The Ripcord Parachute Club of Burlington employs three people and pays them on a weekly basis. Payroll data for the four weeks in February 2018 are shown below. 

Assumptions 

Employees pay 100% of the cost of long-term disability (LTD). Employees contribute just over 5% of their salary to the pension plan; the employer contributes 6% of the employees’ salary to the plan. Medical cost is split 50/50 by employees and employer. All payroll-related deductions are paid on the 15th of March. 

Required 

a. While recording the payroll journal in February, the bookkeeper for the Ripcord Parachute Club did not record any expense for employee benefits. Give the four journal entries that should be made for the month to record this expense. 

b. Post the entries from the payroll journal and the entries in a. above to the T accounts shown below. (You may ignore the accounts that are not shown.) 

c. List the cheques and the amounts of the cheques that will be issued on March 15, for the February payroll.

Transcribed Image Text:

Week 1-February Deductions Weekly Income Salary Net Chq. Pay EI LTD Pen. Employee Phil Lesage Linda Barry Howard Post 1,125 Тах СРР Med. No. 975 165 45 18 18 49 22 658 342 900 158 41 17 16 46 14 608 343 204 52 21 22 59 22 745 344 Week 2-February Deductions Weekly Income Salary Net Chq. No. Тах СРР EI LTD Pen. Employee Phil Lesage Med. Pay 975 165 45 18 18 49 22 658 358 Linda Barry 950 162 44 18 17 48 14 647 359 Howard Post 1,125 204 52 21 22 59 22 745 360