Trax Ltd. has six employees, each of whom earns $3,000 per month. Income taxes are 20% of

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Trax Ltd. has six employees, each of whom earns $3,000 per month. Income taxes are 20% of gross pay and the company deducts EI and CPP. Prepare the March 31 journal entry to record payroll for the month.

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Fundamental Accounting Principles Volume 1

ISBN: 9781259259807

15th Canadian Edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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Question Posted: Jul 10, 2018 01:38 PM

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Trax Ltd. has six employees, each of whom earns $3,000 per month. Income taxes are 20% of

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Mar 31 Wages Expense 1800000 CPP Payable 3000 29167 49...View the full answer

Fundamental Accounting Principles Volume 1

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