The following information as to earnings and deductions for the weekly pay period ended March 9 was taken from a company's payroll records: Employees' Names Hellen Craig Joseph Lin Dino Patelli Sharleen McFee Employee Hellen Craig Joseph Lim Dino Patelli Sharleen McFee Totals Weekly Gross Pay $ 960 850 1,070 1,940 $4,820 $ Required: 1. Calculate the employees' El and CPP withholdings and the amounts paid to each employee. (Do not round intermediate calculations. Round the final answers to 2 decimal places.) Earnings to End of Previous Income Week Taxes $12,510 $168.70 Gross Pay 13,200 142.65 18,860 32,380 EI Premium 36.00 195.25 35.00 469.25 36.00 $975.85 $143.00 Health Insurance. Deductions $36.00 Deductions Income Taxes $168.70 960.00 850,00 1,070.00 1,940.00 $ 4,820.00 $ 0.00 S 975.85 $ 142.65 195.25 469.25 Health Total Insurance. Deductions $36.00 36.00 35.00 36.00 0.00 $ 143.00 $ CPP 0.00 $ Net Pay 0.00

Q: Define Assigning.

A: Assigning is a process of assignment. Assignment means a transfer of a right to receive a…

Q: Which of the following can be used to link two tables together? Select one: a. Primary Key b.…

A: Foreign key is a column or group of columns in a relational database table that provides a link…

Q: Show how to insert formula in excel

A: Perpetuity: It is a stream of cash flow that is presumed to continue for an indefinite period.

Q: For what reasons is the NPV technique preferable to IRR?

A: The Net Present Value (NPV) technique is a financial evaluation method used to assess the…

Q: Natarajan, Inc. had the following operating segments, with the in Segment Expenses $ 650,000…

A: We must contrast the segment revenues with the sum of the revenues of all other segments in order to…

Q: can you hand write it instead of using excel

A: Here,Risk Free Rate is 3%Standard Deviation of Optimal Risky Portfolio is 20%Expected Return of…

Q: Please correct the aswer

A: The current yield of the bond is referred to as the relationship between the annual coupon amount…

Q: What does the blank section post mean or what goes there

A: Post Column : It is the Column through which book keeper identify whether journal entries are…

Q: Could you explain without using the excel?

A: The face value of the bond is $1,000. The coupon rate is 2%. The period is 6 years. The interest…

Q: answer is incorrect, pls recheck

A: Statement of Comprehensive Income: Comprehensive income is a measure of the changes in owners'…

Q: not use ai please

A: To manually divide  110  by  39.37  using long division, follow these steps: Step 1: SetupDivide…

Q: I cannot use excel. please caculate manually

A: Given: Initial salary is $42,200 Salary rise after first year to $45,400 Inflation average is 3%

Q: Prepare the entry for the issuance under the following assumptions. (List all debit entries before…

A: The journal entries are prepared to record the transactions on regular basis. The cash received in…

Q: In a data visualization, the vertical axis typically shows __________.   Multiple Choice   values…

A: A column chart will include data labels along the horizontal (X) axis with measured metrics or…

Q: B. Working trial ba C. Control accoun

A: The correct answer is  a. Lead schedule

Q: State the meaning of incomplete records?

A: Accounting refers to the process through which the financial transactions related to a business are…

Q: What is meant by Authorized and issued captial?

A: Meaning of Authorised capital  stock:Authorised stock refers to the maxinum number of preferred…

Q: Define management by exception.

A: Management by exceptions: Management by exceptions determines that the managers should not focus if…

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.