The ABC Corporation has three employees who each earn $2,000 each per month. Calculate the payroll using the following rates: (Note: These rates may not be the rates you have worked with during the class, but are the rates that you will use for this exam.) El rate: CPP rate: Annual CPP exemption: Income Tax: Provincial combined): 1.73% 4.95% $3,500 25% (Federal and None of the employees have reached the maximum amount for El or CPP deductions this year. Using the Excel working papers for Part F: Payroll: Prepare the journal entry to record the March 1. 30 payroll. 2. Prepare a second journal entry to record the additional employer payroll expenses for the March 30 payroll. (It is not necessary to record Vacation Pay

The ABC Corporation has three employees who each earn $2,000 each per month. Calculate the payroll using the following rates: (Note: These rates may not be the rates you have worked with during the class, but are the rates that you will use for this exam.) El rate: CPP rate: Annual CPP exemption: Income Tax: Provincial combined): 1.73% 4.95% $3,500 25% (Federal and None of the employees have reached the maximum amount for El or CPP deductions this year. Using the Excel working papers for Part F: Payroll: Prepare the journal entry to record the March 1. 30 payroll. 2. Prepare a second journal entry to record the additional employer payroll expenses for the March 30 payroll. (It is not necessary to record Vacation Pay

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 10PA: Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and...

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