7. Cassie Flohr, employee #375, was hired on May 1, last year at an annual salary of...
Question:
7.Cassie Flohr, employee #375, was hired on May 1, last year at an annual salary of
$36,000.00, paid bi-weekly. As of May of the current year, Cassie was entitled to two weeks' vacation at 4% of her vacationable earnings.
Cassie took her two weeks' vacation leave from July 9 to July 20, of the current year at which time she was paid her vacation pay on a manual cheque.
Prepare the monthly journal entry required at the end of May of the prior year and the journal entry or entries required to record the manual cheque Cassie received when she took her vacation leave in July of the current year.
For this question, use the following rates:
CPP4.95%EI1.63%
Income tax26.00%
Journal EntryDate:
ACCOUNT NAME DEBIT CREDIT
Journal EntryDate:
ACCOUNT NAME DEBIT CREDIT
Journal EntryDate:
ACCOUNT NAME DEBIT CREDIT
7.Cassie Flohr, employee #375, was hired on May 1, last year at an annual salary of
$36,000.00, paid bi-weekly. As of May of the current year, Cassie was entitled to two weeks' vacation at 4% of her vacationable earnings.
Cassie took her two weeks' vacation leave from July 9 to July 20, of the current year at which time she was paid her vacation pay on a manual cheque.
Prepare the monthly journal entry required at the end of May of the prior year and the journal entry or entries required to record the manual cheque Cassie received when she took her vacation leave in July of the current year.
For this question, use the following rates:
CPP4.95%EI1.63%
Income tax26.00%
Journal
Entry
Date:
ACCOUNT NAME
DEBIT
CREDIT
Journal EntryDate:
ACCOUNT NAME
DEBIT
CREDIT
Journal EntryDate:
ACCOUNT NAME
DEBIT
CREDIT