The total payroll of Lyndon Inc. was $ 230,000. Income taxes withheld were $ 55,000. The EI rate is 2% for the employee and 1.4 times the employee premium for the employer. The CPP/QPP contributions are 3% for both the employee and employer.

Required (Round all values to the nearest dollar, if necessary)

a) Prepare the journal entry for the salaries and wages paid. Salaries and wages are to be paid in the future.

b) Prepare the entry to record the employer payroll taxes.

c) Prepare the entry to record the payment to the government.

Answer rating: 100% (QA)

a b c Date Date Date Account Titles and Explanations Debit Cr... View the full answer