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BC Company started their business on January 1, 2021. ABC Company had two employees in this year: Jane and Larry. The payroll is run semi-monthly.

BC Company started their business on January 1, 2021. ABC Company had two employees in this year: Jane and Larry. The payroll is run semi-monthly. Larry estimates that his 2021 net income will be $10,000 for TD-1 purposes. Assume Jane and Larry work the entire period from January 1 to December 31, 2021 or 12 month. The following payroll data was provided for Jane and Larry: Jane(80 yrs. old) Larry(75 yrs. Old and Disabled) Annual Salary $24,000 $48,000 Income tax Deducted for the entire year: $2,000 $10,000 Spouse 60 years old Estimated Net Income: $50,000 No Children No Children Tuition none $2,000, Seneca Part Time 4 months. Private Pension Income from Sun Life Assurance. none Estimated, $5,000 per year (Pension Income) Registered Pension Plan (RPP) Deduction $1,000 per year $5,000 per year With regards the this year's Company's T4 SUMMARY for all employees, the following choice is the most accurate/correct? Please choose the best and most accurate answer. Box 14 is $72,000 Box 88 is 2 Box 20 is $6,000 Box 27 is $1,077 Box 14 is $48,000 Box 88 is 2 Box 20 is $6,000 Box 27 is $0 Box 14 is $72,000 Box 88 is 2 Box 22 is $5,000 Box 27 is $0 Box 14 is $72,000 Box 88 is 2 Box 20 is $6,000 Box 27 is $0

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