The payroll information for Computer Consultants Co. for the week ended April 24, 2015, is given below.

Question:

The payroll information for Computer Consultants Co. for the week ended April 24, 2015, is given below.
The payroll information for Computer Consultants Co. for the week

The following rates apply to deductions for all employees: CPP, 4.95%; EI, 1.83%; provincial income tax, 10%; federal income tax, 15%; Registered Retirement Savings Plan (RRSP), 5%. The overtime premium is calculated at a rate of 1.5 times the regular rate for all hours worked in excess of 40 hours per week. None of the employees has reached the ceiling for CPP or EI.
Instructions
1. Complete a payroll register similar to the one in Exhibit 10.
2. Journalize the entry to record the payroll for the week.
3. Journalize the entry to record the issuance of the cheques to the employees.
4. Journalize the entry to record the employer payroll expenses for the week.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Accounting

ISBN: 978-0176509743

Volume 1, 2nd canadian Edition

Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,

Question Posted: