ACCT 105 Assignment #6

1. Chapter 10

The payroll clerk for Marlins Maps Co. has assembled the following data for the companys three employees and has asked you to complete the payroll register. Hours in excess of 8 hours in any day and over 40 in anyweek are paid at time-and-a-half. Income tax is calcuated at 20%, CPP at 5.70% and EI at 1.58%. Remember to take into consideration the $3,500 exemption for CPP, as well as the maximums for both CPP and EI.

You must:

1. Complete the payroll summary for the week ending November 30.
2. Prepare the entry necessary to record the payroll.

Employee	Daily Time	Rate of Pay	Dept.	CPP to Date	Medical
	M	T	W	T	F	S
Marcus*							$1375.00/week	Mgr.	$3499.80	40
Mahima	-	8	9	10	12	5	$30.00/hr	Office	$3481.75	35
Malik	8	9	8	9	8	3	$23.00/hr	Office	$2967.09	35

*Marcus has a weekly salary. This employee has already earned $65,300 so far this year.

Date	Account Title and Description	Post. Ref.	DR.	CR.

Calculations for Weekly Earnings:

II. Chapter 11

Payroll data for The Candy Co. For the month of June is shown below:
Employee	Salary	Income Tax	CPP	EI	Union	Charitable	Health	Net Pay
Sweeti	3280	404	148	62	28	36	15	2587
Candi	3160	424	142	59	28	36	15	2456
Cherri	2600	300	114	48	28	36	15	2059
Jelli	3118	396	139	58	28	36	15	2446
	12158	1524	543	227	112	144	60	9548
Candy Co doubles the employee's charitable contributions to Save the Children Canada and matches the employees medical contributions.
Required:
1. Record the company's benefits expense for the month of June.
2.In July, the Candy Co. Issued the following four remittance cheques:
	a. July 10, to the Employee's Union, cheque no. 495
	b. July 15, to the Provincial Health Care Insurance Company, cheque no. 502
	c. July 15, to the CRA, cheque no. 503
	d. July 25, to Save the Children Canada, cheque no. 531
How much was each cheque for?
3. What journal entries would be made to record the four cheques in part 2 above?

GENERAL JOURNAL

Page 8

Date	Account Title and Description	Post Ref.	DR.	CR.

Cheque No.
Total

Cheque No.
Total
Cheque No.
Total
Cheque No.
Total
GENERAL JOURNAL

Page 9

Date	Account Title and Description	Post Ref.	DR.	CR.