In the year 2023, Albert earned $100,000 per annum and contributed EI and CPP in Alberta at the max amount. Since Albert was a full-time employee his company matched EI at 1.4% and CPP at 1:1. Assume claim code 1 for federal and provincial tax deductions.

Step 1: Use Payroll Table T4032AB for a monthly pay period CRA link EI, CPP, Income Tax

Step 2: Calculate Employers matching for EI and CPP

Prepare the following payroll journal entries:

Payroll Withholdings

Payroll Remittances