Question
Penny works for TSX in Ontario where she is a commissioned salesperson. TSX pays their commissioned salespeople on a straight commission of sales method at
Penny works for TSX in Ontario where she is a commissioned salesperson. TSX pays their commissioned salespeople on a straight commission of sales method at 0.35%. Penny is owed her semi-monthly commission payment based on $600,000.00 of products sold in the pay period. She did not receive an advance. Penny's TD1 federal and provincial are claim code 3. She will not reach the CPP, and Employment Insurance annual maximums this pay period.
Calculate Penny's gross earnings Calculate Penny's Canada pension plan contribution. Calculate Penny's Employment Insurance Premium.
Calculate the Federal income tax using the CRA payroll deduction tables.
Calculate the Provincial income tax using the CRA payroll deduction tables.
Calculate Penny's net commission pay.
Calculate the Federal income tax using the CRA payroll deduction tables.
Calculate the Provincial income tax using the CRA payroll deduction tables.
Calculate Penny's net commission pay.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
A Sneak Peek Into The Auditing World A Day Of An Auditor
Authors: Anupma Aggarwal, Adv (Dr.) Raj Kumar S Adukia
1st Edition
1648997074, 978-1648997075
