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On January 15, the payroll supervisor determines that the bi-weekly gross pay for the ABC...

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Accounting

On January 15, the payroll supervisor determines that the bi-weekly gross pay for the ABC Company was $115,000. Employee deductions include $3,020 for CPP, $3,050 for EI and $23,500 for personal income taxes. The payment of the payroll and remittances occurred on January 17.

Required:

Prepare the journal entries to record the following:

  1. Employee payroll deductions,

  2. Employers payroll costs,

  3. Payment of the payroll and

  4. Remittances.

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