Sean is paid a semi-monthly salary in the amount of $3750. His employer also pays his life insurance premium of $20/month. His income tax withholding on the current pay is $690. Sean also contributes $5 per pay to his Social Committee. Sean has contributed $1500 to CPP for the year and $600 to El.

How much would entered as the wage expense on a journal entry for this pay?

Sean is paid a semi-monthly salary in the amount of $3750. His employer also pays his life insurance premium of $20/month. His income tax withholding on the current pay is $690. Sean also contributes $5 per ply to his Canada Savings Bonds. Sean has contributed $1500 to CPP for the year and $600 to El.

What is the El expense?

Sean is paid a semi-monthly salary in the amount of $3750. His employer also pays his life insurance premium of $20/month. His income tax withholding on the current pay is $690. Sean also contributes $5 per pay to his Canada Savings Bonds. Sean has contributed $1500 to CPP for the year and $600 to El.

From the question above, what is the amount the employer must expense for life insurance for one pay period?

Sean is paid a semi-monthly salary in the amount of $3750. His employer also pays his life insurance premium of $20/month. His income tax withholding on the current pay is $690. Sean also contributes $5 per pay to his Social Committee. Sean has contributed $1500 to CPP for the year and $600 to El.

Is the Social Committee amount an expense to the employer? Is this true or false?

Answer rating: 100% (QA)

1 Wage Expense on Journal Entry Seans semimonthly salary is 3750 Therefore the ... View the full answer