Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Total ave saved Accounting Cor I - Test 3 Question 5 [20 points] The following information as to earnings and deductions for the two-week pay

image text in transcribed

Total ave saved Accounting Cor I - Test 3 Question 5 [20 points] The following information as to earnings and deductions for the two-week pay period ended May 4, was taken from Vision Consulting Inc.'s payroll records. ion (Click for Exam Inforn a) Fill in the table below assuming that El is calculated at 1.88%, income tax at 19%, and CPP at 4.95% of annual earnings greater than $3,500 and less than $50,100. Please make sure your final answer(s) are accurate to 2 decimal places Examination Employee Gross pay Income taxes Medical insurance CPP El premium Total deductions Net pay Dallas Glynn 800 152 24 epts II - Test 3 - Novembe Linda Champion 950 180.50 28.50 Judith Grimm 550 104.50 16.50 2 Test 2 November 4, 20 Total 2,300 437 69 ER Cepts Il Test 2 - October b) Prepare a journal entry to record the payroll assuming all employees work in the office Enter an appropriate description, and enter the date in the format dd/mmm (i.e. 15/Jan) General Journal Page Gj1 ots II - October 1, 2021 ( Date Account/Explanation Debit Credit Cepts Il Test 1 - October Test 5 - August 15, 20

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Accounting questions

Question

3. Use the childs name.

Answered: 1 week ago