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Prepare journal entries on teal books to record remittance

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Reference no: EM132772567

Question - Teal Industries had a total bi-weekly payroll of $29,200. The entire payroll was subject to CPP (4.95%), EI (1.66%), and income tax withholdings of $3,854. Union dues of $365 were also withheld.

Required -

A. Prepare the journal entries on Teal's books to record the wages and salaries paid and the employee payroll deductions.

B. Prepare the journal entries on Teal's books to record the employer payroll contributions.

C. Prepare the journal entries on Teal's books to record the remittance to the Receiver General for Canada for the above-described payroll.

Reference no: EM132772567

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