Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

= Homework: Chapt... Question 8, P10-4A (simil... HW Score: 21.59%, 19 of 88 points O Points: 0 of 25 Save Part 1 of 2 Nation's

image text in transcribed

image text in transcribed

= Homework: Chapt... Question 8, P10-4A (simil... HW Score: 21.59%, 19 of 88 points O Points: 0 of 25 Save Part 1 of 2 Nation's DJ Service has three employees who work on an hourly basis and are paid weekly. The current CPP rate is 5.10%, the current El rate is 1.62%, and the appropriate income tax rate is 23%. Each employee contributes a portion of his or her pay to the United Way. Payroll information for the week ending May 20, 2019, is listed below. (No employee has reached the maximum for CPP and El deductions.) (Click the icon to view the payroll information.) Requirements a. Calculate gross and net pay for each employee (employees are paid overtime rate of 1.5 after working 40 hours), and complete the payroll register. Remember to properly account for the $3,500 exemption. b. Prepare a journal entry to record this payroll. a. Calculate gross and net pay for each employee (employees are paid overtime rate of 1.5 after working 40 hours), and complete the payroll register. Remember to properly account for the $3,500 exemption. (Leave any cells with a zero balance blank. Do not enter a "0." Round your answers to the nearest cent.) Earnings Deductions Rate of Pay Hours Worked Income Tax United Way Regular Overtime Gross Pay CPP Net Pay Employee R. Quimby F. Sloan R. Nobel Totals - X Payroll information Total Hours Hourly Rate United Way Employee R. Quimby 40 $ 13.00 $ 9.00 F. Sloan 48 19.00 10.00 R. Nobel 34 17.00 14.00 Print Done

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

Controlling Fur Kleine Und Mittlere Unternehmen

Authors: David Muller

2nd Edition

3110514877, 9783110514872

More Books

Students also viewed these Accounting questions