The Ripcord Parachute Club of Burlington employs three people and pays them on a weekly basis. Payroll data for the four weeks in February 2012 are shown below:
Week 1€”February

Week 2€”February

Week 3€”February

Week 4€”February

Assumptions
Employees pay 100% of the cost of long-term disability (LTD). Employees contribute just over 5% of their salary to the pension plan; the employer contributes 6% of the employees€™ salary to the plan. Medical cost is split 50/50 by employees and employer. All payroll-related deductions are paid on the 15th of March, 2012.

Required
a. While recording the payroll journal in February 2012, the bookkeeper for the Ripcord Parachute Club did not record any expense for employee benefits. Give the four journal entries that should be made for the month to record this expense.
b. Post the entries from the payroll journal and the entries in a. above to the T accounts shown below. (You may ignore the accounts that are not shown.)

c. List the cheques and the amounts of the cheques that will be issued on March 15, 2009, for the February 2009 payroll.

Transcribed Image Text:

Deductions Net Chą. Employee Sx CPP EI LTD Pen. Med. Pay No. Phil Lesage 975 130 45 17 18 49 18 698 205 Linda Barry 900 145 41 16 18 46 12 622 206 Howard Post 1,125 204 52 19 18 59 18 755 207 Deductions Net Chg Employee SalTax CPP EI LTD Pen. Med. Pay No. Phil Lesage975 130 45 17 18 49 18 698 215 Linda Barry 950 156 44 16 18 4812 656 216 Howard Post 1,125 204 52 19 18 59 18 755 217 Deductions Net Chq Employee Sal. Tax CPP EI LTD Pen. Med. Pay No. Phil Lesage 975 130 45 17 18 49 18 698 221 Linda Barry 90 156 44 16 18 48 12 656 222 Howard Post 1,185 216 55 21 18 61 18 796 223 Deductions Net Chq. Employee Sal.Tax CPP EI LTD Pen. Med. Pay No. Phil Lesage ,000 148 46 17 18 51 18 702 244 Linda Barry 950 125 44 16 18 48 12 687 245 Howard Post 1,185 206 55 2 18 61 18 806 246 Income Tax Payable CPP Payable El Payable Pension Plan Liability Medical Plan Payable LTD Payable Employee Benefits Expense Wage Expense