Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

II - Problems/Calculations 1. Remittance to CRA If a Company deducts $68,000.00 in EI premiums and $84,100 in Canada Pension Plan (CPP) contributions from

image text in transcribedimage text in transcribed

II - Problems/Calculations 1. Remittance to CRA If a Company deducts $68,000.00 in EI premiums and $84,100 in Canada Pension Plan (CPP) contributions from its employees; how much would have to be remitted to the Canada Revenue Agency (CRA)? As EI premiums As Canada Pension Plan a. b. c. And the total Amount 2. a. b. Canada Pension Plan contribution & EI premium Calculation Mrs. Janet Thomas's annual pensionable/insurable/taxable earning is one and the same. It is $64,000.00 in 2019. How much dollar will be deducted from Janet: (CPP rate for 2019 is 5.1% and El rate is 1.62%) Monthly as CPP contribution Monthly as EI premium

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper

1st Canadian Edition

9780132147538, 132889714, 013214753X , 978-0132889711

More Books

Students also viewed these Accounting questions

Question

How might managers' moods affect organizational decision making?

Answered: 1 week ago