Reference no: EM132218484

Question: On January 31, 2017, Sunland Company had the following payroll liability accounts in its ledger: Canada Pension Plan payable $7,550 Life insurance payable $1,000 Disability insurance payable 1,170 Union dues payable 1,480 Employment Insurance payable 3,640 Vacation pay payable 20,290 Income tax payable 15,270 Workers' compensation payable 4,330 In February, the following transactions occurred: Feb. 4 Sent a cheque to the union treasurer for union dues. 7 Sent a cheque to the insurance company for the disability and life insurance. 13 Issued a cheque to the Receiver General for the amounts due for CPP, EI, and income tax. 20 Paid the amount due to the workers' compensation plan. 28 Completed the monthly payroll register, which shows gross salaries $92,600; CPP withheld $3,960; EI withheld $1,695; income tax withheld $16,730; union dues withheld $1,660; and long-term disability insurance premiums $1,430. 28 Prepared payroll cheques for the February net pay and distributed the cheques to the employees. 28 Recorded an adjusting journal entry to record February employee benefits for CPP, EI, workers' compensation at 5% of gross pay, vacation pay at 4% of gross pay, and life insurance at 1% of gross pay. Journalize the February transactions and adjustments.

Calculate the balances in each of the payroll liability accounts at February 28, 2017.