Accounting II AC2034

ASSIGNMENT 2 PAYROLL

Please Note: This assignment is an INDIVIDUAL assignment

The payroll records of Acme Company provided the following information for the weekly pay period ended March 20, 2020:

Employee Employee Hours Worked Rate of Pay Hospital Union Earnings to End

Name No For Week Insurance Dues of Previous Week

Bugs Bunny 40 40 $34 $30.00 $12.00 $43,000

Sylvester 50 42 36 30.00 12.00 42,100

Tweety Bird 60 40 36 30.00 12.00 28,000

Yosemite Sam 70 40 30 30.00 12.00 32,000

Wile E Coyote 80 40 30 30.00 12.00 36,000

Totals $ 150.00 $ 60.00

Required:

1. Enter the relevant information in the proper columns of a payroll register and complete the register; calculate CPP and EI deductions. Charge the wages of Sylvester to Office Wages Expense and the wages of the remaining employees to Service Wages Expense. Calculate income tax deductions at 20% of gross pay. Employees are paid an overtime premium of 50% for all hours in excess of 40 per week. (30 Marks)

2. Prepare all general journal entries to record the payroll register information, including the employers expenses and the payment to the Receiver General. (20 Marks)

Payroll Register
Payroll Period March 14-March 20, 2020							DEDUCTIONS
NAME	EMPLOYEE NUMBER	HRS WORKED FOR WEEK	RATE OF PAY	REGULAR PAY	OVERTIME PAY	GROSS EARNINGS	CPP	EI	INCOME TAX	HOSPITAL INSURANCE	UNION DUES	TOTAL DEDUCTIONS	NET PAY
BUGS BUNNY	40	40	$ 34.00
SYLVESTER	50	42	$ 36.00
TWEETY BIRD	60	40	$ 36.00
YOSEMITE SAM	70	40	$ 30.00
WILE E COYOTE	80	40	$ 30.00