Question
QS AI-2 Preparing payroll Journal entries ig LO2 Trax Ltd. has six employees, each of whom earns S3.000 per month. Income taxes are 20% of
QS AI-2 Preparing payroll Journal entries ig LO2 Trax Ltd. has six employees, each of whom earns S3.000 per month. Income taxes are 20% of gross pay and the company deducts EI and CPP. Prepare the March 31 journal entry to record payroll for the month. Use the information in QS AI-2 to record the payment of the wages to the employees for March.
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Financial Accounting Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
1111464936, 978-1111464936
