Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Use the information below to answer Questions 23-25, Laura, the accountant for Osco-shop gives you the following information. The shop has seven employees, who earn
Use the information below to answer Questions 23-25, Laura, the accountant for Osco-shop gives you the following information. The shop has seven employees, who earn gross wages of $230,000 for January, From this, Laura deducted 22% for income taxes, S11,400 in CPP premiums, and $3,750 in El premiums before distributing the cheques to the staff on January 25. Laura was also required to match the employees' CPP premiums and pay $5,250 in El premiums. The cheques given to the staff has an amount of O a 179,400 Ob. 230,000 Oc 164.250 Od 175,650 The balance of CPP payable is O 11400 Ob None Oc3,750 Od 22.800 The balance of El payable is O a None Ob. 3,750 Oc. 5,250 O d. 9.000 he
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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