These employees have produced the number of pieces indicated during the work- week ending February 22: Julie Robinson 2,300 Katie Friesen 2,290 Jose Sivira 2,310 Joan Flannery 2,350 They are paid according to the following incentive plan: First 1,000 pieces Next 600 pieces Next 400 pieces Over 2,000 pieces $0.23 each 0.25 each 0.30 each 0.35 each (a) Complete the Piecework Payroll Record. Look up the payroll deduc- tions from the tables illustrated in Figures 10.2, 10.3, 10.4, and 10.5. All employees are single with no dependants, so Claim Code 1 will be used in the federal and provincial income tax tables. Company pension is 3% of gross pay. (b) Total and prove the payroll record. (c) Record a General Journal entry on February 22 for the payroll. (d) Record a General Journal entry on February 22 for the employer's con- tributions to CPP, EI, and company pension. The employer contributes an equal amount to the company pension. (e) Record an entry in the Cash Payments Journal on February 25 to issue the paycheques. The first paycheque is #88. (f) Record an entry in the Cash Payments Journal for the remittance to CRA and to the insurance company for the company pension plan. Assume both remittances are to be recorded on March 14. Issue cheques #107 and 108.
These employees have produced the number of pieces indicated during the work- week ending February 22: Julie Robinson 2,300 Katie Friesen 2,290 Jose Sivira 2,310 Joan Flannery 2,350 They are paid according to the following incentive plan: First 1,000 pieces Next 600 pieces Next 400 pieces Over 2,000 pieces $0.23 each 0.25 each 0.30 each 0.35 each (a) Complete the Piecework Payroll Record. Look up the payroll deduc- tions from the tables illustrated in Figures 10.2, 10.3, 10.4, and 10.5. All employees are single with no dependants, so Claim Code 1 will be used in the federal and provincial income tax tables. Company pension is 3% of gross pay. (b) Total and prove the payroll record. (c) Record a General Journal entry on February 22 for the payroll. (d) Record a General Journal entry on February 22 for the employer's con- tributions to CPP, EI, and company pension. The employer contributes an equal amount to the company pension. (e) Record an entry in the Cash Payments Journal on February 25 to issue the paycheques. The first paycheque is #88. (f) Record an entry in the Cash Payments Journal for the remittance to CRA and to the insurance company for the company pension plan. Assume both remittances are to be recorded on March 14. Issue cheques #107 and 108.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:These employees have produced the number of pieces indicated during the work-
week ending February 22:
Julie Robinson
2,300
Katie Friesen
2,290
Jose Sivira
2,310
Joan Flannery
2,350
They are paid according to the following incentive plan:
First 1,000 pieces
Next 600 pieces
Next 400 pieces
Over 2,000 pieces
$0.23 each
0.25 each
0.30 each
0.35 each
(a) Complete the Piecework Payroll Record. Look up the payroll deduc-
tions from the tables illustrated in Figures 10.2, 10.3, 10.4, and 10.5.
All employees are single with no dependants, so Claim Code 1 will be
used in the federal and provincial income tax tables. Company pension
is 3% of gross pay.
(b) Total and prove the payroll record.
(c) Record a General Journal entry on February 22 for the payroll.
(d) Record a General Journal entry on February 22 for the employer's con-
tributions to CPP, EI, and company pension. The employer contributes
an equal amount to the company pension.
(e) Record an entry in the Cash Payments Journal on February 25 to issue
the paycheques. The first paycheque is #88.
(f)
Record an entry in the Cash Payments Journal for the remittance to
CRA and to the insurance company for the company pension plan.
Assume both remittances are to be recorded on March 14. Issue
cheques #107 and 108.
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