1.

Current Year Annual Payroll Information for one Canadian Employee for current year.	Semi-Monthly Payrolls
Annual Salary	48,000.00
Married Status	Single
Children under 16 that are legally Infirm	1
Other Dependents	Lives with Father, whose income this year was $10,000
Eligible Post-Secondary Tuition	6,000
Private Pension Income	2,000
Qualify for Disability and Infirmity	No
Fedral Claim Code	2
Ontario Claim Code	2
Pay Periods	24

The Employment Insurance's, Employers Payroll Expense for each payroll will be $44.24 per paycheque. Answer to the nearest cents.

True

False

2.

Sprott Company started their business on July 1, this year. Sprott Company had two employees this year: Mary and Robert . The payroll is run semi-monthly.

Robert, estimates that his net income, this year. will be $10,000 for TD-1 purposes.

Assume Mary and Robert work the entire period from July 1 to December 31, this year, or 6 month.

The following payroll data was provided for Mary and Robert:

	Mary (40 yrs. old)	Robert (75 yrs. Old and Disabled)
Annual Salary	$24,000	$48,000
Claim Codes	Fed. 4 Prov. 5	To determine
Spouse		60 years old Estimated Net Income: $50,000
	No Children	No Children
Tuition		$2,000, Seneca Part Time 4 months.
Private Pension Income from Sun Life Assurance.		Estimated, $5,000 per year (Pension Income)
Registered Pension Plan (RPP) Deduction	$50 per pay	$50 per pay

Please calculate the Ontario Claim Code for Larry this year, is Claim Code?

		8
		9
		5
		7

3.Fred Jones Paycheque this year, please choose the correct EMPLOYEE journal entry only, for this paycheque to the nearest dollar.

Salary per pay	$1,000
Deductions:
CPP	(48)
EI	(16)
Income Tax	(100)
Union Dues	(136)
Net Paycheque	700

		DR. Salary Expense, $836 CR Union Dues Payable, $136 CR Cash $700
		DR. Salary Expense, $1,000 CR CRA Payable, $264 CR Union Dues Payable, $36 CR Cash $700
		DR. Salary Expense, $1,000 CR CRA Payable, $100 CR Union Dues Payable, $200 CR Cash $700
		DR. Salary Expense, $1,000 CR CRA Payable, $164 CR Union Dues Payable, $136 CR Cash $700