The following is a payroll sheet for Blossom Golf Corporation for the first week of November 2020. The EI rate is 1.66% and the maximum annual deduction per employee is $858.22. The employers obligation for EI is 1.4 times the amount of the employee deduction. Assume a 15% income tax rate for all employees, and a 4.95% CPP premium charged to both the employee and employer, up to an annual maximum of $2,593.80 per employee. Union dues are 1% of earnings. Blossom is a private corporation following ASPE.

Part 1:Complete the payroll sheet and prepare the necessary entry to record the payment of the payroll. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when the

Name

Earnings to Oct. 31

1st Week Nov. Earnings

Income Tax Deducted

CPP

EI

Uninion Dues

A

34,400

800

B

32,680

760

C

54,610

1270

D

5,700

950

Total

Journals: Dr Cr

Part 2) Prepare the entry to record the employers payroll tax expense. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

journals: Dr Cr

Part 3)Prepare the entries to record the payment of the payroll liabilities (1) to the Receiver General for Canada and (2) to the employees union. Assume that Blossom pays all payroll liabilities at the end of each month. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Journals: Dr Cr

Part 4)

What is the total expense that Blossom will report for the first week of November 2020 relative to employee compensation? What percentage of gross pay is the payroll tax expense? (Round total cost for first week to 2 decimal places, e.g. 52.75 and percentage to 1 decimal place, e.g. 7.5%.)

Total cost first week of November 2020 =?

Percentage of payroll tax expense to gross pay = ?

Will the percentage be a constant for all pay period ?