Payroll Problem #4 You are the accountant for Eastern Building Contractors. Complete the following tasks related to the preparation of the last payroll for the month of November. The employees are paid bi-weekly_(every second week). The employer matches the contribution made by the employee to the medical insurance plan. Assume that none of the employees has reached the maximum earnings for El or CPP (1.) Complete the attached payroll register. (2.) Prepare journal entries to: (a) record the current payroll (b) record the employer share of statutory benefits record the employer share of non-statutory benefits record the individual payments of the amounts owing Information required to complete this problem (based upon 2015 rates as used in textbook) EI CPP Tax 1.66% 4.95% 30% Maximum Insurable Earnings/Year - $51,700 Maximum Pesionable Earnings/Year - $58,700 Assume a flat tax rate $3,500 annual exemption Register - for the two weeks ended November x, 200x Deductions Distribution Gross El CPP Income Union United Medical Total Net Office Salaries Pay Premium Premium Taxes | Dues Plant Wage Expense Way Insurance Deductions Pay 30.00 65.00 1.250,00 15.00 15.00 1.250.00 1,560,00 1.400.00 1,350.00 1,300.00 55.00 65.00 15.00 5.00 800 20.00 10.00 1.560.00 1.400.00 1.350.00 1.300.00 15.00 65.00 55.00 15.00 75.00 22.00 305.00 1250001 610.00 Deductions Income Employee Name Gross Pay El Premium CPP Premium Union Dues Medical Insurance Total Deductions Distribution Net Salaries Payable Salaries Wages About 375.00 65.00 1 250.00 Bane, K Jacob, L Sampson D 1.250,00 1,400.00 890.00 850.00 842.00 267.00 255.00 252.60 15.00 15.00 15.00 15.00 15.00 55.00 65.00 65.00 55 00 1.400.00 890.00 850,00 842.00 Little Payroll Problem #4 You are the accountant for Eastern Building Contractors. Complete the following tasks related to the preparation of the last payroll for the month of November. The employees are paid bi-weekly_(every second week). The employer matches the contribution made by the employee to the medical insurance plan. Assume that none of the employees has reached the maximum earnings for El or CPP (1.) Complete the attached payroll register. (2.) Prepare journal entries to: (a) record the current payroll (b) record the employer share of statutory benefits record the employer share of non-statutory benefits record the individual payments of the amounts owing Information required to complete this problem (based upon 2015 rates as used in textbook) EI CPP Tax 1.66% 4.95% 30% Maximum Insurable Earnings/Year - $51,700 Maximum Pesionable Earnings/Year - $58,700 Assume a flat tax rate $3,500 annual exemption Register - for the two weeks ended November x, 200x Deductions Distribution Gross El CPP Income Union United Medical Total Net Office Salaries Pay Premium Premium Taxes | Dues Plant Wage Expense Way Insurance Deductions Pay 30.00 65.00 1.250,00 15.00 15.00 1.250.00 1,560,00 1.400.00 1,350.00 1,300.00 55.00 65.00 15.00 5.00 800 20.00 10.00 1.560.00 1.400.00 1.350.00 1.300.00 15.00 65.00 55.00 15.00 75.00 22.00 305.00 1250001 610.00 Deductions Income Employee Name Gross Pay El Premium CPP Premium Union Dues Medical Insurance Total Deductions Distribution Net Salaries Payable Salaries Wages About 375.00 65.00 1 250.00 Bane, K Jacob, L Sampson D 1.250,00 1,400.00 890.00 850.00 842.00 267.00 255.00 252.60 15.00 15.00 15.00 15.00 15.00 55.00 65.00 65.00 55 00 1.400.00 890.00 850,00 842.00 Little
