Each team is required to calculate the gross salary for tax purposes as well as all corresponding federal and provincial statutory deductions, complete with journal entries for your new employer, Company

Company is a recent tech startup company, and their payroll manager has recently left the company. The owner hired you as a recent College grad to administer the Dec st payroll, you are also to provide any advice eg Internal Control weaknesses, important dates, etc. that is helpful for their business. Please clearly identify any assumptions that you make

Ryan Smith:

Ryan is an intricate part of the sales team which is responsible for worldwide sales and distribution.

Ryans salary is $ annually, he receives a monthly company allowance of $ and cell phone $ monthly Ryan is due $ of commissions of the total of $ year annually. Ryan asked to have his profit sharing deferred until Ryan also avails himself of the full extent of the matching RRSP

Ryan does NOT contribute to TSFA.tax free saving account

John Smith:

John is an intricate part of the sales team which is responsible for worldwide sales and distribution.

Johns salary is $ annually, he receives a monthly company allowance of $ and cell phone $ monthly John also all commissions owing for the year $ John asked to have his profit sharing paid in John also avails of the full extent of the matching RRSP

John does NOT contribute to TSFA. Extra info: The office lottery pool recently won million between the coworkers and each employee had received their share on Dec th

Private health care service premiums of $ per month are paid for all employees.

Long Term Disability premiums of $ per month are paid for employees.

GL balance for GST Paid ITCs shows $ and GST Payable shows $ Company uses a manual general ledger system, and there were several manual cheques cut for Contractors that were not run through the payroll but have been entered into the general ledger.

Automobile expenses to date are $