Answered step by step
Verified Expert Solution
Question
1 Approved Answer
It is based on ontario taxation Maritime Industries is a fabrication business located in Toronto, Ontario. The following payroll information for the week ended August
It is based on ontario taxation
Maritime Industries is a fabrication business located in Toronto, Ontario. The following payroll information for the week ended August 21, 2020. All employees donate $20 to the United Way and contributes $100 to RRSP weekly. All employees are paid weekly taxable telephone allowance $70 and nontaxable lunch allowance $ 100. The employees' annual standard earnings are given below. Garnett $1,20,000 Kelly $90,000 Molloy 75,000 Whiting. $50,000 Tommy $45,000 Complete the payroll register showing Gross Pay, Net pay, Total payroll liability if they are paid 1. Weekly 2. Biweekly 3 Semi Monthly 4. Monthly Note: Use the payroll tables for all your calculations. (you need to prepare all four tables for all 4 periods) Hint: 1. gross earnings - total deductions = net pay. 2. Total deductions = statutory deductions + voluntary deductions 3. CPP is calculated on contributory earnings 4. EI is calculated on insurable earnings 5. Income tax is calculated on taxable earnings Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started