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FULL SCREEN PRINTER VERSION RACK NEXT Madawaska Timber Inc. had the following transactions: Feb. 14 The board of directors for Madawaska Timber Inc, approved a

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FULL SCREEN PRINTER VERSION RACK NEXT Madawaska Timber Inc. had the following transactions: Feb. 14 The board of directors for Madawaska Timber Inc, approved a bonus payout to employees in the amount of $300,000. The source deductions on the bonus eamed were CPP of $14,850, which Madawaskamatched; El of $4.890, which it matched 1.4 times, and income taxes of $60,000 and finally $3,000 to the Union of Forest Workers (UFW) to cover union dues. In addition, Madawska was required to pay Workers Compensation Board (WCB) of British Columbia premiums of 6.54% based on the bonus costs Feb. 15 Paid the bonus approved by the board of directors on February 14 Feb. 20 Made the remittance to the government related to the February 14 bonus Feb. 21 Made the remittance to UPW related to the February 14 bonus. (a) Determine the amount of the employees' net wages, the total wages expense for Madawaska and the total amount that is payable to the government on Feb. 20. (Hound answers to places, eg. 125.) decimal Employees' Net Wages Talmont hats Payable to the Government Attempts 0 of 2 used AV FOR LATER SUBMIT

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