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  • General Journal Entries

    Uploaded by

    Shilakha Dhawan
    6 views6 pages
    This general journal records payroll transactions for an organization. It records salary expense for $2,550 that is paid to the bank. It also records employer contributions expenses for EI, QHSF, QPP, QPIP and CSST that are paid to the respective payable accounts. Finally, it records a payment from the bank to settle the federal and provincial tax payables and other payroll payables for a total of $945.84.

    Original Description:

    ACCounting exercise

    Original Title

    Acc1 Exercise General Ledger

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    This general journal records payroll transactions for an organization. It records salary expense for $2,550 that is paid to the bank. It also records employer contributions expenses for EI, QHSF, QPP, QPIP and CSST that are paid to the respective payable accounts. Finally, it records a payment from the bank to settle the federal and provincial tax payables and other payroll payables for a total of $945.84.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views6 pages

    General Journal Entries

    Uploaded by

    Shilakha Dhawan
    This general journal records payroll transactions for an organization. It records salary expense for $2,550 that is paid to the bank. It also records employer contributions expenses for EI, QHSF, QPP, QPIP and CSST that are paid to the respective payable accounts. Finally, it records a payment from the bank to settle the federal and provincial tax payables and other payroll payables for a total of $945.84.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 6

    General Journal

    Date Account Titles and Description PR Dr

    Salary expense 5100 2,550.00


    federal tax payable 2100
    provincial tax payable 2110
    employment insurance payable 2120
    QPIP payable 2130
    QPP payable 2140
    bank 1060

    (record the salary expense)


    2,550.00

    E.I. expense 5 44.63


    E.I. payable 2
    QHSF expense 5 68.85
    QHSF payable 2
    QPP expense 5 130.32
    QPP payable 2
    QPIP expense 5 18.77
    QPIP payable 2
    CSST expense 5 55.85
    CSST payable 2
    (record the employer contribution)

    E.I. payable 76.51


    QHSF payable 68.85
    QPP payable 260.64
    QPIP payable 32.18
    CSST payable 55.85
    Federal tax payable 204.80
    provincial tax payable 247.01
    bank (281.31 +664.53)
    (payment to federal and provincial DAS)
    General Journal

    Date Account Titles and Description PR Dr


    Page 1

    Cr

    204.80
    247.01
    31.88
    13.41
    130.32
    1,922.58

    2,550.00

    44.63

    68.85

    130.32

    18.77

    55.85

    945.84
    Page 2

    Cr

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