Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Prepare the following Journal entries in relation to this pay period register. 5 marks each (25 marks total) Net pay April 4th Pay
1. Prepare the following Journal entries in relation to this pay period register. 5 marks each (25 marks total) Net pay April 4th Pay date Earnings CPP Tax Union dues Company paid benefits Bi-weekly Fernlund Sally 2,300.00 120.00 70.00 325.00 7.00 45.00 1,733 Tabour Brett 1,400.50 110. 55.00 250.00 7.00 45.00 933.5 Storm Silva Catulli Jessica 2,000.30 115.75 65.50 305.00 5.00 45.00 1,464.05 Andrew 2,200.00 120.00 70. 325.00 7.00 0 1,678 Rose 1,150.00 X 42.00 125.50 5.00 25.00 952.5 Lang Richard 1,980.00 145.00 50.00 350.00 X 35.00 1,400 a) Prepare the payroll register Journal entry b) Prepare the vacation accrual entry at 6% assuming all earnings are vacationable earnings. c) Record the journal entry to record the Company expenses for Source deductions, check to be issued at a later date. d) Record the journal entry for company fringe benefits e) Record the journal entry to issue payment to the Canada Revenue Agency for source deductions
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started