Haines Company Prepared the Following Payroll Summary for the Current

question 15

Essay

Haines Company prepared the following payroll summary for the current month:
CPP is 4.95% and EI is 1.66%, and none of the current month's salaries and wages exceed the CPP or EI limits. Haines makes a pension contribution equal to 9% of each employee's gross earnings. A vacation pay accrual is also made at 3.6% of the gross earnings. Haines has 10 employees. Prepare the journal entries to record:(A) The month's payroll accrual.(B) The month's employer payroll tax expense.(C) The employer's pension contribution and vacation pay accrual.

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Definitions:

Chemotherapy

A type of cancer treatment using one or more anti-cancer drugs as part of a standardized chemotherapy regimen to kill or slow the growth of cancer cells.

Cranium

The part of the skull that encloses the brain, consisting of the frontal, parietal, temporal, and occipital bones.

Temporal Bone

A bone of the skull located at the side of the head containing the organs of hearing and balance.

Parietal Bone

A bone forming the central side and upper back part of each side of the skull.