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Question 7: (12 marks) Haines, Inc. prepared the following payroll summary for the current month, April 2027 CPP is deducted at 5.75% and El is
Question 7: (12 marks) Haines, Inc. prepared the following payroll summary for the current month, April 2027 CPP is deducted at 5.75% and El is deducted at 1.58% Haines contributes to a private pension pian on behalf of its employees in the amount of 9% of gross pay A vacation pay accrual is also made in the amount of 4% of the gross pay. Required: Prepare the journal entries to record: a) The month's payroll register. b) The cost of employee benefits for CPP and EI c) The cost of employee benefits for the private pension plan and vacation pay
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