Macler Company completed the salary and wage payroll for March. The payroll provided the following detals: Salaries and wages earned Employee Income taxes withheld Canada Pension Plan Employment Insurance $ 230,000 se,200 2,500 750 equired: Considering both employee and employer payroll taxes, use the preceding Information to calculate the total labour cost for the ompany. TIP: Employer CPP equals employee CPP. Employer El equals 1.4 times employee El. Total labour cost 326,550

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
100%

Need help with accounting 

Macler Company completed the salary and wage payroll for March. The payroll provided the following detalls
s 200,000
2,5e
Required:
1 Considering both employee and employer payroll taxes. use the preceding Information to calculate the total labour cost for the
company. TIP: Employer CPRP equals employee CPP. Employer El equals 1.4 times employee El.
Total labour cost
326,550
2 Prepare the Journal entry to record the payroll for March, Including employee deductions but excluding employer payroll taxes. (If ro
entry Is requred for a transaction/event, select No journal entry requlred" In the first account field.)
Vlew trannacton ilel
Journal entry worksheet
Recond the payroll for march including employee deductions but excluding
employer payroll taxes.
INote: Enter debits berare credits
Date
General Journal
Debit.
Credit
T March 31,
Transcribed Image Text:Macler Company completed the salary and wage payroll for March. The payroll provided the following detalls s 200,000 2,5e Required: 1 Considering both employee and employer payroll taxes. use the preceding Information to calculate the total labour cost for the company. TIP: Employer CPRP equals employee CPP. Employer El equals 1.4 times employee El. Total labour cost 326,550 2 Prepare the Journal entry to record the payroll for March, Including employee deductions but excluding employer payroll taxes. (If ro entry Is requred for a transaction/event, select No journal entry requlred" In the first account field.) Vlew trannacton ilel Journal entry worksheet Recond the payroll for march including employee deductions but excluding employer payroll taxes. INote: Enter debits berare credits Date General Journal Debit. Credit T March 31,
3. Prepare the journal entry to record the employer's CPP and El contributons. (If no entry is required for a transaction/event, select
"No.journal entry required" In the first account field.)
Vow tranuaction list
Journal entry worksheet
台灣券
Record employer payroll taxes on march payroll.
Date
General Jourmal.
Debit
Credit
March 31
Record entry
Clear entry
Transcribed Image Text:3. Prepare the journal entry to record the employer's CPP and El contributons. (If no entry is required for a transaction/event, select "No.journal entry required" In the first account field.) Vow tranuaction list Journal entry worksheet 台灣券 Record employer payroll taxes on march payroll. Date General Jourmal. Debit Credit March 31 Record entry Clear entry
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

Blurred answer
Knowledge Booster
Accounting systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education