Question
Camparound Canada has 24 employees who are paid on a monthly basis. For the most recent month, gross earnings were $68,000 The income tax
Camparound Canada has 24 employees who are paid on a monthly basis. For the most recent month, gross earnings were $68,000 The income tax withholdings are 15% of gross earnings Canada Pension Plan deductions are 4 95% of gross earnings and Employment Insurance deductions are 1 88% of gross earnings All employees have $15 per month withheld for charitable contributions. Ignore the basic Canada Pension Plan exemption The entry to record salary expense includes a OA. debit to Employee Income Tax Payable for $10,200.00 OB. debit to Employment Insurance Payable for $1,742.16 OC. credit to Salary Expense for $68,000.00 OD. credit to Canada Pension Plan Payable for $3,366 00
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Horngrens Accounting
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
10th Canadian edition Volume 1
978-0134213101, 134213106, 133855376, 978-0133855371
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