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Ontario Records has five employees who are paid on the tel and 15th of each month for the work they performed in the preceding
Ontario Records has five employees who are paid on the tel and 15th of each month for the work they performed in the preceding half-month Al June 30, sach employee is owed gross pay of $2.250, but each one must have 10% of their pay withheld income taxes. Each must also make Canada Pension Plan contributions of 5.1% of their gris pay and pay Employment Insurance premiums of 1.62% of their gross pay. The following entries were recorded the the month of J Click on the icon to view the journal entries.) Show what Ontario would report on its swance sheet at June 30 and on its income statement for the month ended on that data Prepare the latility section of Ontario Reconds balance sheet at June 30 (Leave any unused cells bank. Enter amounts to the nearest cent) Ontario Recorde Balance Sheet partia Liabilities Current Liabilities At June 30 Amounts Prepare the partial income statement sheet for the month ending June 30 (Leave any unused calls blank. Enter amounts to the nearest cent.) Ontario Recorde Income Statement (partial) For the Munth Ended June 201 Expenses
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