Take me to the text Sampson Hotel has three employees who are paid on an hourly basis, plus time and one half for hours in excess of 44 hours per week. Payroll information for the week ending August 14, 2020 is listed below. Employee Hours Worked Hourly Rate Income Tax CPP EI B. Penguin $52.65 $24.11 $8.32 J. Michelle $64.44 $30.30 $10.18 T. Cruise $66.80 $31.54 $10.55 Do not enter dollar signs or commas in the input boxes. Round your answers to 2 decimal places. J. Michelle $ a) Calculate gross pay for each employee and the amount the employer will have to pay for CPP and El. Employee Gross Employer CPP Employer El B. Penguin $ T. Cruise Total $ Aug 14 39 36 40 $ Record payroll $13.50 $17.90 $16.70 $ $ Aug 31 $ $ b) Prepare the journal entries for the August 14 payroll and the employer's portion of payroll. Employees will not be paid until next week 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. Account Title and Explanation Date 2020 Aug 14 $ $ ◆ + + + → Record additional employer expenses Debit Credit c) Record the payment of the statutory deductions to the CRA on August 31, 2020. Date Account Title and Explanation Debit Credit 2020 Pay payroll liabilities due to CRA →
Take me to the text Sampson Hotel has three employees who are paid on an hourly basis, plus time and one half for hours in excess of 44 hours per week. Payroll information for the week ending August 14, 2020 is listed below. Employee Hours Worked Hourly Rate Income Tax CPP EI B. Penguin $52.65 $24.11 $8.32 J. Michelle $64.44 $30.30 $10.18 T. Cruise $66.80 $31.54 $10.55 Do not enter dollar signs or commas in the input boxes. Round your answers to 2 decimal places. J. Michelle $ a) Calculate gross pay for each employee and the amount the employer will have to pay for CPP and El. Employee Gross Employer CPP Employer El B. Penguin $ T. Cruise Total $ Aug 14 39 36 40 $ Record payroll $13.50 $17.90 $16.70 $ $ Aug 31 $ $ b) Prepare the journal entries for the August 14 payroll and the employer's portion of payroll. Employees will not be paid until next week 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. Account Title and Explanation Date 2020 Aug 14 $ $ ◆ + + + → Record additional employer expenses Debit Credit c) Record the payment of the statutory deductions to the CRA on August 31, 2020. Date Account Title and Explanation Debit Credit 2020 Pay payroll liabilities due to CRA →
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Take me to the text
Sampson Hotel has three employees who are paid on an hourly basis, plus time and one half for hours in excess of 44 hours per week.
Payroll information for the week ending August 14, 2020 is listed below.
Employee Hours Worked Hourly Rate Income Tax CPP ΕΙ
B. Penguin
$52.65 $24.11 $8.32
J. Michelle
$64.44 $30.30 $10.18
T. Cruise
$66.80 $31.54 $10.55
Do not enter dollar signs or commas in the input boxes.
Round your answers to 2 decimal places.
J. Michelle $
a) Calculate gross pay for each employee and the amount the employer will have to pay for CPP and El.
Employee
Gross
Employer CPP Employer El
B. Penguin $
T. Cruise
Total
$
Aug 14
39
36
40
$
Record payroll
$13.50
$17.90
$16.70
$
$
Aug 31
$
$
b) Prepare the journal entries for the August 14 payroll and the employer's portion of payroll. Employees will not be paid until next week.
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.
Account Title and Explanation
Date
2020
Aug 14
$
$
◆
+
+
→
Record additional employer expenses
Debit
c) Record the payment of the statutory deductions to the CRA on August 31, 2020.
Date
Account Title and Explanation
Debit
Credit
2020
Credit
Pay payroll liabilities due to CRA
◆
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education