Question
2. Natalie Sappiro is paid a salary of $68,670.00 per year, paid semi-monthly. She receives a $125.00 taxable clothing allowance on each cheque. The companys
2. Natalie Sappiro is paid a salary of $68,670.00 per year, paid semi-monthly. She receives a $125.00 taxable clothing allowance on each cheque. The companys pension plan allows Natalie to contribute 2.0% of her semi-monthly salary to the companys registered pension plan. Natalie's federal claim code is 1 and her provincial claim code is 2.
Calculate:
- Gross Earnings
- Gross Pensionable/Taxable Earnings
- Gross Insurable Income
- Net Taxable Income
- CPP deduction
- EI deduction
- Federal Income Tax
- Provincial Income Tax
- Net Pay
for the following Alberta employees using the 2021 Income tax deductions tables (and formulas for CPP and EI deductions). Assume in all cases that CPP and EI deductions will not exceed the yearly maximum. (5 marks/employee)
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0697789938
