Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Problem: 1 20 marks Draper Company, Ontario has the following workers data on cc code 2 for the yearly payroll ending March 31: Employee weekly

image text in transcribed
Problem: 1 20 marks Draper Company, Ontario has the following workers data on cc code 2 for the yearly payroll ending March 31: Employee weekly Hours Worked 48 Annual pay A 26000 B 45 24000 42 23000 D 41 E 40 22000 20000 Calculate the following and write the payroll reporting journal entries if the workers are paid 1. Weekly 2. Biweekly 3. Semi monthly 4. monthly (Show ALL in a separate tables) 1. Gross pay of each worker 2. CPP deduction 3. EI deduction 4. Provincial income tax 5. Federal income tac 6. Total income tax 7. Total deduction 8. CPP benefit expense to employer 9. EI benefit expense to employer 10. Total payroll liability payable by the employer 11. PASS ALL PAYROLL REPORTING JOURNAL ENTRIES

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions