Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Naquin'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

image text in transcribed

Naquin'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 March 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. D. riepare a journal truy w rewiu Und Payroll. (newru UEDIS INISI, WEn Lieus. Caplanauuris AE NOLIEquileu. Round wo me nearest LEN L.) Date Account Titles PR Debit Credit Jan. 20 Naquin'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 March 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. D. riepare a journal truy w rewiu Und Payroll. (newru UEDIS INISI, WEn Lieus. Caplanauuris AE NOLIEquileu. Round wo me nearest LEN L.) Date Account Titles PR Debit Credit Jan. 20

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_2

Step: 3

blur-text-image_3

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

Authors: Carl S. Warren, Philip E. Fess, James M. Reeve, C.Rollin Niswonger, Jim Reeve

18th Edition

0538839333, 978-0538839334

More Books

Students also viewed these Accounting questions

Question

Compare and contrast the housing patterns of different cultures

Answered: 1 week ago

Question

Compare and contrast high- and low-load environments

Answered: 1 week ago

Question

Describe why intercultural communication competence is a necessity

Answered: 1 week ago