Question: what is the answer 55) Using the following information, complete the Payroll Register (Payroll Summary) for the week ending January 17, 2019. Assume a tax
what is the answer

55) Using the following information, complete the Payroll Register (Payroll Summary) for the week ending January 17, 2019. Assume a tax rate of 15%, CPP of 4.95% (exemption of 67.30), and EI of 1.88%. (4 POINTS) Employee Type Rate Sara W. Office 400 Howard K. Sales 300 Pinder C. Sales 500 Your Answer here: Gross Income Employee Pay Tax CPP EI Net Sara W. 400 Howard K. 300 Pinder C. 500 56) The Office Salaries Expense account would be used to record A ) net earnings for the office workers. By a credit for the amount owed to the office workers. C) gross earnings for the office workers. Dj a debit for the amount of net pay owed to the office workers. 57) What liability account is reduced when the employees are paid? A) Income Tax Payable, CPP Payable, El l'avable B) Wages and Salaries Expense C) Wages and Salaries Payable D)) Payroll Taxes Payable 58) What type of account is CPP Payable? A) Asyet B) Liability C Revenue D) Expense
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
