Patricia is asking for information on the Nunavut Payroll Tax. Who pays the and how is it calculated? Are there any special considerations or challenges he calculation of the payroll tax for the guides brought in from Alberta, askatchewan and Québec? What are the reporting and remitting requirem 'uring the year? What are the reporting requirements at year-end? Provide xamples based on the information provided in the assignment to clarify,
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- Bramble & Carla Vista Fabricators produces commemorative bricks that organizations use for fundraising projects. Joseph Bramble, the company's vice president of marketing, has prepared the following sales forecast for the first six months of the coming year. The company plans to sell the bricks for $24 each. January February March April May June 25,000 28,000 32,000 34,000 26,000 35,000 Bramble & Hill Fabricators' marketing department has identified the following monthly expenses that will be needed to support the company's sales and administrative functions. Depreciation $14,000 Sales staff salaries $26,000 Advertising $2,400 Executive salaries $35,000 Miscellaneous $1,900 In addition to these monthly expenses, the company will pay a commission to its salespeople equal to 8% of the sales revenue from each brick sold. The company expects bad debt expense to be 2% of sales…Payroll Taxes Its the Tooth Dental works to provide high quality pediatric dental services in a fun-loving environment for children. During December, Its the Tooth Dental employees earned $90,000 in wages. Social Security applied to $86,000 of these wages, while Medicare applies to all at standard rates. Federal and state income taxes withheld were $1,100 and $500, respectively. Required: Provide the necessary journal entries for Its the Tooth Dental to record this activity.Desiccate purchases direct materials each month. Its payment history shows that 70% is paid in the month of purchase with the remaining balance pad the month after purchase. Prepare a cash payment schedule for March if in January through March, it purchased $35,000, $37,000, and $39,000, respectively.
- Budgeting for a Service Firm Refer to the AccuTax Inc. example in the chapter. One of thepartners is planning to retire at the end of the year. May Higgins, the sole remaining partner, plansto add a manager at an annual salary of $90,000. She expects the manager to work, on average, 45hours a week for 45 weeks per year. She plans to change the required staff time for each hour spentto complete a tax return to the following:Business ReturnComplex IndividualReturnSimple IndividualReturnPartner 0.3 hour 0.05 hour —Manager 0.2 hour 0.15 hour —Senior consultant 0.5 hour 0.40 hour 0.2 hourConsultant — 0.40 hour 0.8 hourThe manager is salaried and earns no overtime pay. Senior consultants are salaried but receivetime and a half for any overtime worked. The firm plans to keep all the senior consultants and adjustthe number of consultants as needed including employing part-time consultants, who also are paidon an hourly basis. Higgins has also decided to have five supporting staff at $40,000…Pelican Merchandising & More is a family-owned store. The business is now approaching the end of the year and is in the process of identifying its cash needs for the first quarter of the new year. You are the management accountant of the entity and have been tasked to prepare the cash budget for the business for the quarter ending Mar 31, 2022 Month 2021 - 2022 Cash Sales $ Sales on A/C $ Cash Purchases $ Purchases on A/C $ Nov 2021 138,100 480,000 345,000 Dec 2021 156,500 600,000 25,800 380,000 Jan 2022 170,975 650,000 44,625 400,000 Feb 2022 135,740 700,000 30,400 480,000 Mar 2022 226,420 800,000 55,100 540,000 1 Extracts from the sales and purchases budgets are as follows 2 An analysis of the records shows that trade receivables (accounts receivable) are settled according to the following credit pattern in accordance with the credit terms 4/30, n90 55% in the month of sale 35% in the first month…I only need the Unpaid Expenses x Percent to Pay help. Thank you. Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March). The Accrued Expenses Payable balance on January 1 is $15,000. The budgeted expenses for the next three months are as follows: January February March Salaries $56,900 $ 68,100 $ 72,200 Utilities 2,400 2,600 2,500 Other operating expenses 32,300 41,500 44,700 Total $91,600 $112,200 $119,400 Other operating expenses include $3,000 of monthly depreciation expense and $500 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 70% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for…
