QuestionsAssignment #2 - Instructions50 MarksSTUDENT NAME(S):The objective of this assignment, is to process a complete payroll cycle for a small company, including all year-end reporting and accounting entries.Prepare your assignment in the templated pages provided by 'tab' below … (Register / Payroll Journal)SUBMIT THIS ASSIGNMENT IN THE DROPBOX BY THE DUE DATE WITH ALL OF YOUR ANSWERS INPUT INTO THE TEMPLATES PROVIDED!Supporting Calculations MUST be Attached to this Assignment!Mark Breakdown1) Complete the Payroll Register for the FULL TAX YEAR Ending December 31, 201318 Marks2) Prepare the T4's for Worker's #1 & #10 ONLY, due February 28, 2014 (T-Slip Forms attached)6 Marks3) Complete the T4 Summary for ALL employees (Note: CRA Statements report that only $146,387.54 was remitted to date)4 Marks4) Payroll Accounting: In journal entry format, record the following for the year (in total);8 Marksa) salary/wages & employee withholdingsb) employer portion of statutory deductions & employee benefitsc) cash payments for a & b aboved) EHT & WSIB Accruals (see #5 & #6 below)e) Vacation Accrual & Reversal (see #7 below)* On the template (in the box provided) input & detail your calculation for Total Payroll Costs that the employer recorded for the year *5) ABC is a 'Private Employer', subject to an EHT levy. Calculate the payroll base by which the levy would be calculated;8 Marks* Prepare the 'year-end accrual' to record the levy owing (#4 d above)* Prepare a schedule of payments, assuming this employer makes monthly payments; attach it to this assignment (See Lesson #7)* Prepare the 'annual return'; attach it to this assignment6) ABC is in the 'Paper Products' industry, subject to WSIB premiums. Calculate the payroll base by which the premium would be calculated;6 Marks* Prepare the 'year-end accrual' to record the premium owing (#4 d above)* Prepare the 'reconciliation statement'; attach it to this assignment7) Challenge Questions -Using the T4, exampled in Lesson #6, determine and report the Pension Adjustment for Worker's #1 & #102 MarksDetermine the 'vacationable earnings' for Workers #5 - #10 and then calculate and journalize the total Vacation Accrual outstanding3 Marksfor the year. In addition, assuming that each worker took one week's vacation within the year, journalize the adjustment to the accrual. Register TemplateABC Private Paper Products Co. - 2013 YTD Payroll RegisterNote additional information below;STUDENT NAME(S):BN 12345 678 RP001Benefits:Total:Source Deductions:Other Deductions:Employee - SIN#Wages /Hours'Work Related'YearlyRegistered PensionGrossFed & ProvSalaryWorked perYearlyTaxable CarPlan ContributionsPayCPPEIIncome Tax =RPPMedicalNet PayPay PeriodCash BonusesAllowancesRate @ 22%Worker 1 - 123-456-789$15.5040$0.00$0.00$838.24$16,764.80$656.61$315.18$3,688.26$838.24$5,850.00$5,416.52Worker 2 - 123-456-790$15.5040$0.00$0.00$838.24$16,764.80$656.61$315.18$3,688.26$838.24$5,850.00$5,416.52Worker 3 - 123-456-791$15.50 ...