V21 The payroll of Culver Corp. for September 2020 is as follows. Total payroll was $475,000. Pensionable (CPP) and insurable (EI)earnings were $335,000. Income taxes in the amount of $86,000 were withheld, as were $6,861 in union dues. The EmploymentInsurance tax rate was 1.66% for employees and 2.324% for employers, and the CPP rate was 4.95% for employees and 4.95% foremployers.Prepare the necessary journal entries to record the payroll if the salaries and wages paid and the employer payroll taxes arerecorded separately. (Round answers to 0 decimal places, e.g. 5,275, Credit account titles are automatically indentedwhen the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles andenter 0 for the amounts.)Account Titles and Explanation *enterfes and wages paid and the(To record the salaries and wages paid and theemployee payroll deductions)(To record employer contributions)DebitCredit Prepare the entries to record the payment of all required amounts to the Receiver General for Canada and to the employees'union. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amountis entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for theamounts.)Account Titles and Explanation(To record remittance)(To remit union dues collected)Show Transcribed TextDebitCost per dollarCreditFor every dollar of salaries and wages that Culver commits to pay, what is the actual payroll cost to the company? (Round answerto 3 decimal places, e.g. 5.275.)

The process of recording business transactions in the books of accounts for the first time is…

The payroll of Culver Corp. for September 2020 is as follows. Total payroll was $475,000. Pensionable (CPP) and insurable (EI) earnings were $335,000. Income taxes in the amount of $86,000 were withheld, as were $6,861 in union dues. The Employment Insurance tax rate was 1.66% for employees and 2.324% for employers, and the CPP rate was 4.95% for employees and 4.95% for employers. Prepare the necessary journal entries to record the payroll if the salaries and wages paid and the employer payroll taxes are recorded separately. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation * fes and wages paid and the (To record the salaries and wages paid and the employee payroll deductions) (To record employer contributions) Debit Credit