1) Complete the entire pay cycle process by calculating gross to net pay, employer premium amounts and complete required accounting entries. a) Sandra works in British Columbia and is paid on a semi-monthly basis. She has a claim code of 1 on both her T1 and TDIBC. She has the following types of earnings, benefits & deductions. She will not max out on CPP or El this pay and will have full deductions. Please use 2021 rates for your calculations and show not only the deduction value but also the pensionable, insurable and taxable amounts on which they were based Regular $3200 #) Holiday Pay $250 1) Group Life-Employer paid acable benefit $15 M) RRSP contribution Employee deduction $200 1 COLLEGE & Online Learning Her employer matches her El at a non-reduced rate (1.4) and additionally pays employer health tax at a rate of 1.95%. The pay ending is July 31" and all amounts will be paid to third parties for the month. The monthly amounts will be exactly double for month end reporting purposes (journal entry 4789). Calculate gross to net, employer premiums and record all applicable accounting entries in the tables below: Debit Credit Journal Entry #14786 Date: July 31, 2021 Account Name Account No. Regular Pay 30000-601 Holiday Pay 30000-602 CPP Contributions Payable 20000-203 El Premiums Payable 20000-205 Federal Income Tax Payable 20000-206 Provincial Income Tax Payable 20000-206 RRSP Payable 20000-210 Payroll Clearing (Net Pay) 20000-218 Total To record wages expense for pay period July 31, 2021. Debit Credit Journal Entry #4787 Date: July 31, 2021 Account Name Account No. Payroll Clearing (Net Pay 20000-218 Payroll Cash 10000-100 Total To record payment to employees for pay period ending July 31, 2021 Journal Entry #4788 Date: July 31, 2021 Account Name Account No. Debit Credit CPP Employer 30000-610 El Employer 30000 611 Group Life 30000-301 British Columbia-EHT 30000-450 CPP Contributions Payable 20000-203 E Premiums Payable 20000-205 Group Life Payable 20000-223 EHT Accrual 20000-225 Total To record employer's portion of CPP Contributions, El Premiums, EHT and Group Life Expenses for pay period ending July 31, 2021 Credit Journal Entry #4789 Date: July 31, 2021 Account Name Account No. Debit CPP Contributions Payable 20000-203 El Premiums Payable 20000-205 Federal income Tax Payable 20000-206 Provincial Income Tax Payable 20000-206 Group Life Payable 20000-223 EHT Accrual 20000-225 RRSP Payable 20000-210 Payroll Cash 10000-100 Total To record remitting to third parties for the month ending Date: July 31, 2021 1) Complete the entire pay cycle process by calculating gross to net pay, employer premium amounts and complete required accounting entries. a) Sandra works in British Columbia and is paid on a semi-monthly basis. She has a claim code of 1 on both her T1 and TDIBC. She has the following types of earnings, benefits & deductions. She will not max out on CPP or El this pay and will have full deductions. Please use 2021 rates for your calculations and show not only the deduction value but also the pensionable, insurable and taxable amounts on which they were based Regular $3200 #) Holiday Pay $250 1) Group Life-Employer paid acable benefit $15 M) RRSP contribution Employee deduction $200 1 COLLEGE & Online Learning Her employer matches her El at a non-reduced rate (1.4) and additionally pays employer health tax at a rate of 1.95%. The pay ending is July 31" and all amounts will be paid to third parties for the month. The monthly amounts will be exactly double for month end reporting purposes (journal entry 4789). Calculate gross to net, employer premiums and record all applicable accounting entries in the tables below: Debit Credit Journal Entry #14786 Date: July 31, 2021 Account Name Account No. Regular Pay 30000-601 Holiday Pay 30000-602 CPP Contributions Payable 20000-203 El Premiums Payable 20000-205 Federal Income Tax Payable 20000-206 Provincial Income Tax Payable 20000-206 RRSP Payable 20000-210 Payroll Clearing (Net Pay) 20000-218 Total To record wages expense for pay period July 31, 2021. Debit Credit Journal Entry #4787 Date: July 31, 2021 Account Name Account No. Payroll Clearing (Net Pay 20000-218 Payroll Cash 10000-100 Total To record payment to employees for pay period ending July 31, 2021 Journal Entry #4788 Date: July 31, 2021 Account Name Account No. Debit Credit CPP Employer 30000-610 El Employer 30000 611 Group Life 30000-301 British Columbia-EHT 30000-450 CPP Contributions Payable 20000-203 E Premiums Payable 20000-205 Group Life Payable 20000-223 EHT Accrual 20000-225 Total To record employer's portion of CPP Contributions, El Premiums, EHT and Group Life Expenses for pay period ending July 31, 2021 Credit Journal Entry #4789 Date: July 31, 2021 Account Name Account No. Debit CPP Contributions Payable 20000-203 El Premiums Payable 20000-205 Federal income Tax Payable 20000-206 Provincial Income Tax Payable 20000-206 Group Life Payable 20000-223 EHT Accrual 20000-225 RRSP Payable 20000-210 Payroll Cash 10000-100 Total To record remitting to third parties for the month ending Date: July 31, 2021