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Sally Smith earned a salary of $66,000 during the 2019 calendar year. Employment Insurance (EI) deductions for the year were $858.22. Canadian Pension Plan (CPP)
Sally Smith earned a salary of $66,000 during the 2019 calendar year. Employment Insurance (EI) deductions for the year were $858.22. Canadian Pension Plan (CPP) deductions for the year were $2,593.80. During the year, $23,000 was deducted from her salary for income taxes.
Instructions:
a)Prepare a journal entry to record the payment of Sally Smith's total salary for the year. (2.5 marks)
b)Prepare a journal entry to record the employer's benefits expense related to Sally Smith's salary for the year. (1.5 marks)
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