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Fish Packers Inc. (FPI) had the following transactions: Dec. 31 Fish Packers Inc announced a bonus earned by the employees during the year, which amounted

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Fish Packers Inc. (FPI) had the following transactions: Dec. 31 Fish Packers Inc announced a bonus earned by the employees during the year, which amounted to $450,000. The source deductions on the bonus earned were CPP of $22.275, which FPI matched; El of $7,335, which it matched at 1.4 times, and income taxes of $112.500. In addition, FPI paid Workers' Compensation Board of British Columbia premiums of 6.54% of gross wages. Paid the wages recorded on December 31 Made the remittance to the government related to the December 31 payroll. Feb. 10 Feb 24 Determine the amount of the employees net wages. $ Net wages Prepare the journal entries necessary to record these transactions. (Enter debit entries first followed by credit entries. 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 for the amounts.) Date Account Titles and Explanation Debit Credit (To record wages payable to employees) (To record employer's liabilities) (Payment to the WCB of BC) Feb. 24 (Payment to the government)

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