Chapter 4
Current Liabilities
187
Application Questions Group B
AP-1B (
2
)
Corrose Company bought equipment worth $10,000 on credit from a supplier. On June 20,
the supplier delivered the equipment and sent an invoice, which is due on July 20. Write the
journal entry the company must prepare to record the purchase of equipment on June 20.
Date
Account Title and Explanation
Debit
Credit
AP-2B (
3
)
Claudia Kusol works for a Canadian marketing firm as a customer service representative.
She has the following information for her pay for the week ending September 23, 2016. Her
employer contributes 100% toward Canada Pension Plan and 140% toward Employment
Insurance.
Hours
38
Hourly Rate
$16.50
Income Tax
$100.32
Canada Pension Plan
$27.70
Employment Insurance $11.79
