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Water Cruises rents canoes and other water crafts to campers and hikers. On January 1 5 , 2 0 2 0 , Water Cruises prepared
Water Cruises rents canoes and other water crafts to campers and hikers. On January Water Cruises prepared their semimonthly payroll for their employees. The current CPP rate is the current EI rate is and the appropriate income tax rate is The employer pays half of the health care premium, and the employees pay the other half. Assume the employer contributes toward CPP and toward EI Payroll information for January is listed below. Employee Total Hours Hourly Rate Total Health Care M Swift $ $ S Current $ $ B Wavey $ $ Do not enter dollar signs or commas in the input boxes. Round your answer to decimal places. a Calculate gross and net pay for each employee. Payroll Register Deductions Employee Gross Income Tax CPP EI Health Care Total Deductions Net Pay M Swift $Answer $Answer $Answer $Answer $Answer $Answer $Answer S Current $Answer $Answer $Answer $Answer $Answer $Answer $Answer B Wavey $Answer $Answer $Answer $Answer $Answer $Answer $Answer Total $Answer $Answer $Answer $Answer $Answer $Answer $Answer Remember to properly account for the $ exemption b Calculate the employer contributions. Employer Contributions CPP $Answer EI $Answer Health Care $Answer c Prepare the payroll journal entries for January to record the salaries payable to the employees and accrue the employer contributions. 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 Jan Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Record payroll Jan Answer Answer Answer Answer Answer Answer Answer Answer Record additional employer expenses d Prepare the entry to pay the employees on January Date Account Title and Explanation Debit Credit Jan Answer Answer Answer Answer Pay employees e Prepare the entry to pay the liability to the health insurance company on January Date Account Title and Explanation Debit Credit Jan Answer Answer Answer Answer Pay health care liability f Prepare the entry to pay the liabilities to the government on February Date Account Title and Explanation Debit Credit Feb Answer Answer Answer Answer Answer Answer Answer Answer Pay payroll liabilities to the government
Water Cruises rents canoes and other water crafts to campers and hikers. On January Water Cruises prepared their semimonthly payroll for their employees. The current CPP rate is the current EI rate is and the appropriate income tax rate is The employer pays half of the health care premium, and the employees pay the other half. Assume the employer contributes toward CPP and toward EI Payroll information for January is listed below.
Employee Total Hours Hourly Rate Total Health Care
M Swift $ $
S Current $ $
B Wavey $ $
Do not enter dollar signs or commas in the input boxes.
Round your answer to decimal places.
a Calculate gross and net pay for each employee.
Payroll Register
Deductions
Employee Gross Income Tax CPP EI Health Care Total Deductions Net Pay
M Swift $Answer
$Answer
$Answer
$Answer
$Answer
$Answer
$Answer
S Current $Answer
$Answer
$Answer
$Answer
$Answer
$Answer
$Answer
B Wavey $Answer
$Answer
$Answer
$Answer
$Answer
$Answer
$Answer
Total $Answer
$Answer
$Answer
$Answer
$Answer
$Answer
$Answer
Remember to properly account for the $ exemption
b Calculate the employer contributions.
Employer Contributions
CPP $Answer
EI $Answer
Health Care $Answer
c Prepare the payroll journal entries for January to record the salaries payable to the employees and accrue the employer contributions.
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
Jan Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Record payroll
Jan Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Record additional employer expenses
d Prepare the entry to pay the employees on January
Date Account Title and Explanation Debit Credit
Jan Answer
Answer
Answer
Answer
Pay employees
e Prepare the entry to pay the liability to the health insurance company on January
Date Account Title and Explanation Debit Credit
Jan Answer
Answer
Answer
Answer
Pay health care liability
f Prepare the entry to pay the liabilities to the government on February
Date Account Title and Explanation Debit Credit
Feb Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Pay payroll liabilities to the government
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Managerial Accounting
Authors: John J. Wild, Ken W. Shaw
2010 Edition
9789813155497, 73379581, 9813155493, 978-0073379586
