Sure Value Hardware has four employees who are paid on an hourly basis, plus time and a half for hours worked in excess of 40 hours a week. Payroll data for the week ended March 14, follow: 

Instructions 

a. Prepare a payroll register for the weekly payroll. 

b. Record the payroll on March 14 and the accrual of employee benefits expense. Assume the company accrues 4% for vacation pay. 

c. Record the payment of the payroll on March 14. 

d. Record the payment of remittances to the Receiver General on April 15. 

e. Describe a control that should be included as part of the payroll functions timekeeping, preparing the payroll, and paying the payroll for Sure Value Hardware.

Does the owner of a proprietorship need to deduct CPP, EI, and income taxes on his or her drawings? 

Transcribed Image Text:

Employee I. Dahl F. Gualtieri G. Ho A. Israeli Total Hours 37.5 42.5 43.5 45.0 Hourly Rate $17.00 16.50 15.50 15.00 CPP $31.08 35.63 34.56 35.16 EI $10.07 11.41 11.08 11.26 Income Tax $58.05 83.90 84.50 136.85 United Way $7.50 8.00 5.00 10.00