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Renyk Company's payroll costs and fringe benefit expenses include the normal CPP and El contributions, retirement fund contributions of 8% of total earnings, and health
Renyk Company's payroll costs and fringe benefit expenses include the normal CPP and El contributions, retirement fund contributions of 8% of total earnings, and health insurance premiums of $150 per employee per month. 53 Bombier $56,300 Antonio 64,000 Jin 61,000 King 54,200 Head 72,800 Total $308,300 1. Given the above list of employees' projected 2021 annual salaries, calculate the employer's contribution of CPP, EI, Retirement Fund, and Health Insurance made by Renyk Company. (Round the final answers to 2 decimal places.) Use 1.58% for El and 5.45% for CPP contributions. Max El contributions are $889.54 and max CPP contributions are $3,166.45 2. Prepare the general journal entry to record the payroll. Assume all employees work in the office. 3. Prepare a journal entry to record the employer's share of payroll deductions. Renyk Company's payroll costs and fringe benefit expenses include the normal CPP and El contributions, retirement fund contributions of 8% of total earnings, and health insurance premiums of $150 per employee per month. 53 Bombier $56,300 Antonio 64,000 Jin 61,000 King 54,200 Head 72,800 Total $308,300 1. Given the above list of employees' projected 2021 annual salaries, calculate the employer's contribution of CPP, EI, Retirement Fund, and Health Insurance made by Renyk Company. (Round the final answers to 2 decimal places.) Use 1.58% for El and 5.45% for CPP contributions. Max El contributions are $889.54 and max CPP contributions are $3,166.45 2. Prepare the general journal entry to record the payroll. Assume all employees work in the office. 3. Prepare a journal entry to record the employer's share of payroll deductions
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