Part A Brenda Jones worked for Cool Corner Store for straight-time earnings of S 15.00...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Part A Brenda Jones worked for Cool Corner Store for straight-time earnings of S 15.00 per hour with time and a half for hours in excess of 35 hours per week. Brenda Jones' payroll deductions included the following: Income tax of 25% CPP of 4.95% on earnings (Account for the $ 3,500 basic annual exemption.) EI of 1.88% on earnings In addition, Brenda Jones contributed S 20 per week to her Registered Retirement Savings Plan (RRSP). Brenda Jones worked 40 hours during the week. She had not reached the CPP or El maximum earning levels. Required: 1. Calculate Brenda Jones's gross pay and net pay for the week. 2. Make an October 17 journal entry in the general journal to record Cool Corner Store's wage expense for Brenda Jones' work, including her payroll deductions and the employer's payroll costs. Round all amounts to the nearest cent. Explanations are not required. Part A Part A Brenda Jones worked for Cool Corner Store for straight-time earnings of S 15.00 per hour with time and a half for hours in excess of 35 hours per week. Brenda Jones' payroll deductions included the following: Income tax of 25% CPP of 4.95% on earnings (Account for the $ 3,500 basic annual exemption.) EI of 1.88% on earnings In addition, Brenda Jones contributed S 20 per week to her Registered Retirement Savings Plan (RRSP). Brenda Jones worked 40 hours during the week. She had not reached the CPP or El maximum earning levels. Required: 1. Calculate Brenda Jones's gross pay and net pay for the week. 2. Make an October 17 journal entry in the general journal to record Cool Corner Store's wage expense for Brenda Jones' work, including her payroll deductions and the employer's payroll costs. Round all amounts to the nearest cent. Explanations are not required. Part A
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!