Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The payroll records of Russon Company's district office provided the following information for the weekly pay period ended November 27, 2019. All employees are paid
The payroll records of Russon Company's district office provided the following information for the weekly pay period ended November 27, 2019. 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 El. Employee Hours Worked Hourly Rate Income Tax CPP El Union Dues Clay York 43 $14.00 $62 $28 $10 $10 Karen Cooper 48 $18.00 $94 $44 $15 $10 Jessie Moore 48 $18.00 $94 $44 $15 $10 Karen Krigner 46 $17.00 $83 $39 $13 $10 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 Union Dues CPP EI Clay York $ Karen Cooper $ Jessie Moore $ Karen Krigner $ Totalb) Prepare the payroll journal entries for November 27, 2019, assuming they will be paid later. 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 2019 Nov 27 # Record payroll Nov 27 Record additional employer expenses c) Prepare a journal entry to record the cash payment of the payroll liabilities due to the CRA on December 15, 2019. Date Account Title and Explanation Debit Credit 2019 Dec 15 Pay payroll liabilities due to CRA
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started