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Peter Tomach works for a manufacturing company He earns $600 a week for a 40-hour week and time and a half for anything over 40
Peter Tomach works for a manufacturing company He earns $600 a week for a 40-hour week and time and a half for anything over 40 hours per week. During the first wook of the year, Peter worked 49 hours. The income tax withholdings are 15% of gross earnings Canada Pension Plan deductions are 4.95% of gross earnings and Employment Insurance deductions are 1 68% of gross earnings Ignore the basic Canada Pension Plan exemption The entry to record the employer's portion of Canada Pension Plan expense includes a OA. credit to Salary Payable to Employees OB. debit to Salary Expense OC. credit to Employee Benefits Expense OD. credit to Canada Pension Plan Payable
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