lovethenae12
08.04.2021 •
Business
Collin is a full-time exempt employee in Juneau, Alaska, who earns $142,200 annually and has not yet reached the Social Security wage base. He is single with 1 withholding allowance and is paid semimonthly. He contributes 3% per pay period to his 401(k) and has pre-tax health insurance and AFLAC deductions of $165 and $25, respectively. Collin has a child support garnishment of $300 per pay period. What is his net pay
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Ответ:
Explanation:
Drawings A/c Dr… 55,000
To Bank A/c 40,000
To Furniture A/c 15000
(Being Cash withdrawn and furniture taken for Private Use)
Here you can divide this journal into two also, but to save time i combined them in one. So we have debited Drawings and Credited Furniture & Bank with their respective amounts which will give effect in the final balance sheet.