Question
TealIndustries had a total bi-weekly payroll of $29,200. The entire payroll was subject to CPP (4.95%), EI (1.66%), and income tax withholdings of $3,854. Union
TealIndustries had a total bi-weekly payroll of $29,200. The entire payroll was subject to CPP (4.95%), EI (1.66%), and income tax withholdings of $3,854. Union dues of $365were also withheld.
A. Prepare the journal entries onTeal's books to record the wages and salaries paid and theemployeepayroll deductions.(Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered.Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
B. Prepare the journal entries onTeal's books to record the employer payroll contributions.(Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered.Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
C. Prepare the journal entries onTeal's books to record theremittanceto the Receiver Generalfor Canadafor the above-described payroll.(Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered.Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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