Question

Pearl Industries had a total bi-weekly payroll of $27,200. The entire payroll was subject to CPP (4.95%), EI (1.66%), and income tax withholdings of $3,590. Union dues of $340 were also withheld.

Prepare the journal entries on Pearl’s books to record the wages and salaries paid and the employee payroll deductions. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
(To record the salaries and wages paid and the employee payroll deductions)

Prepare the journal entries on Pearl’s books to record the employer payroll contributions. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
(To record employer contributions)

Prepare the journal entries on Pearl’s books to record the remittance to the Receiver General for Canada for the above-described payroll. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
(To record remittance)

Answer 1

Debit.Credit... 27200 1346 Journal Entries to record the salaries and wages paid and the employee payroll deductions Account Titles and Explanations Wages and Salaries A/C Dr To CPP Payable A/C To El Payable A/C To Income tax Payable A/C To Union Dues A/C To Bank A/C (Being wages and salries paid after the deduction of cpp, El,Income tax and union dues 452 3590 340 21472 Debit Credit Journal Entries To Record Employer Contributions Account Titles and Explanations CPP A/C El A/C To CPP Payable A/C To El Payable A/C (Being Employer Contribution to cpp and El) ........... Debit Credit 2692 904 Journal Entries To Record Remittance Account Titles and Explanations CPP Payable A/C El Payable A/C Income tax Payable A/C Union Dues A/C To Bank A/C (Being Dues Remitted to Receiver general for canada) 3590 340