Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please answer asap! Question 4 (8 marks) ABC Inc. pays its employees at the end of every month. In February 2023, employees earned salaries totaling
please answer asap! Question 4 (8 marks) ABC Inc. pays its employees at the end of every month. In February 2023, employees earned salaries totaling $30,000. Employee income taxes of $4,500, Canada Pension Plan (CPP) of $1,500, and Employment Insurance (EI) of $600 were withheld from this amount. The net pay was directly deposited into the employees' bank accounts. (Note: Employer CPP equals employee CPP. Employer El equals 1.4 times employee El.) Question 4 Part 1: Prepare the journal to record February's payroll (do not include piryroll taxes) 11 Part 2: Prepare the journal to record the payroll taxes for February's pavroll. 12 13 14 15 16 17 18 19 20 21 27
please answer asap!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started