Question
a Prepare a worksheet in Excel for your employees to calculate their weekly net pay Employees 1 Tim Worked for 45 hours. Earns $9.45 per
a | Prepare a worksheet in Excel for your employees to calculate their weekly net pay | ||||
Employees | |||||
1 | Tim | Worked for 45 hours. Earns $9.45 per hour | |||
2 | Abdullah | Worked for 52 hours. Earns $9.80 per hour | |||
3 | Cindy | Worked for 48 hours. Earns $11.40 per hour | |||
4 | Sam | Worked for 40 hours. Earns $12.15 per hour | |||
Company's policy | |||||
1 | Regular hours between 0-40 hours | ||||
2 | Time and a half between 40-60 hours | ||||
3 | Each employee is given health insurance for $110 each period | ||||
Taxes | |||||
1 | Employees' portion of EI - 1.58% | ||||
2 | Employees portion of CPP - 5.45% | ||||
3 | Federal taxes - 15% | ||||
4 | State taxes - 9% | ||||
Other | |||||
1 | Tim and Sam also make charitable contributions of $25 each period | ||||
b | Prepare the payroll journal entries including the employer's portion for EI (1:4:1) and CPP (1:1) | ||||
Assume you pay cash on the day that you are recording the journal entry | |||||
c | Prepare partial trial balance, income statement, and balance sheet | ||||
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Solution 1 72 34567 8 9 10 11 12 13 1 2 A 34567891 Tim Abdullah Cindy Sam TOTAL 10 B ...Get Instant Access to Expert-Tailored Solutions
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Applied Statistics In Business And Economics
Authors: David Doane, Lori Seward
4th Edition
73521485, 978-0073521480
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