Question
Complete the entire pay cycle process by calculating gross to net pay, employer premium amounts and complete required accounting entries. Sandra works in British Columbia
Complete the entire pay cycle process by calculating gross to net pay, employer premium amounts and complete required accounting entries.
Sandra works in British Columbia and is paid on a semi-monthly basis. She has a claim code of 1 on both her TD1 and TD1BC. She has the following type of earnings, benefits & deductions. She will not max out on CPP or EI this pay and will have full deductions. Regular $3200 Holiday Pay $250 Group Life Employer paid Taxable benefit $15 RRSP contribution $200 Her employee matches her EI at a non-reduced rate (1.4) and additionally pays employer health tax at a rate of 1.95%. The pay ending is July 31st and all amounts will be paid to third parties for the month. The monthly amounts will be exactly double for month end reporting purposes. Calculate gross to net, employee premiums and record all applicable accounting entries in the tables below:
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