Required:
1. The employerâs payroll costs are calculated by matching theemployeeâs CPP contribution (employee rate 4.95%; maximum $2306.70)and paying 1.4 times the employeeâs EI Premium (employee rate1.83%; maximum $839.97). Record the employerâs payroll costs in thegeneral journal.
2. Why is no CPP or EI deducted from Boyd.
Assume that payroll records of a branch of indigo Books providedthe following information for the weekly pay period ended December18, 2012:
Employee Lucy Bourdon Maura Wells Carl Boyd Maurice Lamont
Hoursworked 45 50 49 40
40- hours weeklyearnings $440 $500 $850 $380
IncomeTax $62.85 $73.25 $184.10 $42.60
Canada PensionPlan $22.53 $30.70 $0.00 $15.48
Employmentinsurance $9.56 $12.58 0 $6.95
UnitedWay $16 $16 $40 $4
Earnings at end of previousweek) $19,130 $28,400 $56,380 $8966
Lucy Bourdon and Maurice Lamont work in the office, and MauraWells and Carl Boyd are sales staff. All employees are paid timeand a half for hours worked in excess of 40 hours per week. Showcomputations.
General Journal
DATE
2012
ACCOUNT TITLES AND EXPLANATIONS
POST. REF.
DEBIT
CREDIT
Req. 4
Required:
1. The employerâs payroll costs are calculated by matching theemployeeâs CPP contribution (employee rate 4.95%; maximum $2306.70)and paying 1.4 times the employeeâs EI Premium (employee rate1.83%; maximum $839.97). Record the employerâs payroll costs in thegeneral journal.
2. Why is no CPP or EI deducted from Boyd.
Assume that payroll records of a branch of indigo Books providedthe following information for the weekly pay period ended December18, 2012:
Employee Lucy Bourdon Maura Wells Carl Boyd Maurice Lamont
Hoursworked 45 50 49 40
40- hours weeklyearnings $440 $500 $850 $380
IncomeTax $62.85 $73.25 $184.10 $42.60
Canada PensionPlan $22.53 $30.70 $0.00 $15.48
Employmentinsurance $9.56 $12.58 0 $6.95
UnitedWay $16 $16 $40 $4
Earnings at end of previousweek) $19,130 $28,400 $56,380 $8966
Lucy Bourdon and Maurice Lamont work in the office, and MauraWells and Carl Boyd are sales staff. All employees are paid timeand a half for hours worked in excess of 40 hours per week. Showcomputations.
General Journal | |||||
DATE | ACCOUNT TITLES AND EXPLANATIONS | POST. REF. | DEBIT | CREDIT | |
Req. 4
Related questions
Required:
1. Enter the appropriate information in a payroll register.
2. Record the payroll information in a general journal, crediting netpay to cash
Assume that payroll records of a branch of indigo Books providedthe following information for the weekly pay period ended December18, 2012:
Employee Lucy Bourdon Maura Wells Carl Boyd Maurice Lamont
Hoursworked 45 50 49 40
40- hours weeklyearnings $440 $500 $850 $380
IncomeTax $62.85 $73.25 $184.10 $42.60
Canada PensionPlan $22.53 $30.70 $0.00 $15.48
Employmentinsurance $9.56 $12.58 0 $6.95
UnitedWay $16 $16 $40 $4
Earnings at end of previousweek) $19,130 $28,400 $56,380 $8966
Lucy Bourdon and Maurice Lamont work in the office, and MauraWells and Carl Boyd are sales staff. All employees are paid timeand a half for hours worked in excess of 40 hours per week. Showcomputations.
Payroll Register | |||||||||||||
GROSS PAY | DEDUCTIONS | NET PAY | ACCOUNT DEBITED | ||||||||||
EMPLOYEE NAME | HRS | STRAIGHT-TIME | OVER-TIME | TOTAL | INCOME TAX | CANADA PENSION PLAN | EMPLOY-MENT | UNITED WAY | TOTAL | AMOUNT | CHQ. NO. | OFFICE SALARIES EXPENSE | SALES SALARIES EXPENSE |
Computations:
Req. 2
General Journal | |||||
DATE | ACCOUNT TITLES AND EXPLANATIONS | POST. REF. | DEBIT | CREDIT | |
