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please help me with this question Glacier Records has four employees who are paid on the 1st and 15th of each month for the work
please help me with this question
Glacier Records has four employees who are paid on the 1st and 15th of each month for the work they performed in the preceding hall month. At June 30, each employees owed gross pay of 1.200 hut each one must have 10% of their pay withheld for income taxes. Each must also make Canada Pension Plan contributions of 51% of the grous pay and pay Employment Insurance premiums of 1.62% of their grous pay Prepare the payroll jumal entries required to reflect those amounts, wong with Glacier's share of CPP contributions and El premium in Glaciel's June 30 financial statements Prepare the journal entry to record the cost of the payroll on June 30, (Enter debits first, then credits. Enter explanations on the last line of the journal. Round amounts to the nearest cent) Date Accounts and Explanation Debit Credit June 30 Prepare the journal entry to record the related employer's liability on June 30 (Enter debits first, then credits. Enter explanations on the last line of the journal. Round amounts to the nearest cent.) Date Accounts and explanation Debit Credit Jutie 30 are the journal entry to record the accrual of the payroll on June 30. (Enter debits firs Date Accounts and Explanation Debit Cre ne 30 Accounts Receivable Canada Pension Plan Expense Canada Pension Plan Payable Cash bare the jou t.) June 30. (Enter debits Employee Benefits Expense Date Debit Crec June 30 Employee Income Tax Payable Employment Insurance Expense Employment Insurance Payable Salaries Expense Salaries Payable Step by Step Solution
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