L. Murray Day Care Services has calculated the following amounts for an employee during the last week
Question:
L. Murray Day Care Services has calculated the following amounts for an employee during the last week of April.
Gross wages.............$3,600
Taxes withheld..............775
CPP contributions.........255
EI contributions..............82
a. Calculate the employee’s net pay.
b. Prepare the journal entries to record payroll for the employee.
Step by Step Answer:
a Gross Pay 3600 Deductions CPP 25500 EI 8200 Income Tax 77500 Net Pay 2...View the full answer
College Accounting A Practical Approach
ISBN: 978-0134166698
13th Canadian edition
Authors: Jeffrey Slater, Debra Good
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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