Question
The total payroll of Lyndon Inc. was $ 230,000. Income taxes withheld were $ 55,000. The EI rate is 1.66% for the employee and 1.4
The total payroll of Lyndon Inc. was $ 230,000. Income taxes withheld were $ 55,000. The EI rate is 1.66% for the employee and 1.4 times the employee premium for the employer. The CPP/QPP contributions are 4.95% for both the employee and employer
Required: (Round all values to the nearest dollar, if necessary)
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Prepare the journal entry to accrue salaries and wages.
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Prepare the journal entry to record the payment to the employees.
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Prepare the entry to record the employer payroll taxes.
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Audit Accountability And Government
Authors: Fidelma White, Kathryn Hollingsworth
1st Edition
0198262329, 978-0198262329
