Question: Question 10 [10 points] On May 3, at the end of a pay period. Velor Inc 's Payroll Register showed that its 32 employees had
Question 10 [10 points] On May 3, at the end of a pay period. Velor Inc 's Payroll Register showed that its 32 employees had earned $21 800 of sales salaries and $5.600 of office salaries Withholdings from the employees salaries were to include $515 of El, S1,144 of CPP $5.114 of income taxes, 5792 of medical insurance, and $392 of union dues. Prepare journal entries to record the following a May 3 payroll Velor inc's expenses resulting from the May 3 payroit Assume the employer's El and CPP contributions are at the rate of 14 times and equivalent to the employee's portion respectively Enter the transaction letter as the description when entering the transactions in the journal Dates must be entered in the format ddimmm (.e January 15 would be 15 Jan) General Journal Page 1 Account Explanation F Debt Credit Dale ta +
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
