Refer to Problem 8C-2 In Problem 8C-2 Counter point Counselling Co. of Edmonton recorded the following details
Question:
In Problem 8C-2
Counter point Counselling Co. of Edmonton recorded the following details in its professional payroll journal for July 2014:
*Some of the deductions reflect the fact that annual maximums were reached by July 31, 2014.
Counterpoint matches the charitable donation of each employee and forwards the total on the 25th of each month to the Canadian Centre for Counselling Research. Association dues are sent to the Provincial Counsellors Society on the 20th of each month. Life insurance premiums are remitted to ABCD Insurance Company Ltd. by the 20th day of the following month. Health insurance premi- ums are remitted to the Provincial Health Care Organization by the 15th of the next month, at the same time as the employee deductions are sent to the CRA.
Required
Give the general journal entry necessary to recognize all payroll benefits expense arising from that payroll, given the entry you made in Chapter 8.
Step by Step Answer:
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker