Because it is the end of the calendar year, Tony Freedman knows that, in addition to recording the normal entries for December 2013, he will need to complete certain tasks that relate to payroll. Specifically, he will need to prepare T4 slips for his two employees, and then complete the T4 Summary for the year (remember that he has had employees for only two months).
Assignment

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Record the employer's share of payroll benefits for the previous month of November. Refer to the work that you completed for the end of November (Chapter 8) for the details you need to complete this task. Paid the two employees their wages: L. Klumm, 43 hours, and A. Hall, 34 hours (cheques No. 266 and No. 267) Received the balance of the amount due from Vita Needle Company, November 1, 2010, invoice No. 12685. Received invoice No. 4668 from City Newspaper re advertising seasonal specials, due in 30 days, $480 Received December telephone bill from West Bell Canada, $165 Paid the two employees their wages: L. Klumm, 40 hours, and A. Hall, 42 hours (cheques No. 268 and No. 269) Paid telephone bill received November 9, $150 (cheque No. 270) Collected amount owing by Accu Pac, Inc., re November 4 invoice No. 12687 Purchased the remaining goods for resale of a friend's computer sales operation for cash, $7,000 (cheque No. 271) Paid amount due to CRA re November wages, $1,692.56 (cheque No. 272) Paid amount due to System Design Furniture re November 4 Nov. 30 Dec. 6 9 10 11 13 13 13 13 13 16 urchase (its invoice No. 8771), $1,400 (cheque No. 273) Purchased on account from Alpha Office Co., supplies totalling $318, its invoice No. 8161 (purchase order No. 4015), due within 30 days. Paid the two employees their wages: L. Klumm, 34 hours, and A. Hall, 36 hours (cheques No. 275 and No. 276). Billed Carson Engineering Corp. for major project involving 28 ot its computers, $8,750, invoice No. 12688. Paid overdue utilities bill for November and December, $486, to City Electric (cheque No. 277) Paid the two employees their wages to noon today: L. Klumm 32 hours, and A. Hall, 38 hours (cheques No. 278 and No. 279) Because of seasonal factors, these are their final cheques this calendar year (office closed until January 2, 2014) Received $5,495 cash from Augustana Co. for services. Invoice No. 12689 Record the employer's share of payroll benefits for the month of December. Refer to the details of your payroll journal in order to complete this task. 17 20 20 23 24 30 31