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Question 1: John, a student employee, earns a gross bi-weekly salary of $700. Calculate his net pay considering the following deductions: Canada Pension Plan (CPP)
- Question 1: John, a student employee, earns a gross bi-weekly salary of $700. Calculate his net pay considering the following deductions: Canada Pension Plan (CPP) contributions, Employment Insurance (EI) premiums, and income tax. Assume a CPP contribution rate of 5.45%, EI premium rate of 1.58%, and income tax rate of 15%.
- Question 2: Emily, a part-time student employee, earns an hourly wage of $15. She worked 40 hours in a week. Calculate her net pay for the week considering the following deductions: Canada Pension Plan (CPP) contributions, Employment Insurance (EI) premiums, and income tax. Assume a CPP contribution rate of 5.45%, EI premium rate of 1.58%, and income tax rate of 20%.
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Auditing A Practical Approach
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren
1st Extended Canadian Edition
1118878418, 9781118878415
