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company deducted $2,262 for CPP, $903 for El, and $9,086 for Income taxes from the employees' cheques. Employees are paid monthly at the end of
company deducted $2,262 for CPP, $903 for El, and $9,086 for Income taxes from the employees' cheques. Employees are paid monthly at the end of each month. Prepare a journal entry for Cheyenne on April 30 to record the payment of the April payroll to employees. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Apr. 30 (To record payment of wages.) eTextbook and Media List of Accounts Debit Prepare a journal entry on April 30 to accrue Cheyenne's employer payroll costs. Assume that Cheyenne is assessed workers' compensation premiums at a rate of 1% per month and accrues for vacation pay at a rate of 4% per month. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts, Round answers to 0 decimal places, e.g. 5,276.) Date Account Titles and Explanation Apr. 30 (To record employer's payroll costs) Debit Credit Credit Cheyenne is assessed workers' compensation premiums at a rate of 1% per month and accrues for vacation pay at a rate of 4% per month. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, e.g. 5,276.) Date Account Titles and Explanation Apr. 30 Debit Credit (To record employer's payroll costs.) eTextbook and Media List of Accounts: On May 15, Cheyenne pays the Receiver General the correct amounts for April's payroll. Prepare a journal entry to record this remittance. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation May 15 (To record remittance of payroll deductions.) eTextbook and Media List of Accounts Debit Credit
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