Assume that payroll records of GG Shoes provided the following salary information for the weekly pay period ended December $13,2024$:

A B C D E F G H

EMPLOYEE HOURS WORKED $40$ HOURS WEEKLY EARINGS INCOME TAX CANADA PENSION PLAN EMPLOYEEMENT INSURANCE UNITED WAY YEAR TO DATE EARNINGS AT END OF PREVIOUS WEEK

LOIC POPOVICH $ $45\mathrm{.}00$ $ $730\mathrm{.}00$ $ $62\mathrm{.}85$ $ $43\mathrm{.}58$ $ $13\mathrm{.}70$ $ $16\mathrm{.}00$ $$19,130\mathrm{.}00$

JASMINE REEF $ $50\mathrm{.}00$ $ $600\mathrm{.}00$ $ $73\mathrm{.}25$ $ $41\mathrm{.}29$ $ $13\mathrm{.}04$ $ $16\mathrm{.}00$ $$28,400\mathrm{.}00$

YASSINE TAOUFIK $ $49\mathrm{.}00$ $ $850\mathrm{.}00$ $ $184\mathrm{.}10$ $ $-$ $ $-$ $ $40\mathrm{.}00$ $$64,275\mathrm{.}00$

JESSY NGUYEN $ $30\mathrm{.}00$ $ $810\mathrm{.}00$ $ $42\mathrm{.}60$ $ $40\mathrm{.}48$ $ $12\mathrm{.}80$ $ $4\mathrm{.}00$ $ $8,966\mathrm{.}00$

Loic Popovich and Jessy Nguyen work in the office, and Jasmine Reef and Yassine Taoufik are sales staff. All employees are paid time and a half for hours worked in excess of $40$ hours per week. Show computations. Explanations are not required for journal entries.

Required

$1.$ Enter the appropriate information in a payroll register similar to Exhibit $118.$

$2.$ Record the payroll information in the general journal, crediting net pay to Cash.

$3.$ The employers payroll costs are calculated by matching each employees CPP contribution and paying $1\mathrm{.}4$ times the employees EI premium. Record the employers payroll costs in the general journal.

$4.$ Why is no CPP or EI deducted for Taoufik?

$5.$ What would be the vacation pay liability for GG Shoes for this period?

Answer rating: 100% (QA)

Payroll Register Employee Name Hours Worked Regular Pay Overtime Pay Gross Pay Income Tax CPP EI Oth... View the full answer