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( I need the answer as soon as possible . Please !!!) College Maxs gross payroll for Feb 16-28 was $435,000. The company deducted $22,838
(I need the answer as soon as possible . Please !!!)
College Maxs gross payroll for Feb 16-28 was $435,000. The company deducted $22,838 for CPP, $6,873 for EI, and $87,261 for income tax from the employees pay. College Maxs payroll costs for the period were $22,838 for CPP and $9,622 for EI.
College Max paid payroll on March 6. On March 15, College Max remitted payroll (source) deductions to CRA.
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Prepare the journal entries to record the above transactions. Explanations are not required.
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