Boxcom Company had a total bi-weekly payroll of $ 90,000. Theentire payroll was subject to CPP (4.95%), EI (1.66%), and incometax withholdings of $ 11,880. Union dues of $ 1,125 and Healthinsurance premiums of $ 2,850 were also withheld. Boxcom will matchemployee CPP and 1.4 times employees EI
Instructions
- Prepare the journal entries to record the employeewages/salaries and payroll deductions
- Prepare the journal entries to record the employer payrollcontributions
- Prepare the journal entries to record the remittance to theReceiver General (Canada Revenue Agency)
