Acompany's gross salaries amount to $5600 for the week ended April 6. The following amounts are deducted from the employees vages: CPP of $300, El of $95, income tax of $2220, and health insurance of $475. In addition, the company accrues employer's payroll costs on the same day as it records payroll Assume vacation days are accrued at an average rate of 4% of the gross payroll ane hat the health insurance is 100% funded by the employees. How much is the debit to Employee Benefits Expense? $1132 $657 $619 Ⓒ$870

Acompany's gross salaries amount to $5600 for the week ended April 6. The following amounts are deducted from the employees vages: CPP of $300, El of $95, income tax of $2220, and health insurance of $475. In addition, the company accrues employer's payroll costs on the same day as it records payroll Assume vacation days are accrued at an average rate of 4% of the gross payroll ane hat the health insurance is 100% funded by the employees. How much is the debit to Employee Benefits Expense? $1132 $657 $619 Ⓒ$870

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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