You are an employee working for ABC Bookkeeping Inc. This is a small business environment with ateam
Question:
You are an employee working for ABC Bookkeeping Inc. This is a small business environment with ateam of 4 people including you. The Director/Owner of the business is very hands on and enjoys havingone on one meetings for client issues and resolutions.The Director has a meeting with you in the morning and instructs you to refund tax filing fees of $1400for Bumble Bee Day Care Inc. Due to the current situation with Corona virus, the day care has decided tosuspend its tax filing until a later date. Bumble Bee will instead use its fee payments to pay its workersthat are currently in isolation.Bumble Bee Day Care Inc. has requested to know when their tax deadline is as per new CRA regulationsfor business and personal taxes. They have also requested to know if they are eligible for any of thegovernment relief programs being offered for Corona virus affected business. Bumble Bee Day Care hasearnings of $150,000 per year and employs 4 employees at the minimum hourly wage. They have notlaid off any employees.The Director has also asked you to prepare payroll for a new employee that joined 3 weeks ago but wasmissed in the last pay cycle (Feb 15th, 2018) due to self isolation. Crystal works for $15 an hour @ 40hours a week for Biweekly pay. Prepare payroll for her using the Payroll Deductions OnlineCalculator.Show your journal entries for the employee pay cheque and another set for the employer remittanceson behalf of the employee.Alternatively, calculate the same pay cheque in Quickbooks Desktop 2018 and submit a pdf pay chequedated Feb 15th 2018 (as you have Quickbooks 2018 installed).The Director wants to increase the number of calculations per client on their financial statements. Givethe Director a list of formulas applicable to financial statements that you learned in your CollegeDiploma and a brief explanation of what each formula can achieve/show.
The Legal Environment of Business A Critical Thinking Approach
ISBN: 978-0132664844
6th Edition
Authors: Nancy K Kubasek, Bartley A Brennan, M Neil Browne