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ACCT 1110 - Assignment #7 - Due August 7, 2022 (Total 25 marks) Submit as an individual assignment or working in groups of 3 maximum. If working as a group, one submission by one group member only. You are the payroll administrator for Armtech Inc. Armtech, has been in business for several years. For Statutory withholdings and remittances, you are considered a Regular Remitter (both 2021 and 2022) For WSIB purposes, you are considered a quarterly Remitter (both 2021 and 2022) For EHT purposes, your annual payroll if less than $1,100,000 (for 2021 and 2022) The payroll cycle is bi-weekly. The first pay period in 2022 , is January 2nd to January 15m,2022 Payroll is processed using an outsourced company. Information must be submitted online to the oiftsourced company, the first Monday following the end of the pay period by SPM. If that Monday is a statutory holiday, the payroll information needs to be submitted before 5PM the Friday before. Employees are paid via automatic deposit (as generated by the outsourced company) on the Thursday afler the pay period ends. The outsource company does NOT submit any of the statutory deductions, or EHT, but will include the amounts due in the bi-weekly payroll report. Required: 1. Create a calendar of due dates, and reminders that are payroll related for the period January 1 to June 30,2022 . Include dates for annual WSIB reconciliation, annual EHT reconciliation, journal entries from outsource into company ledger, self, appointed internal deadlines for complefing T4's and TD1's to all employees on an annual basis. (15 marks) 2. Create an internal policy on how you will administer the payroll on weeks where it needs to remitted on the Friday, even though the payroll period does not end until the Saturday. Advise employees that Saturday wages will be esfimated and reconciled (over/under) with the next pay cycle. (5 marks) 3. Create an internal memo to the shop foreman and the office administrator on the timing of their approval to enable you to process the payroll on time. (5 marks. - The timecards need to be approved as follows: - Shop employees - shop foreman - Oflice employees - office administrator - The fimecards are created digitally, thus the Shop foreman and the office administrator have onlne access

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