The Faber Company had two employees for the week ended June 24. On thebasis of the following information, prepare a general journal entry to recordthe employee benefits expense for that payroll.EmployeeBrett PoxCasey FlicksSalary8001,100DateJune 24IT162195AccountsDeductionsCPP3651Prepare the journal entry below. (Record debits first, then credits.Explanations are not required. Round your answers to the nearest cent.)ΕΙ1420PRNet Pay588834DebitCredit

1] Deductions are the amount of money that is part of the CTC package offered to an employee but is…

Answered: The Faber Company

Business

Accounting

The Faber Company

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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Question

The Faber Company had two employees for the week ended June 24. On the
basis of the following information, prepare a general journal entry to record
the employee benefits expense for that payroll.
Employee
Brett Pox
Casey Flicks
Salary
800
1,100
Date
June 24
IT
162
195
Accounts
Deductions
CPP
36
51
Prepare the journal entry below. (Record debits first, then credits.
Explanations are not required. Round your answers to the nearest cent.)
ΕΙ
14
20
PR
Net Pay
588
834
Debit
Credit

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