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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






aPrepare a worksheet in Excel for your employees to calculate their weekly net pay

Employees




1TimWorked for 45 hours. Earns $9.45 per hour

2AbdullahWorked for 52 hours. Earns $9.80 per hour

3CindyWorked for 48 hours. Earns $11.40 per hour

4SamWorked for 40 hours. Earns $12.15 per hour







Company's policy



1Regular hours between 0-40 hours

2Time and a half between 40-60 hours

3Each employee is given health insurance for $110 each period







Taxes




1Employees' portion of EI - 1.58%

2Employees portion of CPP - 5.45%

3Federal taxes - 15%


4State taxes - 9%








Other




1Tim and Sam also make charitable contributions of $25 each period






bPrepare 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






cPrepare 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 ... blur-text-image

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