Problem
The June 18, 2022, payroll register is summarized below. The company matches the employee's payments for the retirement program and vacation pay is accrued at 8%. Record the following:
I. What journal entries would be required to record this payroll register and employer expenses relating to this pay run?
Office Salaries
|
Hairdresser Salaries
|
Total Earnings
|
EI Premium
|
CPP Premium
|
Income Tax
|
Retirement program
|
Charitable donations
|
6,500.00
|
9,850.00
|
16,350.00
|
258.33
|
883.74
|
4,905.00
|
654.00
|
120.00
|
Note: Assume any health taxes and WCB premiums will already be recorded.
II. Prepare the journal entry to send the remittances to the CRA for the above June 18th pay period on July 15th.