Martin is paid $52,000 a year paid on a weekly basis. On his most recent pay he had $250 withheld in Income Tax, $48.97 for CPP and $15.80 for EI. He also has requested an additional $25.00 in tax be deducted each pay. Martin is allowed to buy work boots twice a year, required for his job, to a yearly maximum of $300.00. He gave a receipt to his employer for $187.50 for his new boots this pay.

Please use this information to answer the following questions #37 to question #42.

Would the net pay be recorded as a debit or credit?

Select one:

a. Debit

b. Credit

What is the amount of the CPP liability?

What is the total tax expense?

What is the EI liability you would record?

What is the net pay recordable in your journal entry?