Question
Marigold Industries had a total bi-weekly payroll of $33,600. The entire payroll was subject to CPP (4.95%), EI (1.66%), and income tax withholdings of $4,435.
Marigold Industries had a total bi-weekly payroll of $33,600. The entire payroll was subject to CPP (4.95%), EI (1.66%), and income tax withholdings of $4,435. Union dues of $420 were also withheld.
Prepare the journal entries on Marigold's books to record the wages and salaries paid and theemployeepayroll deductions.(Round answer to 0 decimal places, e.g. 5,275. 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 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
(To record the salaries and wages paid
and the employee payroll deductions)
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare the journal entries on Marigold's books to record the employer payroll contributions.(Round answer to 0 decimal places, e.g. 5,275. 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 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
(To record employer contributions)
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare the journal entries on Marigold's books to record theremittanceto the Receiver Generalfor Canadafor the above-described payroll.(Round answer to 0 decimal places, e.g. 5,275. 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 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
(To record remittance)
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