279.32 and gasoline for $16.91. He made a payment of $1,100. If the account applies the unpaid balance method, what are the finance charge and the new balance? The finance charge is $. The new balance is $| (Round to the nearest cent as needed.)
