Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can someone please help 2/4/32/4/4@0:87.2 1. Net pay, $462.51 X E11-17 Twisted Indian Restaurant incurred salaries expense of $95,000 for September. The company's payroll expense

can someone please help

image text in transcribed
2/4/32/4/4@0:87.2 1. Net pay, $462.51 X E11-17 Twisted Indian Restaurant incurred salaries expense of $95,000 for September. The company's payroll expense includes CPP of 4.95 percent and EI of 1.4 times the employee payment, which is 1.66 percent of earnings. Also, the company provides the following benefits for employees: dental insurance (cost to the company of $5,723.09), life insurance (cost to the company of $441.09), and pension benefits through a private plan (cost to the company of $1,745.60). Record Twisted Indian Restaurant's payroll expenses for CPP, EI, and employee benefits on September 30. Ignore the CPP basic exemption. 34 Recording a payroll Total of CPP and EI Expense, $6,910.30 e W AGOENG 20

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Financial Accounting

Authors: Fred Phillips, Shana Clor Proell, Robert Libby, Patricia Libby

7th Edition

1265440166, 978-1265440169

More Books

Students also viewed these Accounting questions

Question

Consider the following two factor APT model

Answered: 1 week ago

Question

The personal characteristics of the sender

Answered: 1 week ago

Question

The quality of the argumentation

Answered: 1 week ago