Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Draper Company, Ontario has the following workers data on cc code 2 for the yearly payroll ending March 31: Employee weekly Hours Worked Annual pay

Draper Company, Ontario has the following workers data on cc code 2 for the yearly payroll ending March 31:

Employee

weekly

Hours Worked

Annual pay
A 48 26000
B 45 24000
C 42 23000
D 41 22000
E 40 20000

Calculate the following and write the payroll reporting journal entries if the workers are paid

1. Weekly 2. Biweekly 3. Semi monthly 4 .monthly

(show ALL in a separate tables)

2. Gross pay of each worker3. CPP deduction4. EI deduction5. Provincial income tax6. Federal income tac7. Total income tax8. Total deduction9. CPP benefit expense to employer10. EI benefit expense to employer11. Total payroll liability payable by the employer 12. PASS ALL PAYROLL REPORTING JOURNAL ENTRIES

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 Principles Managerial Concepts

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

7th Canadian Edition

1119310296, 978-1119310297

More Books

Students also viewed these Accounting questions

Question

please dont use chat gpt AI 8 1 0 . .

Answered: 1 week ago