Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Part A Brenda Jones worked for Cool Corner Store for straight-time earnings of S 15.00 per hour with time and a half for hours in

image text in transcribedimage text in transcribed

Part A Brenda Jones worked for Cool Corner Store for straight-time earnings of S 15.00 per hour with time and a half for hours in excess of 35 hours per week. Brenda Jones' payroll deductions included the following: Income tax of 25% CPP of 4.95% on earnings (Account for the $ 3,500 basic annual exemption.) EI of 1.88% on earnings In addition, Brenda Jones contributed S 20 per week to her Registered Retirement Savings Plan (RRSP). Brenda Jones worked 40 hours during the week. She had not reached the CPP or El maximum earning levels. Required: 1. Calculate Brenda Jones's gross pay and net pay for the week. 2. Make an October 17 journal entry in the general journal to record Cool Corner Store's wage expense for Brenda Jones' work, including her payroll deductions and the employer's payroll costs. Round all amounts to the nearest cent. Explanations are not required. Part A Part A Brenda Jones worked for Cool Corner Store for straight-time earnings of S 15.00 per hour with time and a half for hours in excess of 35 hours per week. Brenda Jones' payroll deductions included the following: Income tax of 25% CPP of 4.95% on earnings (Account for the $ 3,500 basic annual exemption.) EI of 1.88% on earnings In addition, Brenda Jones contributed S 20 per week to her Registered Retirement Savings Plan (RRSP). Brenda Jones worked 40 hours during the week. She had not reached the CPP or El maximum earning levels. Required: 1. Calculate Brenda Jones's gross pay and net pay for the week. 2. Make an October 17 journal entry in the general journal to record Cool Corner Store's wage expense for Brenda Jones' work, including her payroll deductions and the employer's payroll costs. Round all amounts to the nearest cent. Explanations are not required. Part A

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

Auditing E Commerce Systems And IT Infrastructure

Authors: Pearson

1st Edition

0536903662, 978-0536903662

More Books

Students also viewed these Accounting questions

Question

Does it have at least one-inch margins?

Answered: 1 week ago

Question

Does it highlight your accomplishments rather than your duties?

Answered: 1 week ago