What amount must be posted to salaries and wages payable

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Problem

The journal entry for your recent payroll run has the following entries in it: Salaries and wages expense $197,500.00 debit, QPP contributions payable $7,618.00 credit, EI premiums payable $3,307.00 credit, QPIP premiums payable $1,207.00 credit, federal income tax payable $29,230.00 credit and Québec income tax payable $58,230.00 credit. Get the instant assignment help. What amount must be posted to Salaries and wages payable in order to make this a balanced entry?

Reference no: EM133971785

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