A Omega company pays its employees monthly. For February Omega Cos employees had total
gross pay of $ Personal income tax was deducted at of total gross pay.
In CPP contributions are for both Omega and its employes The El contribution
rate for employees is and Omega must contribute times the employee amount for its
share as the employer. of employees' February earnings are subject to both CPP and EI
Employees' contributions to Omega's group RRSP plan equal to of their gross pay were
deducted in February. Omega contributes of the amount contributed by employees and
remits the funds to the group RRSP plan.
Omega paid the employees their net pays on Thursday, February th Omega pays its employees on
the last day of work every month. Any remittances other than net pay will be made in March.
Required:
Prepare the journal entryies on Feb for Omega to record the February payroll.
