On January 13, at the end of the second weekly pay period of the year, a company
ID: 2606012 • Letter: O
Question
On January 13, at the end of the second weekly pay period of the year, a company’s payroll register showed that its 27 employees had earned $21,070 of sales salaries and $6,830 of office salaries. Assume withholdings from the employees’ salaries were to include $524.52 of EI, $1,291.09 of CPP, $5,742 of income taxes, $990 of hospital insurance, and $480 of union dues.
Required: 1. Prepare the General Journal entry to record the January 13 payroll. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places.)
2. Prepare a General Journal entry to record the employer’s payroll expenses resulting from the January 13 payroll. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places.)
Explanation / Answer
1.
2.
Date Accounts Titles and explanations Debit $ Credit $ Payroll A/c 27900 F. Income Tax with-held 5742 Canada Insurance Plan 1291.09 Employmenr Insurance 524.52 Medical Insurances 990 Union Dues 480 Payroll Expenses Payable 18872.39