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QS AI-2 Preparing payroll journal entries LO2 Trax Ltd. has six employees, each of whom earns $3,000 per month. Income taxes are 20% of gross
QS AI-2 Preparing payroll journal entries LO2 Trax Ltd. has six employees, each of whom earns $3,000 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. QS AI-3 Paying employees LO2 Use the information in QS AI-2 to record the payment of the wages to the employees for March.
QS AI-2 Preparing payroll journal entries LO2
Trax Ltd. has six employees, each of whom earns $3,000 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.
QS AI-3 Paying employees LO2
Use the information in QS AI-2 to record the payment of the wages to the employees for March.
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