Reference no: EM133044628

Question - Hamilton, Inc. prepared the following payroll summary for the current month:

Total salaries $49,500

Employee deductions:

Employee income taxes withheld 11,670

Hospital insurance premiums 1,420

Union dues withheld 1,160

CPP is deducted at 4.95% and EI is deducted at 1.73%.

Hamilton contributes to a private pension plan on behalf of its employees in the amount of 8% of gross pay. A vacation pay accrual is also made in the amount of 4% of the gross pay.

Required - Prepare the journal entries to record:

a) The month's payroll register.

b) The cost of employee benefits for CPP and EI.

c) The cost of employee benefits for the private pension plan and vacation pay.