The salary for administrative employees is P20,000; faculty, P300,000. Hanna shares 50% of the insurance premium per month. Total amount of installment is P10,000 and P44 Monthly payroll register of Hanna Institute for Janua The salary for administrative employees is P20,000; faculty, P300,000. Hanna sham 50% of the insurance premlum 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 salarles; two of them are most senior and entitiod to avail 2 weeks paid leave every year. Mr. Johnson, one of two senior members, receiver 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 50% of the insurance premium per month. Total amount of installment is P10,000 and P44 Monthly payroll register of Hanna Institute for Janua The salary for administrative employees is P20,000; faculty, P300,000. Hanna sham 50% of the insurance premlum 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 salarles; two of them are most senior and entitiod to avail 2 weeks paid leave every year. Mr. Johnson, one of two senior members, receiver bonus of P1,000 for his last year's awesome result. Required: Journal entries to record payroll on January 31st.
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter10: Liabilities: Current, Installment Notes, And Contingencies
Section: Chapter Questions
Problem 4PA
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Recommended textbooks for you
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning