Question
Patricia Wong, a newspaper reporter, turned 61 on Feb. 14, 2021. She is paid monthly. Patricia has completed both TD1 forms showing a total exemption
Patricia Wong, a newspaper reporter, turned 61 on Feb. 14, 2021. She is paid monthly. Patricia has completed both TD1 forms showing a total exemption amount of $9,936 on her TD1MB and $13,808 on her TD1 Federal. Year-to-date (to the end of June 2021) Patricia has paid $267.45 in CPP and $289.50 in EI. Patricia has not completed a CPT30 form.
PART A: For the month of July 2021 she earned $2,400.00 and also has a taxable life insurance monthly benefit in the amount of $20.00
1. Calculate and record the Gross Earnings
2. Calculate and record the Federal Claim Code
3. Calculate and record the Manitoba Claim Code
4. Calculate and record the Employee's CPP deduction
5. Calculate and record the Employer's CPP deduction
6. Calculate and record the Employee's EI deduction
7. Calculate and record the Employer's EI deduction
8. Calculate and record the Federal Tax deduction
9. Calculate and record the Provincial Tax deduction
PART B: For the month of August 2017 she earned $1,100 in salary. Patricia has her monthly taxable life insurance benefit in the amount of $20.00
1. Calculate and record the Gross Earnings
2. Calculate and record the Federal Claim Code
3. Calculate and record the Manitoba Claim Code
4. Calculate and record the Employee's CPP deduction
5. Calculate and record the Employer's CPP deduction
6. Calculate and record the Employee's EI deduction
7. Calculate and record the Employer's EI deduction
8. Calculate and record the Federal Tax deduction
9. Calculate and record the Provincial Tax deduction
Step by Step Solution
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There are 3 Steps involved in it
Step: 1
To calculate Patricia Wongs earnings and deductions for July 2021 and August 2017 well follow these steps July 2021 Part A Calculate and record the Gr...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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