Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The payroll records of Acme Company provided the following information for the weekly pay period ended March 20, 2020: EmployeeEmployeeHours WorkedRate of PayHospital UnionEarnings to

The payroll records of Acme Company provided the following information for the weekly pay period ended March 20, 2020:

EmployeeEmployeeHours WorkedRate of PayHospital UnionEarnings to End

NameNoFor WeekInsurance Duesof Previous Week

Bugs Bunny 4040$34$30.00$12.00$43,000

Sylvester50423630.0012.0042,100

Tweety Bird 60 403630.0012.0028,000

Yosemite Sam70403030.0012.0032,000

Wile E Coyote80403030.0012.0036,000

Totals $ 150.00$ 60.00

Required:

1.Enter the relevant information in the proper columns of a payroll register and complete the register;calculate CPP and EI deductions.Charge the wages of Sylvester to Office Wages Expense and the wages of the remaining employees to Service Wages Expense.Calculate income tax deductions at 20% of gross pay.Employees are paid an overtime premium of 50% for all hours in excess of 40 per week. (30 Marks)

2.Prepare all general journal entries to record the payroll register information, including the employer's expenses and the payment to the Receiver General. (20 Marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Financial Accounting

Authors: Arne E. Jorgensen

1st Edition

8759340886, 9788759340882

More Books

Students also viewed these Accounting questions

Question

n recognise that communication has rational and emotional aspects;

Answered: 1 week ago