Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Martin is paid $ 5 2 , 0 0 0 a year paid on a weekly basis. On his most recent pay he had $

Martin is paid $52,000 a year paid on a weekly basis. On his most recent pay he had $153.30 withheld in Income Tax, $55.50 for CPP and $16.60 for EI. He also has requested an additional $25.00 in tax be deducted each pay. Martin is allowed to buy work boots twice a year, required for his job, to a yearly maximum of $300.00. He gave a receipt to his employer for $187.50 for his new boots this pay.
What is the amount of the CPP payable for this pay period?

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

Step: 3

blur-text-image

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

The Practice Of Cost Segregation Analysis Maximizing Tax Bennefits For Building Acquisitions And Construction

Authors: Bruce A. Desrosiers CPA MST, Wayne J. Del Pico

1st Edition

0876297440, 978-0876297445

More Books

Students also viewed these Accounting questions

Question

Why do companies offer fringe benefits to their employees?

Answered: 1 week ago

Question

U11 Informing Industry: Publicizing Contract Actions 317

Answered: 1 week ago