Ahmad Company has the following data for the weekly payroll ending May 31: Employees are paid 1.5
Question:
Employees are paid 1.5 times the regular hourly rate for all hours worked over 40 hours per week. Ahmad Company must make payments to the workers' compensation plan equal to 2% of the gross payroll. In addition, Ahmad matches the employees' health insurance contributions and accrues vacation pay at a rate of 4%.
Instructions
(a) Prepare the payroll register for the weekly payroll. Calculate each employee's EI deduction at a rate of 1.83% of gross pay.
(b) Record the payroll and Ahmad Company's employee benefits.
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Related Book For
Accounting Principles Part 2
ISBN: 978-1118306796
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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