Question

QUESTIONS (16 marks) 4. A company's 18 sales personnel carned salaries of $22.000 during the period March 5-10, all of which were subject to 4.959 CPP and 1.669 EL. All personnel are entitled to 2 weeks paid annual vacation. In addition, the company has agreed with its employees to withhold the following amounts: $900 for hospital insurance, $4.400 for federal and provincial income taxes, and $180 for union dues. Prepare the March 10 general journal entry to record the payroll (9 marks). Show calculation for marks 22000 11089 1365-2 sales salaries earned To CPP payable то Е1 разаblo. To hospital insurance lled 900 4400

Answer 1

Part A:-

Date	particular	Debit	Credit
10 march	sales salaries expenses	$22000
	To CPP payable ($22000*4.95%)		$1089
	To employee's income tax payable		$4400
	To employee's hospital insurance payable		$900
	To employeese union due payable		$180
	To EI payable ($22000*1.66%)		$365
	To salaries payable		$15066
	( Being to record payroll)