The payroll of Austin Corp. for September 2011 is as follows: Total payroll was $485,000. Pensionable (CPP)
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Instructions
(a) Prepare the necessary journal entries to record the payroll if the wages and salaries paid and the employer payroll taxes are recorded separately.
(b) Prepare the entries to record the payment of all required amounts to the CRA and to the employees' union.
(c) For every dollar of wages and salaries that Austin commits to pay, what is the actual payroll cost to the company?
(d) Discuss any other costs, direct or indirect, that you think would add to the company's costs of having employees.
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Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
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