ACCG20009 Fundamentals of Payroll Accounting Case 10 - Calculating Net Pay (20 Marks) Sally works for Nikko Enterprises and earns $1,350 bi-weekly. She has just received a 3% pay increase, effective this current pay period. In addition, Sally is entitled to six weeks' vacation pay, which is paid each pay period. Each pay, Sally also receives a group medical benefit of $50 (cost is shared 50/50 with her employer) and group term life insurance (benefit is valued at $1,200 per annum). Both quoted plan prices include applicable sales tax. In addition, the following are other deductions from Sally's pay, each bi- weekly period: $15 for union dues. $35 for a company loan repayment and $10 toward an employee social fund. Assume income taxes are calculated at a combined rate of 20%. HINT: Complete Case 9 before you attempt this question! Required: 1) Determine Sally's Net Pay for one bi-weekly pay period, and 2) What is the amount owing to the CRA for statutory deductions (PD7A) NOTE: marks will be allocated for clearly labeling and providing calculations for EACH STEP of the process models outlined (Lessons 3&5) ACCG20009 Fundamentals of Payroll Accounting Case 10 - Calculating Net Pay (20 Marks) Sally works for Nikko Enterprises and earns $1,350 bi-weekly. She has just received a 3% pay increase, effective this current pay period. In addition, Sally is entitled to six weeks' vacation pay, which is paid each pay period. Each pay, Sally also receives a group medical benefit of $50 (cost is shared 50/50 with her employer) and group term life insurance (benefit is valued at $1,200 per annum). Both quoted plan prices include applicable sales tax. In addition, the following are other deductions from Sally's pay, each bi- weekly period: $15 for union dues. $35 for a company loan repayment and $10 toward an employee social fund. Assume income taxes are calculated at a combined rate of 20%. HINT: Complete Case 9 before you attempt this question! Required: 1) Determine Sally's Net Pay for one bi-weekly pay period, and 2) What is the amount owing to the CRA for statutory deductions (PD7A) NOTE: marks will be allocated for clearly labeling and providing calculations for EACH STEP of the process models outlined (Lessons 3&5)