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Description of the organization and nature of certain operations. Le Mur du Son Ltd. sells high quality electronic sound equipment. The company sells through retail outlets as well as on credit to major clients. 

1- The company gives credit terms of 2/10, n30, on the total amount including GST and QST. 

2- The company has to determine the federal goods and services tax (GST) and the Quebec sales tax (QST). For example if Le Mur du Son Ltd. buys merchandise from a vendor for $100 and sells it for $200 the calculations would be as follows: On the seller's books: Accounts receivable 113.96 Sales 100.00 GST payable(7% X $100) 7.00 QST payable (6.5% X $107) 6.96 On the buyer's books: PURCHASE: Purchases 100.00 GST Receivable (7%) 7.00 QST Receivable (6,5%) 6.96 Accounts Payable 113.96 SALE: Cash/Accounts Receivable 227.91 Sales 200.00 GST Payable (7%) 14.00 QST Payable (6,5% of $214) 13.91 The simulation excludes the GST and QST from the amounts listed for sales, purchases and return. Four sales tax accounts are used one each of receivable and payable for the GST and QST The net balance in the GST & QST Receivable and Payable accounts will result in a monthly remittance to Revenue Quebec where the net balances of these accounts is a credit. Revenue Quebec will give the federal government its portion of the total respectively. 

3- The company prepares a bi-weekly (26 pay periods per year) pay for its four employees. The following information will be useful in preparing the payroll: Armand Claude Rene Frappier Bernard Trudeau Civil Status Married Single Married Hourly Rate $ 12.50 9.375 18.75 Amount that allows determination 17 650 6456 17 600 of the appropriate deduction at source code for TD1 Amount that allows determination 16 005 5 900 16 100 of the appropriate deduction at source code for MR-19 Cumulative amounts as of Nov. 30, 20X4 Gross Salary 35 500.00 19 725.00 35 425.00 QPP (employees contribution) 893.20 461.86 893.20 Employment Insurance (employees contribution) 1 047.25 581.89 1 045.04 As far as Celine Lafrance is concerned, you have to consult her payroll register, which you must also complete. Normally, you would keep a payroll register for each employee, however, in order to facilitate your task you will only be required to complete one register. Also, you will have to complete Céline Lafrance's T-4 and Relevé 1 slips at the end of the year. The above information will be useful when you will use the federal and provincial tax tables in Appendix A. Note that A. Frapier and C. Bernard are working at the sales department. 

4- The contributions to Employment Insurance are as follows: Employee's share: According to the table in Appendix A. Employer's share: 1.4 times the employee's share. The employer must retain both the employer and employee contributions and remit the total to Revenue Canada no later than the fifteenth day of the month following the month in which the employees were paid.

5- The employees are obliged to contribute to the Quebec Pension Plan (Regimes des rentes du Quebec - RRQ). For calculation purposes a table is provided in Appendix A. The employer's contribution is equal to that of the employee. 

6- The employer contributes 4.26 % of the total gross salaries to the Quebec Health Services Fund QHSF (In french the “fonds des service de sante”) . No amount is withheld from the employee. 

7- The Federal and Provincial income tax deducted from the employee’s salary is calculated based on the gross salary using the income tax deduction tables provided


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