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The November 15, 2021, monthly payroll run for Nod Company needs processing. The company wants your help to prepare the necessary payroll calculations. The
The November 15, 2021, monthly payroll run for Nod Company needs processing. The company wants your help to prepare the necessary payroll calculations. The company has a health plan, to which it contributes 1.6 times the employee contributions. Use the following information to prepare the necessary payroll calculations: Employee Darshan Kaur Sandeep Patel Mary Lee Sarah James Total CPP Rate: El Rate: Gross Pay $764 $725 $907 $1,578 $3,974 5.45% 1.58% YTD Earnings $8,915 $10,826 $12,801 $36,722 $69,264 Income taxes $101 $ 80 $151 $453 $785 Max CPP earnings: Max El earnings: CPP Exempt: Health Insurance Premiums $23 $23 $35 $23 $104 $61,600 $56,300 $3,500 Required: Nod Company needs you to prepare the entire monthly payroll for November 15, 2021, including the employer costs of El and CPP and net pay for all employees. Provide the general joumal entries to be recorded for November 15, 2021. (14 marks)
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Workings Employee DK SP ML SJ Totals DK SP ML SJ Date Nov 15 Date Nov 15 Date Nov 15 CPP 545 76400 4...Get Instant Access to Expert-Tailored Solutions
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