Question

The payroll information for Jaspers Rock Climbing for the week ended July 3, 2015, is given below.
The following rates apply to deductions for all employees: CPP, 4.95%; EI, 1.83%; provincial income tax, 10%; federal income tax, 15%, Registered Retirement Savings Plan (RRSP), 5%. The overtime premium is calculated at a rate of 1.5 times the regular rate for all hours worked in excess of 40 hours per week. None of the employees has reached the ceiling for CPP or EI.
Instructions
1. Complete a payroll register similar to the one in Exhibit 10.
2. Journalize the entry to record the payroll for the week.
3. Journalize the entry to record the issuance of the cheques to the employees.
4. Journalize the entry to record the employer payroll expenses for the week.


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  • CreatedSeptember 15, 2015
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