During October, Seger Insurance employees earned $100,000 in wages. The employer's share of Canada Pension Plan contributions was $3,000 and employer Employment Insurance premiums were $1,400. Required: Prepare the necessary journal entry for Seger to record the employer portion of these payroll taxes. For those boxes in which no entry is

PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN:9781337619783
Author:BIEG
Publisher:BIEG
Chapter3: Social Security Taxes
Section: Chapter Questions
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During October, Seger Insurance employees earned $100,000 in wages. The employer's share of Canada Pension Plan contributions was
$3,000 and employer Employment Insurance premiums were $1,400.
Required:
Prepare the necessary journal entry for Seger to record the employer portion of these payroll taxes. For those boxes in which no entry is
required, leave the box blank.
Canada Pension Plan Taxes Expense
4,400
Canada Pension Plan Taxes Payable (Employer)
3,000
Employment Insurance Expense
1,400
(Record employer payroll taxes)
Transcribed Image Text:During October, Seger Insurance employees earned $100,000 in wages. The employer's share of Canada Pension Plan contributions was $3,000 and employer Employment Insurance premiums were $1,400. Required: Prepare the necessary journal entry for Seger to record the employer portion of these payroll taxes. For those boxes in which no entry is required, leave the box blank. Canada Pension Plan Taxes Expense 4,400 Canada Pension Plan Taxes Payable (Employer) 3,000 Employment Insurance Expense 1,400 (Record employer payroll taxes)
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