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C & D Company has numerous employees who are paid on a semi-monthly basis. Payroll information for August of the current year is given below.
C & D Company has numerous employees who are paid on a semi-monthly basis. Payroll information for August of the current year is given below.
Employee compensation $175,000
Employee CPP contributions 5,320
Employee EI contributions 3,336
Employee income tax withheld 40,250
Prepare (1) the journal entry to record the August payroll (6 marks) and (2) the payroll benefits expense journal for C & D Company for August. (4 Marks)
Explanations are not required.
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