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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
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. El is calculated on insurable earnings 5. Income tax is calculated on taxable earnings
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