Journal entries

Question 1

Remittance of payroll to receiver general

Answer 1

Dr. Employee Income Tax Deduction Payable
Dr. CPP Contributions Payable
Dr. EI Premium Payable
Cr. Cash

Question 2

J/E to record companies weekly payroll

Answer 2

Dr. Wages Expense
Cr. Employee Income Tax Deduction Payable
Cr. CPP Contributions Payable
Cr. EI Premium Payable
Cr. Cash

Question 3

J/E for payroll related Expenses

Answer 3

Dr. Payroll Tax Expense
Cr. CPP Contributions Payable
Cr. EI Premium Payable

Question 4

Assurance Type J/E (3)

Answer 4

Dr. A/R
Cr. Sales Revenue

Dr. Warranty Expense
Cr. Cash

Dr. Warranty Expense
Cr. Warranty Liability

Question 5

Service- Type Warranty (3)

Answer 5

Dr. A/R
Cr. Unearned Revenue
Cr. Revenue

Dr. Warranty Expense
Cr. Cash

Dr. Unearned Revenue
Cr. Warranty Revenue

Question 6

A/P

Answer 6

Dr Purchase
Cr A/P

Dr Freight In
Cr Cash

Dr A/P
Cr Sales Returns and Allowances

Dr. A/P 54000
Cr. Cash Discounts
Cr. Cash

Question 7

Notes Payable (3)

Answer 7

Dr. Equipment
Cr. Notes Payable

Dr. Interest Expense
Cr. Interest Payable

Dr. Interest Payable
Dr. Notes Payabl
Cr. Cash