Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

GenZ is a family restaurant run by Robert family. Robert, his wife and two daughter runs the restaurant and they don't take any salary themselves.

GenZ is a family restaurant run by Robert family. Robert, his wife and two daughter runs the restaurant and they don't take any salary themselves. They hire part time employee to help them when very busy. Due to the work pressure, Julia, Robert's daughter forgot to make the remittance for November payroll. Actual remittance was sent on 27th December. The restaurant makes regular remittance.
the last pay pay day is 27th December, they make bi-weekly payments to their employees. all employees Federal and ON CC is 1. They will not reach maximum for CPP and EI with this pay. 4% vacation payment is paid with every pay period earning
Calculate statutory deduction and net pay for the employees listed for December 27 Pay period. Add their information to the payroll record. Determine amount to remit to CRA.
Assume that the remittance will be made on time for this pay period.
Calculate non-compliance penalty if any.
Prepare an organized Payroll record for all employees to reflect their payment for the whole year.
Prepare T4 and T4 summary for all employees.
Show all calculations
upload all T4 and T4 summary to Canvas
(No Zip file, upload the original
All payroll related information are provided below:
Employee Information
800123457 Liam Brown
71 Ellesmere Road, Toronto, ON M1R 4C2
800120453 Lucas Campbell
1201 Kingston Road, Scarborough, ON M1N 1P1
803120450 Ethan Cloutier
55 Oakworth Crescent, Toronto ON M1K 3T7
813120458 Ava Boucher
59 Valhalla Blvd, Toronto ON M1N 3B3
813129459 Noah Beaulieu
9 landseer Road, Toronto ON, M1K 3A7
813119450 Benjamin Adams
309-1398 Birchmount Road, Scarborough, ON M1P 2E2
873119457 Jack Belanger
7-21 Peard Road, Toronto ON M481T7
873111454 Charlotte Green
308 Kingswood Road, Toronto, ON M4E 3N8
earning vacation pay CPP EI Tax Total Ded Net Pay
Liam 24 Oct, 2023 $900.00 $36.00 $47.68 $15.26 $73.42 $136.36 $799.64
2 Jan, 2023 $833.33 $33.33 $43.56 $14.13 $46.87 $104.55 $762.11
20 Dec, 2023 $1,166.67 $46.67 $64.18 $19.78 $126.51 $210.47 $1,002.87
06 Dec, 2023 $1,666.67 $66.67 $95.12 $28.25 $228.95 $352.33 $1,381.01
09 Nov, 2023 $1,800.00 $72.00 $103.37 $30.51 $264.37 $398.26 $1,473.74
22 Nov, 2023 $2,000.00 $80.00 $115.75 $33.90 $319.77 $469.42 $1,610.58
$8,366.67 $334.67 $469.67 $141.83 $1,059.89 $1,671.39 $7,029.95
Lucas 10 Oct, 202330012 $10.55 $5.090 $15.64 $296.36
Ethan 10 Oct, 202340016 $16.74 $6.780 $23.52 $392.48
Ava 22 Aug, 202357022.8 $27.26 $9.660 $36.92 $555.88
17 Jul, 2023667.526.7 $33.30 $11.329.95 $54.56 $639.64
08 Aug, 2023528.7521.15 $24.71 $8.960 $33.67 $516.23
1766.2570.65 $85.27 $29.949.95 $125.16 $1,711.74
Noah 09 Nov, 202360024 $29.12 $10.170 $39.29 $584.71
24 Oct, 202372529 $36.85 $12.2923.87 $73.01 $680.99
10 Oct, 202330012 $10.55 $5.090 $15.64 $296.36
19 Dec, 202350020 $22.93 $8.480 $31.41 $488.59
06 Dec, 202350020 $22.93 $8.480 $31.41 $488.59
22 Nov, 202360024 $29.12 $10.170 $39.29 $584.71
3225129 $151.51 $54.6723.87 $230.05 $3,123.95
Benjamin 22 Aug, 20232008 $4.37 $3.390 $7.76 $200.24
Jack 10 Oct, 202330012 $10.55 $5.090 $15.64 $296.36
Charlotte 17 Jul, 202360024 $29.12 $10.170 $39.29 $584.71
08 Aug, 2023386.2515.45 $15.89 $6.550 $22.44 $379.26
986.2539.45 $45.01 $16.720 $61.73 $963.97
December 27 Pay day:
Hours worked
Hourly Rate 1st week 2nd week
Lucas $17.251615
Ethan $19.504710
Benjamin $25.001245
Jack $18.002048
Charlotte $22.002216

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 Costing And Management

Authors: Riad Izhar, Janet Hontoir

2nd Edition

9780198328230

More Books

Students also viewed these Accounting questions

Question

Would you be willing to work with them?

Answered: 1 week ago