Question

Blue Spruce Inc.’s weekly payroll of $24,000 included employee income taxes withheld of $3,382, Canada Pension Plan (CPP) withheld of $1,033, and Employment Insurance (EI) withheld of $480.

Prepare the journal entry to record Blue Spruce’s weekly payroll.

Answer 1

Answer
Account Title	Debit	Credit
Salaries Expenses	$     24,000
Income Tax Payable		$       3,382
Canada Pension Plan Payable		$       1,033
Employee Insurance Payable		$          480
Salaries Payable		$     19,105
( To Record the weekly payroll )