Refer
to the data for Whirled Corporation in BE13-11. 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. Prepare the journal entry to record
Whirled Corporation’s payroll-related expenses.
IN
BE, Whirled Corporation’s weekly payroll of $23,000 included employee income
taxes withheld of $3,426, CPP withheld of $990, EI withheld of $920, and health
insurance premiums withheld of $250. Prepare the journal entries to record
Whirled’s payroll.
|
Payroll Tax Expense.....................
|
2,278
|
|
|
EI
Premiums Payable ($920 X 1.4)...
|
|
1,288
|
|
CPP
Contributions Payable..........
|
|
990
|
