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PLEASE SOLVE THIS AS SOON AS POSSIBLE b) Calculate the employer contributions. Take me to the text Waterkraft rents canoes and other water crafts to
PLEASE SOLVE THIS AS SOON AS POSSIBLE
b) Calculate the employer contributions. Take me to the text Waterkraft rents canoes and other water crafts to campers and hikers. On June 15, 2021, Waterkraft prepared their semi-monthly payroll for their employees. The current CPP rate is \5.45, the current El rate is \1.58, and the appropriate income tax rate is \22. The employer pays half of the health care premium, and the employees pay the other half. Assume the employer contributes \100 toward CPP and 140\\% toward El. Payroll information for June 15, 2021 is listed below. Do not enter dollar signs or commas in the input boxes. Round your answer to 2 decimal places. a) Calculate gross and net pay for each employee. \\( { }^{*} \\) Remember to properly account for the \\( \\$ 3,500 \\) exemption c) Prepare the payroll journal entries for June 15,2021 to record the salaries payable to the employees and accrue the employer contributions. For transactions with more than one debit or more than one credit, enter the debit accounts in alphabetical order followed by credit f) Prepare the entrv to pav the liabilities to the qovernment on Julv 15. 2021Step by Step Solution
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