Given the following information from the payroll register, calculate the net pay and prepare a journal entry for the month of February for Northern Publishers. Salaries and wages $316,458.52 $10,538.43 Bonus Canada Pension Plan contributions $15,087.14 Employment Insurance premiums $6,147.54 Income tax $65,399.39 Registered Retirement Savings Plan contributions $9,493.76 Union dues $1,880.00 Charitable donations $935.00 Select each account to be recorded in the journal entry from the drop-down list provided in the order they are listed in the register. Journal Entry/Écriture de journal #12345 DATE DEBIT CREDIT ACCOUNT NAME/NOM DE COMPTE Salaries and wages expense Feb/fev 28 ▾ Bonus expense ▾ Canada Pension Plan payable ▾ Employment Insurance payable Income tax payable Union dues payable Registered Retirement Savings Plan payable Charitable donations payable Salaries and wages payable Total ▾ ▾ ▾ ▾ 316458.52 10538.43 326996.95 15087,14 6147.54 65399.39 1880 9493.76 935

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Payroll
▾ SCENARIO
Given the following information from the payroll register, calculate the net pay and prepare a journal entry for the month of February for Northern Publishers.
Salaries and wages
$316,458.52
$10,538.43
Bonus
Canada Pension Plan contributions
$15,087.14
Employment Insurance premiums
$6,147.54
Income tax
$65,399.39
Registered Retirement Savings Plan contributions
$9,493.76
Union dues
$1,880.00
Charitable donations
$935.00
Select each account to be recorded in the journal entry from the drop-down list provided in the order they are listed in the register.
Journal Entry/Écriture de journal #12345
DATE
DEBIT
CREDIT
ACCOUNT NAME/NOM DE COMPTE
Salaries and wages expense
Feb/fev 28
Bonus expense
▾
Canada Pension Plan payable
▾
Employment Insurance payable
Income tax payable
▾
Union dues payable
▾
Registered Retirement Savings Plan payable
Charitable donations payable
Salaries and wages payable
Total
316458.52
10538.43
326996.95
15087,14
6147.54
65399.39
1880
9493.76
935
Transcribed Image Text:▾ SCENARIO Given the following information from the payroll register, calculate the net pay and prepare a journal entry for the month of February for Northern Publishers. Salaries and wages $316,458.52 $10,538.43 Bonus Canada Pension Plan contributions $15,087.14 Employment Insurance premiums $6,147.54 Income tax $65,399.39 Registered Retirement Savings Plan contributions $9,493.76 Union dues $1,880.00 Charitable donations $935.00 Select each account to be recorded in the journal entry from the drop-down list provided in the order they are listed in the register. Journal Entry/Écriture de journal #12345 DATE DEBIT CREDIT ACCOUNT NAME/NOM DE COMPTE Salaries and wages expense Feb/fev 28 Bonus expense ▾ Canada Pension Plan payable ▾ Employment Insurance payable Income tax payable ▾ Union dues payable ▾ Registered Retirement Savings Plan payable Charitable donations payable Salaries and wages payable Total 316458.52 10538.43 326996.95 15087,14 6147.54 65399.39 1880 9493.76 935
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