Scoot Scooters has four employees who are paid on an hourly basis, plus time and a half
Question:
Scoot Scooters has four employees who are paid on an hourly basis, plus time and a half for hours in excess of 40 hours a week. Payroll data for the week ended February 17, 2021, follow:
Instructions
a. Prepare a payroll register for the weekly payroll.
b. Record the payroll on February 17 and the accrual of employee benefi ts expense. Assume the company accrues 4% for vacation pay.
c. Record the payment of the payroll on February 17.
d. Record the payment of the remittances to the Receiver General on March 15.
Does the owner of a proprietorship have to deduct CPP, EI, and income taxes from his or her own drawings?
Step by Step Answer:
Accounting Principles Volume 1
ISBN: 978-1119502425
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak