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A company has three employees, each of whom has been employed since January 1 , earns $ 3 , 5 0 0 per month, and
A company has three employees, each of whom has been employed since January earns $ per month, and is paid on the last day of each month. On March the following accounts and balances appeared in its ledger.
Employees Income Taxes Payable, $liability for February
EI Payable, $liability for February
CPP Payable, $liability for February
Employees Medical Insurance Payable, $liability for January and February
During March and April, the company completed the following related to payroll.
Mar. Issued cheque # payable to the Receiver General for Canada. The cheque was in payment of the February employee income taxes, EI and CPP amounts due.
Mar. Prepared a general journal entry to record the March payroll register, which had the following column totals:
EI Income Taxes CPP Medical Insurance Total Deductions Net Pay Office Salaries Shop Salaries
$ $ $ $ $ $ $ $
Mar. Recorded the employers $ liability for its contribution to the medical insurance plan of employees and vacation pay accrued to the employees.
Mar. Prepared a general journal entry to record the employers costs resulting from the March payroll.
Apr. Issued cheque # payable to the Receiver General for Canada in payment of the March mandatory deductions.
Apr. Issued cheque # payable to All Canadian Insurance Company in payment of the employee medical insurance premiums for the first quarter.
Required:
Prepare the entries to record the transactions. Round your answers to decimal places. Do not round intermediate calculations.
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