Question
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
- 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.
- Total deductions = statutory deductions + voluntary deductions
- CPP is calculated on contributory earnings
- EI is calculated on insurable earnings
- Income tax is calculated on taxable earnings.
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