Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ahmad Company has the following data for the weekly payroll ending May 31: Hours Worked Employee M Tu W Th F S Hourly Rate CPP

Ahmad Company has the following data for the weekly payroll ending May 31: Hours Worked Employee M Tu W Th F S Hourly Rate CPP Deduction Income Tax Withheld Health Insurance A. Kassam 9 8 9 8 10 3 $13 $29.17 $81.25 $10 H. Faas 8 8 8 8 8 5 14 29.59 83.9 15 G. Labute 9 10 9 10 8 0 15 33.05 98.85 15 Employees are paid 1.5 times the regular hourly rate for all hours worked over 40 hours per week. Ahmad Company must make payments to the workers compensation plan equal to 2% of the gross payroll. In addition, Ahmad matches the employees health insurance contributions and accrues vacation pay at a rate of 4%. Prepare the payroll register for the weekly payroll. Calculate each employees EI deduction at a rate of 1.66% of gross pay. (Round answers to 2 decimal places, e.g. 52.76.) AHMAD COMPANY Payroll Register Gross Earnings Deductions Employee Total Hours Regular Overtime Gross Pay CPP

EI Income Tax Health Insurance Total Net Pay A. Kassam 47 $ 520 $ 136.5 $ 656.5 $ 29.17 $ $ 81.25 $ $ $ H. Faas G. Labute Totals $ $ $ $ $ $ $ $ $ Record the payroll and Ahmad Companys employee benefits. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 52.76.) Date Account Titles and Explanation Debit Credit May 31 (To record Salaries expense.) May 31 (To record employer benefit costs.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Essentials For Hospitality Managers

Authors: Chris Guilding, Kate Mingjie Ji

4th Edition

1032024321, 9781032024325

More Books

Students also viewed these Accounting questions

Question

Be prepared to discuss your career plans.

Answered: 1 week ago