You are an employee working for ABC Bookkeeping Inc. This is a small business environment with a team of 4 people including you. The Director/Owner of the business is very hands on and enjoys having one on one meetings for client issues and resolutions.

The Director has a meeting with you in the morning and instructs you to refund tax filing fees of $1400 for Bumble Bee Day Care Inc. Due to the current situation with Corona virus, the day care has decided to suspend its tax filing until a later date. Bumble Bee will instead use its fee payments to pay its workers that are currently in isolation.

Bumble Bee Day Care Inc. has requested to know when their tax deadline is as per new CRA regulations for business and personal taxes. They have also requested to know if they are eligible for any of the government relief programs being offered for Corona virus affected business. Bumble Bee Day Care has earnings of $150,000 per year and employs 4 employees at the minimum hourly wage. They have not laid off any employees.

The Director has also asked you to prepare payroll for a new employee that joined 3 weeks ago but was missed in the last pay cycle (Feb 15^th, 2018) due to self isolation. Crystal works for $15 an hour @ 40 hours a week for Biweekly pay. Prepare payroll for her using the Payroll Deductions Online Calculator. Show your journal entries for the employee pay cheque and another set for the employer remittances on behalf of the employee.

Alternatively, calculate the same pay cheque in Quickbooks Desktop 2018 and submit a pdf pay cheque dated Feb 15^th 2018 (Quickbooks 2018).

The Director wants to increase the number of calculations per client on their financial statements. Give the Director a list of formulas applicable to financial statements that you learned in your College Diploma and a brief explanation of what each formula can achieve/show.

1: Your research into tax deadlines for Business taxes and Personal Taxes during this pandemic VS regular times. What is the effect of new deadlines, if any?

2: Governments grant/subsidies/loans to businesses and individuals in this dire situation. Does Bumble Bee Inc. or its owner/workers qualify for any of these programs? If yes, which ones and why?

3: Journal entries showing reversing out tax filing fees to pay the missed employee and other staff and any other journal entries necessary to show this transaction

4: Show screenshots clearly showing your Payroll Deductions Online Calculator inputs and answer

5: Show QuickBooks calculation of payroll for the period stated. Print cheques as pdf to be submitted with assignment

6: Provide a list of formulas for the director that can be potentially used and detail the use/efficacy of each one briefly

7: Do day cares get any subsidies from Alberta government or Federal government? If yes, then why?