Question
Hello, tutors, you can please help with this journal entries using an Excel spreadsheet. Ralph's Enterprise has two salaried and three hourly employees in Vancouver
Hello, tutors, you can please help with this
journal entries using an Excel spreadsheet.
Ralph's Enterprise has two salaried and three hourly employees in Vancouver as follows:
TD1 Fed TD1 BC Pay Rate Basis Hours Department
Imran 1 1 2500 month office
Bilal 2 2 15.00 hours 90 office
Elda 2 2 10.25 hours 80 sales
Yue 5 5 17.50 hours 89 sales
Lavare 1 1 120000 annual sales
The payroll is processed for all employees on a bi-weekly basis and this payroll is for the two weeks ending January 12th, 2018. There will be 26 regular pays in the year.
Note that the hours are a total for the two-week period and include 8 hours at straight time rate for the New Year's Day holiday. The business records Statutory Holiday in a separate account than Wages and Salaries expense.
Ralph's Enterprise pays overtime at the minimum B.C. standard. Assume that the hours shown above were spread equally over each of the weeks. The employer pays 4% vacation to hourly employees with each pay and accrues 6% for salaried employees. The employer estimates current year W.S.I.B. premiums at $2.50 per $100 of assessable earnings.
Hourly paid employees are members of a Union with dues per week equal to one hour's regular rate of pay.
All employees contribute $2.00 per pay to the "Sunshine Club" through payroll deduction.
All employees are between the ages of 20 and 60 years.
The calculation of statutory deductions should be done by using the CRA online tables.
Your printed report should be formatted for single page printing, ensure that your name and student number is shown on the report.
Chart of Accounts (not in order):
Office Wages
EI Expense
Sunshine Club Payable
Sales Wages
Taxes Payable
Statutory Holiday Expenses
CPP Payable
WCB Expense
Union Dues Payable
CPP Expense
WCB Payable
Vacation Pay Expense
EI Payable
Wages Payable
Vacation Payable
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