Ch $13$ In$-$Class Assignment $($graded$,$ independent work$)$ The following is the annual salary for employees at Puffy Puffs $($bakery$).$ All employees on the list are full$-$time employees and the salaries listed are the annual salary $($for the full year$).$ Eligilbe employees received bonus on November $30,2020.$ The company is on a bi$-$weekly payroll cycle totla $26$ payrolls in a year. The EI rate is $1\mathrm{.}58\%$ and the maximum annual EI insurable earning is $$54,200).$ The employer is obliged to contribute $1\mathrm{.}4$ times the EI as the employee's contribution. Annual CPP Pensionable earning was $$58,700$ The CPP rate is $5\mathrm{.}45\%$ for the employee and the employer. Assuming a $15\%$ income tax rate for the first $$70,000$ employment income; and $20\%$ income tax rate for employment income above $$70,000.$ Group health benefits employee $/$ employer cost sharing on a $30\%/70\%$ split and pay to Canada Life Insurance. Puffy Puffs is a private company following ASPE.

Last payroll in December $2020($bi$-$weekly pay$)$

Employee name Annual salary Bonus $($paid$)$ Bi$-$weekly gross $($without bonus$)$ Income tax deducted CPP$-$employee CPP$-$employer EI$-$employee EI$-$employer Group health benefit $($cost at $100\%)$ Group health benefit $-$ employee's cost share Group health benefit $-$ employer's cost share

Part a L$.$ Smith $68,0003,600$

J$.$ Peters $48,500500$

H$.$Lou $53,0002,500$

M$.$Clark $58,0001,200$

Total $227,5007,800000000000$

$1$ point $2$ points $3$ points $1$ point $3$ points $1$ point $1$ point $1$ point

Instructions:

a$.$ Complete cells highlighted in yellow in the table per above. Assuming it was the last payroll in December $2020.$ Round amonts with no decimal.

$13$ points

b$.$ Prepare the necessary journal entries $($JE$)$ to record the payment of the last payroll in December $2020$ to the four $(4)$ employees in one consolidated JE $($i$.$e$.$ no need to list the details by employee$)$

c$.$ Prepare the necessary journal entries $($JE$)$ to record the employer's payroll costs.

d$.$ Prepare the necessary journal entries $($JE$)$ to record payment of the relevant payroll liabilities due to the Receiver General $($i$.$e$.$ the Canada Revenue Agency$)$

e$.$ For every dollar of salaries and wages paid in the year $2020$ by Puffy Puffs, what is the actual payroll cost to the employer?

Round to tow $(2)$ decimal places.