ecord the payroll, payroll deductions, and employer payroll costs given the following information about an...
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Accounting
ecord the payroll, payroll deductions, and employer payroll costs given the following information about an Ontario company at March 31: LOADING...(Click the icon to view the payroll information.) Begin by recording the payroll for the period. (Record debits first, then credits. Exclude explanations from journal entries.)
Gross pay $190,000
Employee withheld income tax 22,800
Employee withheld CPP 9,300 Employee withheld EI 3,500
Union dues 2,945
Registered Retirement Savings Plan (RRSP) contribution 10,000
Pension plan paid by employer only = 1.0 percent of gross pay
Begin by recording the payroll for the period. (Record debits first, then credits. Exclude explanations from journal entries.)
General Journal
Date
Accounts
Debit
Credit
Mar
31
Salaries Expense
190,000
Employee Income Tax Payable
22,800
Canada Pension Plan Payable
9,300
Employment Insurance Payable
3,500
RRSP Contribution Payable
10,000
Union Dues Payable
2,945
Salaries Payable
141,455
Next, record the employer payroll costs.
General Journal
Date
Accounts
Debit
Credit
Mar
31
Answer & Explanation
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