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Grant Teiman is paid $980 for a 40 hour workweek and time and a half for hours worked above 40. Teiman worked 50 hours during
Grant Teiman is paid $980 for a 40 hour workweek and time and a half for hours worked above 40. Teiman worked 50 hours during the first week of February. Teiman is single and his income tax withholding is 24 percent of total pay. His only payroll deductions are taxes withheld, CPP of 4.95 percent, and El of 1 66 percent. Teiman's employer, Jones Ski Corp., pays all the standard payroll expenses plus benefits for employee pensions (8 percent of gross pay), BC health insurance (S14 per employee per week), and disability insurance ($2 per employee per week). Assume February has four pay periods (Click the icon to view payroll information.) Joumalize for Jones Ski Corp. the following expenses related to the employment of Grant Teiman on February 7 a. Salary expense with payment to the employee b. Benefits c. Employer payroll expenses (Round all amounts to the nearest cent.) a. First, make the journal entry for the salary expense (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Accounts Debit Credit Feb 7 b. Next, make the journal entry to record the benefits expense Journal Entry Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. Srant Teiman is paid $980 for a 40-hour workweek and time and a half for hours worked above 40. Teiman worked 50 hours during the first week of February. Te ingle, and his income tax withholding is 24 percent of total pay. His only payroll deductions are taxes withheld, CPP of 4.95 percent, and El of 1.66 percent. Teim mployer, Jones Ski Corp pays all the standard payroll expenses plus benefits for employee pensions (8 percent of gross pay), BC health insurance ($14 per em er week), and disability insurance ($2 per employee per week). Assume February has four pay periods. i (Click the icon to view payroll information.) ournalize for Jones Ski Corp the following expenses related to the employment of Grant Teiman on February 7 . Salary expense with sumant to the monas Benefits . Employer payroll ex Payroll information Round all amounts to . First, make the journ 367 50 Straight-time pay Employee income tax withheld CPP withheld 980.00 Overtime pay 323.40 CPP-employer's share 66.70 EI-employer's share 22.37 Pension 66 70 -eb 31.32 7 El withheld 107.80 Health insurance 14.00 Disability insurance 200 Print Done Next, make the journal entry to record the benefits expense Journal Entry N Accounts Debit Credit Grant Teiman is paid $980 for a 40-hour workweek and time and a half for hours worked above 40. Teiman worked 50 hours during the fir 4.95 percent, and El of 1.66 percent. Teiman's employer, Jones Ski Corp., pays all the standard payroll expenses plus benefits for employ= February has four pay periods. (Click the icon to view payroll information.) Journalize for Jones Ski Corp. the following expenses related to the employment of Grant Teiman on February 7 a. Salary expense with payment to the employee b. Benefits c. Employer payroll expenses (Round all amounts to the nearest cent.) b. Next, make the journal entry to record the benefits expense. Journal Entry Accounts Debit Credit Feb 7 c. Now, make the journal entry for the employer payroll expenses. Journal Entry Accounts Debit Credit Feb 7 Choose from any list or enter any number in the input fields and then continue to the next
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