Saputo Inc.'s gross salaries for the month ended November 30th were $40,000. Deductions included $2,025...
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Saputo Inc.'s gross salaries for the month ended November 30th were $40,000. Deductions included $2,025 for CPP, \$648 for EI and $9,474 for income tax. The employer's payroll costs were $2,025 for CPP and $907 for EI. Prepare the journal entries to record: i) Payment of salaries on November 30, assuming the deductions will not be remitted to the government until December 1 mark ii) The employer payroll costs on November 30 , assuming they will not be remitted to the government until December. 1 mark iii) The navment to the government on December 15 th of all amounts owed. 1 mark
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