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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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,
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
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