Encore Records has two employees who are paid on the 1st and 15th of each month for the work they performed in the preceding half-month. At February 28, each employee is owed gross pay of $1,000, but each one must have 10% of their pay withheld for income taxes. Each must also make Canada Pension Plan contributions of 5.1% of their gross pay and pay Employment Insurance premiums of 1.62% of their gross pay. The following entries were recorded for the month of February:

Show what Encore would report on its balance sheet at February 28 and on its income statement for the month ended on that date.

Encore Records has two employees who are paid on the stad 15th of each month for the work they performed in the preceding month. A February 28, cachemployee is owed gross Day of S1,000, but each one must have 10% of the pay with for income taxes Ench must make Canada Pension Portion of 1 or gross payday Employmences offer pay. The following is were recorded for the month of February Click on the icon to view the journal entre) Show where report on its balance sheet Parnis nomen for me mended on the Prepare the lately section of Encore Record bare hot tretruny 21 (we any unused celebrannter amounts to the nearesten) Encore Records Balance sheet on Abruary 20 Liabilities Current Labs