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Assignment 2

Kimberly Le
042008144
APP600-NUU
Kazi Alam
Employee #1 – Penguin Ly
Calculations
Annual Salary: $66,000
Paid Bi-Weekly: 2538.46
CPP Deduction: 2538.46 – 134.61 = 2403.85*4.95% = 118.99
EI Deduction: 2538.46*1.88% = 47.72
Federal Tax: 180
Provincial Tax: 130

Payroll Register

Employee Salary CPP EI Fed. Tax Prov. Tax Total Ded. Net Pay
Penguin Ly 2538.46 118.99 47.72 180 130 476.71 2061.75

Employee Journal Entry


Account Debit Credit
Salary Expense 2538.46
CPP Payable 118.99
EI Payable 47.72
Federal Tax Payable 180
Provincial Tax Payable 130
Salary and Wages Payable 2061.75

Employer Journal Entry


Account Debit Credit
CPP Expense 118.99
EI Expense 66.81
Workers Compensation Premium Expense 62.45
Vacation Pay Expense 101.54
CPP Payable 118.99
EI Payable 66.81
Workers Compensation Premium Expense 62.45
Vacation Pay Payable 101.54

T-Account
Salary and Wages Payable
2061.75
2061.75
Employee #2 – George Ly
Calculations
Annual Salary: 32,500
Paid Bi-Weekly: 1250
CPP Deduction: 1250 – 134.61 = 1115.39*4.95% = 55.21
EI Deduction: 1250*1.88%= 23.50
Federal Tax: 120
Provincial Tax: 80

Payroll Register

Employee Salary CPP EI Fed. Tax Prov. Tax Total Ded. Net Pay
George Ly 1250 55.21 23.50 120 80 278.71 971.20

Employee Journal Entry


Account Debit Credit
Salary Expense 1250
CPP Payable 55.21
EI Payable 23.50
Federal Tax Payable 120
Provincial Tax Payable 80
Salary and Wages Payable 971.20

Employer Journal Entry


Account Debit Credit
CPP Expense 55.21
EI Expense 32.90
Workers Compensation Premium Expense 30.75
Vacation Pay Expense 50
CPP Payable 55.21
EI Payable 32.90
Workers Compensation Premium Expense 30.75
Vacation Pay Payable 50

T-Account
Salary and Wages Payable
971.20
971.20
Employee #3 – Sandie Quach
Calculations
Annual Salary: 43,200
Paid Monthly: 3600
CPP Deduction: 3600-291.66=3308.34*4.95%=163.76
EI Deduction: 67.68
Federal Tax: 135
Provincial Tax: 98

Payroll Register

Employee Salary CPP EI Fed. Tax Prov. Tax Total Ded. Net Pay
Sandie Quach 3600 163.76 67.68 135 98 464.44 3155.56

Employee Journal Entry


Account Debit Credit
Salary Expense 3600
CPP Payable 163.76
EI Payable 67.68
Federal Tax Payable 135
Provincial Tax Payable 98
Salary and Wages Payable 3155.56

Employer Journal Entry


Account Debit Credit
CPP Expense 163.76
EI Expense 94.75
Workers Compensation Premium Expense 88.56
Vacation Pay Expense 144
CPP Payable 163.76
EI Payable 94.75
Workers Compensation Premium Expense 88.56
Vacation Pay Payable 144

T-Account
Salary and Wages Payable
3155.56
3155.56
Employee #4 – Brian Nguyen
Calculations
Annual Salary: 52,100
Paid Semi-Monthly: 2170.83
CPP Deduction: 2170.83-145.83=2025*4.95%=100.24
EI Deduction: 2170.83*1.88%=40.81
Federal Tax: 162
Provincial Tax: 109

Payroll Register

Employee Salary CPP EI Fed. Tax Prov. Tax Total Ded. Net Pay
Brian Nguyen 2170.83 100.24 40.81 162 109 412.05 1758.78

Employee Journal Entry


Account Debit Credit
Salary Expense 2170.83
CPP Payable 100.24
EI Payable 40.81
Federal Tax Payable 162
Provincial Tax Payable 109
Salary and Wages Payable 1758.78

Employer Journal Entry


Account Debit Credit
CPP Expense 100.24
EI Expense 57.13
Workers Compensation Premium Expense 53.40
Vacation Pay Expense 86.83
CPP Payable 100.24
EI Payable 57.13
Workers Compensation Premium Expense 53.40
Vacation Pay Payable 86.83

T-Account
Salary and Wages Payable
1758.78
1758.78

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