495 Continuing Problem In preparing for next year, Tony Freedman has hired two employees to work on an hourly ba- sis assisting with some troubleshooting and repair work. (Excel templates for this Continu- ing Problem are available on MyLab Account- ing.) Assume the following details: a. The following accounts have been added to the chart of accounts: Wages Expense, 5110; Income Taxes Payable, 2020; CPP Payable, 2030; EI Payable, 2040; and Wages Payable, 2010. b. CPP is deducted at 5.10% (considering $3,500 yearly exemption). c. El is deducted at 1.62% of gross earnings. d. Both employees pay income taxes at a rate of 20%. e. Each employee earns $20 an hour and Assume the following details: a. The following accounts have been added to the chart of accounts: Wages Expense, 5110; Income Taxes Payable, 2020; CPP Payable, 2030, EI Payable, 2040; and Wages Payable, 2010. b. CPP is deducted at 5.10% (considering $3,500 yearly exemption). c. El is deducted at 1.62% of gross earnings. d. Both employees pay income taxes at a rate of 20%. e. Each employee earns $20 an hour and is paid time-and-a-half for hours worked in excess of 40 weekly. Comprehensive problem: recording and posting transac- tions, including preparing the payroll register and preparing a trial balance 02 (20 min) Assignment Assignment 1. Record the partial transactions listed below in the appropriate journal and post to the general ledger. 2. Prepare a payroll register. 3. Prepare a trial balance as of November 30, 2022. X Tap to view 496 Schedule of Accounts Receivable Preci- sion Computer Centre October 31, 2022 Schedule of Accounts Receivable Preci- sion Computer Centre October 31, 2022 Carson Engineering $ 6,240.00 Antony Pitale 1,600.00 Taylor Golf 4.500.00 Total Amount Due $12,340.00 Schedule of Accounts Payable Precision Computer Centre October 31, 2022 City Newspaper $375.00 Staples 250.00 Total Amount Payable $625.00 X Continuing Problem Nov. Billed Vita Needle Company 55,800, invoice No. 12686, for services rendered - Billed Accu Pac, Inc. $3,900, invoice No. 12587, for services rendered. 5 Purchased new shop benches. $1,400 on account from System Design Fumitura invoice No. 8771) purchase order No. 4013. * Paid the two employees wages: Lance Kumm. 8 hours and Aurelle Hall, 42 hours tcheques No. 258 and No. 259 11 Received the phone bill, $150. 12 Collected $500 of the amount due trom Taylor Goit. Paid the two employees wages: Lancem 34 hours and Aurelle alt 36 hours (cheques No. 260 and No.2013 18 Collected $800 of the amount due from Taylor Golt 19 Purchased a photo copier for the office from MultiSystems Inc. on credit, SASO invoice No. 1784 purchase order No 4014 22 Paid the two employees wages: Lance Klemm, 32 hours and Aurelle Hall 35 hours (cheques No. 262 and No.763). 25 Collected half of the amount due from Vita Needle Company re Non 1 transaction 29 Paid the two employees wages: Lance Kumm. 3 hours and Aurelle Hall, 44 hours (cheques No. 264 and No. 265) 29 Rent expired for October and November, 5800 495 Continuing Problem In preparing for next year, Tony Freedman has hired two employees to work on an hourly ba- sis assisting with some troubleshooting and repair work. (Excel templates for this Continu- ing Problem are available on MyLab Account- ing.) Assume the following details: a. The following accounts have been added to the chart of accounts: Wages Expense, 5110; Income Taxes Payable, 2020; CPP Payable, 2030; EI Payable, 2040; and Wages Payable, 2010. b. CPP is deducted at 5.10% (considering $3,500 yearly exemption). c. El is deducted at 1.62% of gross earnings. d. Both employees pay income taxes at a rate of 20%. e. Each employee earns $20 an hour and Assume the following details: a. The following accounts have been added to the chart of accounts: Wages Expense, 5110; Income Taxes Payable, 2020; CPP Payable, 2030, EI Payable, 2040; and Wages Payable, 2010. b. CPP is deducted at 5.10% (considering $3,500 yearly exemption). c. El is deducted at 1.62% of gross earnings. d. Both employees pay income taxes at a rate of 20%. e. Each employee earns $20 an hour and is paid time-and-a-half for hours worked in excess of 40 weekly. Comprehensive problem: recording and posting transac- tions, including preparing the payroll register and preparing a trial balance 02 (20 min) Assignment Assignment 1. Record the partial transactions listed below in the appropriate journal and post to the general ledger. 2. Prepare a payroll register. 3. Prepare a trial balance as of November 30, 2022. X Tap to view 496 Schedule of Accounts Receivable Preci- sion Computer Centre October 31, 2022 Schedule of Accounts Receivable Preci- sion Computer Centre October 31, 2022 Carson Engineering $ 6,240.00 Antony Pitale 1,600.00 Taylor Golf 4.500.00 Total Amount Due $12,340.00 Schedule of Accounts Payable Precision Computer Centre October 31, 2022 City Newspaper $375.00 Staples 250.00 Total Amount Payable $625.00 X Continuing Problem Nov. Billed Vita Needle Company 55,800, invoice No. 12686, for services rendered - Billed Accu Pac, Inc. $3,900, invoice No. 12587, for services rendered. 5 Purchased new shop benches. $1,400 on account from System Design Fumitura invoice No. 8771) purchase order No. 4013. * Paid the two employees wages: Lance Kumm. 8 hours and Aurelle Hall, 42 hours tcheques No. 258 and No. 259 11 Received the phone bill, $150. 12 Collected $500 of the amount due trom Taylor Goit. Paid the two employees wages: Lancem 34 hours and Aurelle alt 36 hours (cheques No. 260 and No.2013 18 Collected $800 of the amount due from Taylor Golt 19 Purchased a photo copier for the office from MultiSystems Inc. on credit, SASO invoice No. 1784 purchase order No 4014 22 Paid the two employees wages: Lance Klemm, 32 hours and Aurelle Hall 35 hours (cheques No. 262 and No.763). 25 Collected half of the amount due from Vita Needle Company re Non 1 transaction 29 Paid the two employees wages: Lance Kumm. 3 hours and Aurelle Hall, 44 hours (cheques No. 264 and No. 265) 29 Rent expired for October and November, 5800