Assuming a tax rate of 25%, complete the payroll register below: Rate Minimum Maximum CPP 5.25% $3,500
Fantastic news! We've Found the answer you've been seeking!
Question:
Assuming a tax rate of 25%, complete the payroll register below:
Rate | Minimum | Maximum | |
CPP | 5.25% | $3,500 | $58,700 |
EI | 1.58% | $0 | $54,200 |
Employee | Gross Pay | CPP | EI Premium | Income Tax | Medical Ins. | United Way | Total Deductions | Net Pay |
Cristo | 2,900 | 75.00 | 50.00 | |||||
Alonzo | 2,400 | 75.00 | 100.00 | |||||
Mortel | 3,000 | 75.00 | 0.00 | |||||
Peter | 2,500 | 75.00 | 60.00 | |||||
Totals |
Prepare the journal entries to record:
(a) employee payroll; and
(b) employer payroll costs
Expert Answer:
Related Book For 
Posted Date:
