Reference no: EM132749453

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.

A. Prepare the journal entries on Teal's books to record the wages and salaries paid and the employee payroll deductions. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

B. Prepare the journal entries on Teal's books to record the employer payroll contributions. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

C. Prepare the journal entries on Teal's books to record the remittance to the Receiver General for Canada for the above-described payroll. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)