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Given the following information from the payroll register, calculate the net pay and prepare a journal entry for the month of February for Parker Pools.

Given the following information from the payroll register, calculate the net pay and prepare a journal entry for the month of February for Parker Pools.

Salaries and wages 329,044.90
Bonus 11,464.74
Canada Pension Plan contributions 15,709.85
Employment Insurance premiums 6,400.78
Income tax 68,101.93
Registered pension plan contributions 9,932.66
Union dues $1,995.00

Charitable donations

1,080.00

Step 1-

Will the entry for salaries and wages be a debit or a credit?

Step 2-

What amount should be entered for salaries and wages?

STEP 3

Will the entry for Bonus payment be Debit or credit?

Step 4

What amount should entry in bonus payment?

Step 5-

Will the entry for the Canada Pension Plan contributions withheld from employees be a debit or credit?

Step 6-

What amount should be entered for Canada Pension Plan contributions withheld from employees?

Step 7-

Will the entry for Employment Insurance premiums withheld from employees be a debit or credit?

Step 8-

What amount should be entered for Employment Insurance withheld from employees?

Step 9-

Will the entry for income tax withheld from employees be a debit or credit?

Step 10-

What amount should be entered for income tax withheld from employees?

Step 11-

Will the entry for Registered Retirement Savings Plan contributions withheld from employees be a debit or credit?

Step 12-

What amount should be entered for Registered Retirement Savings Plan contributions withheld from employees?

Step 13-

Will the entry for union dues withheld from employees be a debit or credit?

Step 14-

What amount should be entered for union dues withheld from employees?

Step 15-

Will the entry for charitable donations withheld from employees be a debit or credit?

Step 16-

What amount should be entered for charitable donations withheld from employees?

Step 17-

Will the entry for net salaries and wages owing to employees be a debit or credit?

Step 18-

What amount should be entered for net salaries and wages owing to employees?

Step 19-

Enter the total debits.

Step 20-

Enter the total credits.

.

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