Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Majic Corporation sells phone cases to public and private companies.They are located at 123 Locus Rd, Toronto, ON M1H 4S3.They employ 200 full time employees

Majic Corporation sells phone cases to public and private companies.They are located at 123 Locus Rd, Toronto, ON M1H 4S3.They employ 200 full time employees who work in sales, customer service and office support roles.

They have had an annual remuneration of over $1,000,000 for the past several years therefore their EHT rate is 1.95%.

Pay period #1 started December 27, 2020. All are paid on a bi-weekly basis. All benefits are processed each pay on an as enjoyed basis.

The first pay day for employees is Jan 13, 2021.

They have three staff in the Customer Service Department answering questions from clients and the general public. They all work Monday to Friday and do not work statutory holidays but are paid for them.

A)

Marijke has been with Majic for 5 years and is the Customer Service Supervisor.She earns $2000.00 bi-weekly working 35 hours per week. She does not work any overtime. She received a $300.00 one-time bonus pay period 6

Her employer provides her with the following:

Health and Dental - fully paid for by the employer at a monthly cost of $469.00

Group Term life insurance - 2x her annual salary at a cost of $0.69 per month per $1000 of coverage paid for by the employer

AD&D - $50,000.00 at a cost of $0.19 per month per $1000 of coverage paid for by the employer

She has the following personal deductions from her pay:

$5.00 per pay donation to the United Way

Federal and Provincial income tax - she is claiming maximum tax (Claim Code 0) plus an additional $10.00 per pay

Pay Period 6 Calculate the following:

Gross Pay

Gross taxable income

CPP contributions

EI premiums

Federal and Provincial taxes

Group term life insurance

AD & D

United Way

Net pay

Employer health tax

Pay Period 7 Calculate the following:

Gross Pay

Gross taxable income

CPP contributions

EI premiums

Federal and Provincial taxes426.25

Group term life insurance

AD & D

United Way

Net pay

Employer health tax

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

College Accounting A Practical Approach

Authors: Jeffrey Slater, Mike Deschamps

14th Edition

0134729315, 978-0134729312

More Books

Students also viewed these Accounting questions

Question

What reward will you give yourself when you achieve this?

Answered: 1 week ago