Camparound Canada has 24 employees who are paid on a monthly basis. For the most recent...

 

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Camparound Canada has 24 employees who are paid on a monthly basis. For the most recent month, gross earnings were $68,000 The income tax withholdings are 15% of gross earnings Canada Pension Plan deductions are 4 95% of gross earnings and Employment Insurance deductions are 1 88% of gross earnings All employees have $15 per month withheld for charitable contributions. Ignore the basic Canada Pension Plan exemption The entry to record salary expense includes a OA. debit to Employee Income Tax Payable for $10,200.00 OB. debit to Employment Insurance Payable for $1,742.16 OC. credit to Salary Expense for $68,000.00 OD. credit to Canada Pension Plan Payable for $3,366 00 Camparound Canada has 24 employees who are paid on a monthly basis. For the most recent month, gross earnings were $68,000 The income tax withholdings are 15% of gross earnings Canada Pension Plan deductions are 4 95% of gross earnings and Employment Insurance deductions are 1 88% of gross earnings All employees have $15 per month withheld for charitable contributions. Ignore the basic Canada Pension Plan exemption The entry to record salary expense includes a OA. debit to Employee Income Tax Payable for $10,200.00 OB. debit to Employment Insurance Payable for $1,742.16 OC. credit to Salary Expense for $68,000.00 OD. credit to Canada Pension Plan Payable for $3,366 00

Answer rating: 100% (QA)

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