Question
Take me to the text The payroll records of Russon Restaurant provided the following information for the weekly pay period ended July 27, 2020. All
Take me to the text
The payroll records of Russon Restaurant provided the following information for the weekly pay period ended July 27, 2020. All employees are paid 1.5 times their hourly wage for hours worked in excess of 40 hours per week. The company contributes 100% for its share of CPP, and 140% of EI.
Employee | Hours Worked | Hourly Rate | Controlled Tips | Income Tax | CPP | EI |
Karen Cooper | 47 | $16.00 | $320 | $226 | $55.69 | $17.82 |
Caron Prosser | 38 | $18.00 | $220 | $181 | $43.93 | $14.28 |
Jonas Brittany | 46 | $14.00 | $290 | $195 | $47.71 | $15.42 |
Stephen James | 45 | $18.00 | $210 | $213 | $52.38 | $16.83 |
Do not enter dollar signs or commas in the input boxes. Round your answer to 2 decimal places.
a) Calculate gross and net pay for each employee.
Payroll Register | |||||||
Deductions | Employer's Cost | ||||||
Employee | Gross | Income Tax | CPP | EI | Net Pay | CPP | EI |
Karen Cooper | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer |
Caron Prosser | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer |
Jonas Brittany | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer |
Stephen James | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer |
Total | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer |
b) Prepare the payroll journal entries for July 27, 2020. The employees will be paid at a later date.
For transactions with more than one debit or more than one credit, enter the debit accounts in alphabetical order followed by credit accounts in alphabetical order.
Date | Account Title and Explanation | Debit | Credit |
2020 | |||
Jul 27 | AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | |
AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | ||
AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | ||
AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | ||
AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | ||
Record payroll | |||
Jul 27 | AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | |
AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | ||
AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | ||
Record additional employer expenses |
c) Prepare a journal entry to record the cash payment of the payroll liabilities due to the CRA on August 15, 2020.
Date | Account Title and Explanation | Debit | Credit |
2020 | |||
Aug 15 | AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | |
AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | ||
AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | ||
AnswerAccounts PayableAccounts ReceivableCanada Pension Plan PayableCashCharitable Donations PayableEmployee Benefits ExpenseEmployment Insurance PayableHealth Care PayableIncome Tax PayableSalaries & Wages ExpenseSalaries PayableVacation Pay ExpenseVacation Pay PayableWorkers' Compensation Payable | Answer | ||
Pay payroll liabilities due to CRA | |||
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