Question
Required information Skip to question Here is a sample Payroll Register for a weekly payroll of an Ontario company: Week of Jan 31 Hours Earnings
Required information
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Here is a sample Payroll Register for a weekly payroll of an Ontario company:
Week of Jan 31 | Hours | Earnings | ||||||||||
Employee | Rate | Reg | OT | Reg | OT | Vac Pay | Gross | CPP | EI | Fed Tax | Prov Tax | Net |
H. Boss | $40.00 | 37.5 | 0 | $1,500.00 | $ - | $90.00 | $1,590.00 | $75.37 | $29.89 | $286.20 | $190.80 | $1,007.74 |
J. Doer | $15.00 | 20 | 0 | $300.00 | $ - | $18.00 | $318.00 | $12.41 | $5.98 | $31.80 | $159.00 | $108.81 |
L. Fickle | $12.50 | 37.5 | 8.5 | $468.75 | $159.38 | $37.69 | $665.81 | $29.63 | $12.52 | $119.85 | $79.90 | $423.91 |
N. Host | $18.00 | 37.5 | 4 | $675.00 | $108.00 | $46.98 | $829.98 | $37.75 | $15.60 | $149.40 | $99.60 | $527.63 |
P. Jules | $19.25 | 37.5 | 0 | $721.88 | $ - | $43.31 | $765.19 | $34.55 | $14.39 | $137.73 | $91.82 | $486.70 |
R. Landing | $25.00 | 5 | 0 | $125.00 | $ - | $7.50 | $132.50 | $3.23 | $2.49 | $ - | $ - | $126.78 |
Total | 175 | 12.5 | $3,790.63 | $267.38 | $243.48 | $4301.48 | $192.94 | $80.87 | $724.98 | $621.12 | $2681.57 |
Use the information in this table to answer the following questions.
Use the payroll register provided to create the journal entry to record the employer expenses related to Canada Pension Plan contributions, Employment Insurance premiums, Vacation pay and Workers compensation premiums (assume the company pays based on the average Ontario premium rate of $2.46 per $100 of payroll). Ignore the requirement for account numbers for this question.
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