Prepare journal entry to record novak payroll-relate expense

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Novak Inc.'s weekly payroll of $18,000 included employee income taxes withheld of $2,635, Canada Pension Plan (CPP) withheld of $775, and Employment Insurance (EI) withheld of $360. Assume now that the employer is required to match every dollar of the CPP contributions of its employees and to contribute 1.4 times the EI withholdings.

Problem 1: Prepare the journal entry to record Novak's payroll-related expenses.

Reference no: EM132907755

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