- Bonita & Pharoah Fabricators produces commemorative bricks that organizations use for fundraising projects. David Bonita, the company's vice president of marketing, has prepared the following sales forecast for the first six months of the coming year. The company plans to sell the bricks for $24 each. January February March April May June 25,000 28,000 32,000 34,000 26,000 35,000 Bonita & Hill Fabricators' marketing department has identified the following monthly expenses that will be needed to support the company's sales and administrative functions. Depreciation $12,000 Sales staff salaries $29,000 Advertising $2,200 Executive salaries $36,000 Miscellaneous $1,700 In addition to these monthly expenses, the company will pay a commission to its salespeople equal to 8% of the sales revenue from each brick sold. The company expects bad debt expense to be 2% of sales revenue.Prepare…Question 1 Green Enterprises Ltd is preparing to set up a new business on the first of January 2021 to manufacture a single product. Below is the sales budget for the company for the first 6 months of 2021. Sales Budget January February March April May June Sales Unit 8 000 8 500 10 000 11 000 11 500 10 500 Sales Revenue 240 000 255 000 300 000 330 000 345 000 315 000 Additional Information; The Cash collections patterns from sales is expected to be as follows: Cash Customers 30% of sales revenue will be for immediate cash Credit Customers 70% of sales revenue will be from credit customers. These debtors will pay their bills, 50% in the month after sales and the reminder in the second month after sales. Stocks of finished goods are maintained 60% of the following months sales requirement, and the budgeted…Question 1 Green Enterprises Ltd is preparing to set up a new business on the first of January 2021 to manufacture a single product. Below is the sales budget for the company for the first 6 months of 2021. Sales Budget January February March April May June Sales Unit 8 000 8 500 10 000 11 000 11 500 10 500 Sales Revenue 240 000 255 000 300 000 330 000 345 000 315 000 Additional Information; The Cash collections patterns from sales is expected to be as follows: Cash Customers 30% of sales revenue will be for immediate cash Credit Customers 70% of sales revenue will be from credit customers. These debtors will pay their bills, 50% in the month after sales and the reminder in the second month after sales. Stocks of finished goods are maintained 60% of the following months sales requirement, and the budgeted…
- ONLY ANSWER QUESTION (B) AS I HAVE ANSWER FOR (A) ALREADY SALLAT Household Furnishings & Appliances is a family-owned business. You are themanagement accountant of the entity and have been given the task of preparing the cash budgetfor the business for the quarter ending September 30, 2022. Your data collection has yielded thefollowing:i) Extracts from the sales and purchases budgets are as follows:Month CashSales SalesOn Account CashPurchases PurchasesOn AccountMay $75,000 $480,000 $390,000June $135,000 $600,000 $36,000 $360,000July $86,800 $720,000 $61,700 $450,000August $105,600 $640,000 $68,800…Cabrera Accounting pays Shanaya Kapoor $63,480 per year.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).1. What is the hourly cost to Cabrera Accounting of employing Shanaya Kapoor? Assume it is a 31 hour work week and the work 50 weeks a year. Weeks per year ? Hours per week = Work hours per year = Yearly Rate ? Hours per year = Cost per hour = 2. What is the direct labor cost assigned to Client 123 when Shanaya Kapoor works 18 hours to prepare Clients 123 financial statements? Hours worked ? Rate per hour = Direct Labor Cost =Pelican Merchandising & More is a family-owned store. The business is now approaching theend of the year and is in the process of identifying its cash needs for the first quarter of the newyear. You are the management accountant of the entity and have been tasked to prepare the cashbudget for the business for the quarter ending March 31, 2022.(i) Extracts from the sales and purchases budgets are as follows:Month2021 - 2022CashSalesSalesOnAccountCashPurchasesPurchasesOnAccountNovember 2021 $138,100 $480,000 $345,000December 2021 $156,500 $600,000 $25,800 $380,000January 2022 $170,975 $650,000 $44,625 $400,000February 2022 $135,740 $700,000 $30,400 $480,000March 2022 $226,420 $800,000 $55,100 $540,000(ii) An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 4/30, n90:55% in the month of sale35% in the first month following the sale8% in the second month following the…