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Problem Al-3B Journal entries-payroll taxes, and employee fringe benefits LO2, 3, 4 A company showed the following information in its payroll register for the week
Problem Al-3B Journal entries-payroll taxes, and employee fringe benefits LO2, 3, 4 A company showed the following information in its payroll register for the week ended March 16, 2018: Deductions Pay Distribution SI Premium Income Taxes Medical Insurance Union Dues Sales Salaries Expense 1,450.00 Office Salaries Expense Shop Salaries Expense CPP 24.07 32.87 29.22 28.55 324.35 507.35 428.75 412.70 47.50 52.50 25.00 35.00 68.44 94.68 83.79 81.81 90.00 105.00 127.50 78.75 554.30 792.40 694.26 636.81 Net Pay 895.64 1,187.60 1,065.74 1,083.19 1,760.00 1.760,00 1,720.00 114.71 1673.15 160.00 328.72 401.25 2,677.83 4,232.17 1,450.00 1,720.00 3,740.00 -30 APPENDIXI Payroll Liabilities 1. Prepare a general journal entry to record the payroll register information. 2. Prepare a general journal entry to record the employer's payroll expenses resulting from the payroll. 3. Prepare general journal entries to accrue employee fringe benefit costs for the week. Assume that the company matches the employees payments for medical insurance and contributes an amount equal to 8% rate of 6% of the wages and salaries earned. The company estimates that all employees eventually will be of each employee's gross pay to a retirement program. Also, each employee accrues vacation pay at the paid their vacation pay. mations 102, 3, 4
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