Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer the following questions, Thanks Question 1 Employees at Tony's Bar are paid 1.5 times their regular pay rate for each hour worked in

image text in transcribed

Please answer the following questions, Thanks

Question 1

image text in transcribedimage text in transcribed
Employees at Tony's Bar are paid 1.5 times their regular pay rate for each hour worked in excess of 40 hours per week. The Canada Pension Plan rate is 4.3% of pensionable eamings. Pensionable earnings deduct a basic yearly exemption of $3,500 and impose a maximum of $38,300. The Employment Insurance rate is 2.25% on insured earnings to a maximum ceiling of $39,000. Employers are required to submit 1.4 x El deductions. Jill Singh is paid weekly and worked ten hours per day Monday through Friday. Assuming her regular wage rate is $6.00 per hour, her gross pay for the week is $ Tony works for a prominent law rm. His gross salary in January was $5,000. The benet expense home by the law rm on Tony's behalf is $ Sam Hunt worked ve eight-hour days for the week and is paid a regular wage rate of $15.00 per hour. Assuming Sam has not yet reached maximum insurable earnings, Employment Insurance relating to his wages for the week is $ Tony has earned a monthly salary of $6,500 each month from January through October. The amount he should deduct from his October salary for CPP is $ Mike Woo works two hours per day, ve days per week, cleaning kitchen equipment. His regular wage rate is $4.50 per hour and he is not required to pay income taxes, due to his low level of eamings. His weekly take-home pay is $ The following cases are independent and relate to short-term notes payable. Principal and interest are to be paid at maturity in all cases. Fill in the missing items in the table below. If no number is required, enter zero. Items marked XXXX need not be calculated. Interest is to be calculated using months. Note to be Interest Payable 2002 Interest Case Principal Interest Rate Note Given Repaid 12i31i01 Expense 1 . $60,000 8% 9l30l01 9130;02 2. $30,000 10% 9!1.~'00 311I01 XXXX 3. $45,000 8% $1,800 $ 900 4. $20,000 4I1I01 4J1!02 1,350 XXXX 5. 12% 1211I01 3I1I02 XXXX 1,000 6. 8% 1011I01 6f1f02 1,600 XXXX

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_2

Step: 3

blur-text-image_3

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

Intermediate Accounting

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

10th edition

1260481956, 1260310175, 978-1260481952

More Books

Students also viewed these Accounting questions

Question

mple 10. Determine d dx S 0 t dt.

Answered: 1 week ago

Question

2. How do I perform this role?

Answered: 1 week ago