Question
Prepare the following Journal entries in relation to this pay period register. 5 marks each (25 marks total ) August 4 th Pay date Bi-weekly
- Prepare the following Journal entries in relation to this pay period register. 5 marks each (25 marks total)
| August 4th Pay date Bi-weekly |
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| Earnings | CPP | EI | Tax | Union dues | Company paid benefits | Net pay |
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| Franca | Susan | 2,300.00 | 150.00 | 70.00 | 325.00 | 7.00 | 55.00 |
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| Tabour | Brett | 2,400.50 | 120. | 55.00 | 250.00 | 7.00 | 55.00 |
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| Storm | Jessica | 2,100.30 | 125.75 | 65.50 | 305.00 | 5.00 | 45.00 |
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| Silva | Andrew | 2,225.00 | 110.00 | 70. | 325.00 | 7.00 | 0 |
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| Catulli | Rick | 1,175.00 | 0 | 42.00 | 125.50 | 5.00 | 35.00 |
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| Lang | Peter | 1,990.00 | 115.00 | 50.00 | 350.00 | 0 | 35.00 |
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- Prepare the payroll register Journal entry
- Prepare the vacation accrual entry at 4% assuming all earnings are vacationable earnings.
- Record the journal entry to record the Company expenses for Source deductions, check to be issued at a later date.
- Record the journal entry for company benefits
- Record the journal entry to issue payment to the Canada Revenue Agency for source deductions
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
