Scoot Scooters has four employees who are paid on an hourly basis, plus time and a half
Question:
Scoot Scooters has four employees who are paid on an hourly basis, plus time and a half for hours in excess of 40 hours a week. Payroll data for the week ended February 17 follow:
Instructions
a. Prepare a payroll register for the weekly payroll.
b. Record the payroll on February 17 and the accrual of employee benefits expense. Assume the company accrues 4% for vacation pay.
c. Record the payment of the payroll on February 17.
d. Record the payment of the remittances to the Receiver General on March 15.
e. Describe a control that should be included as part of the payroll functions preparing the payroll and paying the payroll.
Does the owner of a proprietorship have to deduct CPP, EI, and income taxes from his or her own drawings?
Step by Step Answer:
Accounting Principles Volume 2
ISBN: 9781119786634
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak