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6 i 7 Question 5 - Payroll Journal M&D Company has numerous employees who are paid on a monthly basis. Payroll information for August of
6 i 7 Question 5 - Payroll Journal M&D Company has numerous employees who are paid on a monthly basis. Payroll information for August of the current year is given below. Salaries Employee CPP contributions Employee El contributions Employee income tax withheld Charitable contributions (employee only $135,000 4,320 2,336 20,250 875 1. Prepare the journal entry to record the August 31 payroll (accrue). 2. Prepare the journal entry to record the employer expenses associated with the payroll. 3. Prepare the journal entry to pay the employees. 4. Prepare the journal entry to record the remittance of payroll taxes to the government (September 15) 5. Prepare the journal entry to record payment to the United Way (September 15) Date Account /Explanation Debit Credit
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