The following information is taken from the payroll records of Cranberry Construction Ltd, for employee Richard...
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The following information is taken from the payroll records of Cranberry Construction Ltd, for employee Richard Racker during the week of June 12-18, 2021. Total hours worked Monday-5.5 hours Tuesday-8.5 hours Wednesday-9 hours Thursday 10 hours Friday-7 hours Hourly Rate - $18.00 Regular work day is 8 hours per day. Any daily excess is paid at a rate of time-and-a-half. Deductions: Employment Insurance (El) Canada Pension Plan (CPP) Income Tax Company Pension Health Plan $35.49 $19.35 $131.99 5% of gross wages $29.50 REQUIRED: General journal entries dated June 18, 2021: (1) Record the payroll for the week (ii) Record the employer's contribution to payroll. Cranberry Construction Ltd. doubles the employee's contributions to company pension and pays an equal portion the company health plan. (i) Recording the remittance to the Canada Revenue Agency (iv) Recording the remittance of the company pension to the Royal Bank of Canada (v) Record the remittance of the health insurance plan to Sun Life Insurance Co. The following information is taken from the payroll records of Cranberry Construction Ltd, for employee Richard Racker during the week of June 12-18, 2021. Total hours worked Monday-5.5 hours Tuesday-8.5 hours Wednesday-9 hours Thursday 10 hours Friday-7 hours Hourly Rate - $18.00 Regular work day is 8 hours per day. Any daily excess is paid at a rate of time-and-a-half. Deductions: Employment Insurance (El) Canada Pension Plan (CPP) Income Tax Company Pension Health Plan $35.49 $19.35 $131.99 5% of gross wages $29.50 REQUIRED: General journal entries dated June 18, 2021: (1) Record the payroll for the week (ii) Record the employer's contribution to payroll. Cranberry Construction Ltd. doubles the employee's contributions to company pension and pays an equal portion the company health plan. (i) Recording the remittance to the Canada Revenue Agency (iv) Recording the remittance of the company pension to the Royal Bank of Canada (v) Record the remittance of the health insurance plan to Sun Life Insurance Co.
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To record the general journal entries for the week of June 1218 2021 for Richard Racker at Cranberry Construction Ltd well need to break it down into ... View the full answer
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
Posted Date:
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