Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. Rachel McAdams an employee earns $55,000 per year and is paid on a semi- monthly pay schedule. The employee enjoys the benefit of a

image text in transcribed
3. Rachel McAdams an employee earns $55,000 per year and is paid on a semi- monthly pay schedule. The employee enjoys the benefit of a company paid cell phone for personal use (cost is $150 per month) and receives 6% vacation pay on each payment. This pay cycle included 15 hours of approved overtime worked over the normal 40 hour work week and a reimbursement for travel expenses in the amount of $434.20. The employee contributes 5% of their regular wages to a Registered Retirement Savings Plan each pay cycle. Calculate the net pay for this employee. Be sure to list all of the deductions from the employee's pay for this pay cycle. (Note: if you do not have access to the PDOC assume Federal Tax deduction = $394.90 and Provincial Tax deduction = $191.45) Based on 2019 rates and T4032 tables

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions