Question

Exercise AI-7 Payroll journal entry LO2 Paradise Hills Berry Farm has 25 employees who are paid biweekly. The payroll register showed the following payroll deductions for the pay period ending March 23, 2015. Gross Pay EI Premium Income Taxes CPP Medical Ins. United Way 65,950.00 1,240.00 9,095.00 3,097.93 1,150.00 1,319.00 Required: Using the information provided, prepare the journal entry to record the payroll expenses. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round the final answers to 2 decimal places.)

Answer 1

Date	Account Titles and Explanations	Debit	Credit
Mar-23	Salaries expense	$ 65,950
	EI payable		$ 1,240
	Employees’ income taxes payable		$ 9,095
	CPP payable		$ 3,097.93
	Medical insurance payable		$ 1,150
	United way payable		$ 1,319
	Salaries payable		$ 50,048.07
	(To record the payroll expenses )