Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

this is the case study, kindly use the document from offical sites if you can. HUMR-1007 Payroll and Taxable Benefits Case Study 2 (Version #2

this is the case study,
kindly use the document from offical sites if you can. image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
HUMR-1007 Payroll and Taxable Benefits Case Study 2 (Version #2 Aug. 2021) Total Marks /63 or the following employee: 1. Complete a current year Federal and Provincial TD1 form for the employee. And use these totals to identify the claim code for Federal and Provincial tax. (6 Marks) Note: Include these as additional attachments in the LEARN Dropbox (either image file or document file). Fillable forms are available on the CRA website. 2. Calculate the net payable, using the format below, for the last three semi-monthly pay periods (note: each pay period covers a 1 - 15 period with the last period in August covering August 31, showing all the appropriate sub-calculations of gross pays and deductions. (39 Marks) 3. Sandra Buckles has accepted an offer of employment with one of Diverse's competitors. Sandra's last day at Diverse was August 23rd. Sandra has not taken any vacation. Prepare a Record of Employment for the employee. Hint: Use a calendar to help calculate all the required pay periods gross earnings and hours. (18 Marks) Note: Include this as additional attachment in the LEARN Dropbox (either image file or document file). Fillable forms are available in the Case Study 2 content section in LEARN. Additional information: - Monthly downtown parking fees of $63.00 (includes GST) are paid by the employer and a prorated taxable benefit is included on each pay. - Diverse Enterprises was closed for the Civic Holiday in August and all salaried employees were paid for their regular hours/pay for the day. - Employees at Diverse work a Monday to Friday work week. - Sandra Buckles is married and is supporting her husband who currently has no income. Sandra and her spouse on both her TD1 forms. - Sandra's final pay included her vacation pay owing and regular pay. She took her vacation in December of 2019 and did not carry forward any unused portion. Her accrual consists of Jan 2021 to her last day of work in 2021. Question 1: Include TD1 forms as additional attachments in the LEARN Dropbox. Question 2: Period covered: July 16 to July 31 Regular hours Total Gross Pay Tax Ben Gross Taxable Net Taxable CPP EI FED TAX PROVTAX (CC ) (CC ) Net Pay Period covered: August 1 to August 15 Regular hours hours X Total Gross Pay Tax Ben Gross Taxable \begin{tabular}{ll} \hline Net Taxable \\ CPP \\ EI & ( (CC ) \\ FED TAX & (CC_) \\ PROVTAX \end{tabular} Net Pay Regular hours Vacation Pay Total Gross Pay Tax Ben Gross Taxable Net Taxable CPP EI FED TAX PROV TAX (CC ) (CC ) Net Pay Question 3: Use the provided fillable ROE form (located in the Case Study content section in LEARN), and include these as additional attachppents in the LEARN Dropbox. HUMR-1007 Payroll and Taxable Benefits Case Study 2 (Version #2 Aug. 2021) Total Marks /63 or the following employee: 1. Complete a current year Federal and Provincial TD1 form for the employee. And use these totals to identify the claim code for Federal and Provincial tax. (6 Marks) Note: Include these as additional attachments in the LEARN Dropbox (either image file or document file). Fillable forms are available on the CRA website. 2. Calculate the net payable, using the format below, for the last three semi-monthly pay periods (note: each pay period covers a 1 - 15 period with the last period in August covering August 31, showing all the appropriate sub-calculations of gross pays and deductions. (39 Marks) 3. Sandra Buckles has accepted an offer of employment with one of Diverse's competitors. Sandra's last day at Diverse was August 23rd. Sandra has not taken any vacation. Prepare a Record of Employment for the employee. Hint: Use a calendar to help calculate all the required pay periods gross earnings and hours. (18 Marks) Note: Include this as additional attachment in the LEARN Dropbox (either image file or document file). Fillable forms are available in the Case Study 2 content section in LEARN. Additional information: - Monthly downtown parking fees of $63.00 (includes GST) are paid by the employer and a prorated taxable benefit is included on each pay. - Diverse Enterprises was closed for the Civic Holiday in August and all salaried employees were paid for their regular hours/pay for the day. - Employees at Diverse work a Monday to Friday work week. - Sandra Buckles is married and is supporting her husband who currently has no income. Sandra and her spouse on both her TD1 forms. - Sandra's final pay included her vacation pay owing and regular pay. She took her vacation in December of 2019 and did not carry forward any unused portion. Her accrual consists of Jan 2021 to her last day of work in 2021. Question 1: Include TD1 forms as additional attachments in the LEARN Dropbox. Question 2: Period covered: July 16 to July 31 Regular hours Total Gross Pay Tax Ben Gross Taxable Net Taxable CPP EI FED TAX PROVTAX (CC ) (CC ) Net Pay Period covered: August 1 to August 15 Regular hours hours X Total Gross Pay Tax Ben Gross Taxable \begin{tabular}{ll} \hline Net Taxable \\ CPP \\ EI & ( (CC ) \\ FED TAX & (CC_) \\ PROVTAX \end{tabular} Net Pay Regular hours Vacation Pay Total Gross Pay Tax Ben Gross Taxable Net Taxable CPP EI FED TAX PROV TAX (CC ) (CC ) Net Pay Question 3: Use the provided fillable ROE form (located in the Case Study content section in LEARN), and include these as additional attachppents in the LEARN Dropbox

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

Monitoring And Auditing Practices For Effective Compliance

Authors: John E. Steiner

2nd Edition

0977843017, 978-0977843015

More Books

Students also viewed these Accounting questions