Question
You have been provided with the information for Jack Russell's pay on January 31, 2020, as follows: Jack's position is Recruiting Manager Gross earnings
You have been provided with the information for Jack Russell's pay on January 31, 2020, as follows:
Jack's position is Recruiting Manager
Gross earnings 60,000.00
Items that have NOT been included in Jack Russell's gross earns are as follow:
(a) Personal use of employers Auto; cost of the vehicle is 28,000, not including taxes; total kilometers driven for the month are 4,000 and personal use is 1,000.
(b) Performance bonus received but not included in total earnings is 2,300.00. (Jack received a cheque for $2,300 last week)
(c) Monthly housing is provided with a FMV of $1200.00 inclusive, Jack pays $600 per month for the unit.
(d) Monthly life insurance premiums of $45.00 are paid by the company.
(e) Health and Dental premiums are $240.00 per month these benefits are paid by the employer.
(f) Jack is provided with a cell phone for work. The monthly bill is $55.00 per month and Jack has not gone over the minutes that the plan covers.
(g) Jack received a tuition reimbursement for a management course that he took and passed.
Required:
Calculate Jack's gross pay for the second pay period of the year, using the above information. Jack is paid semi-monthly; and all benefits are added to the last pay in the month.
Calculate Jack's required CPP and EI deductions for this pay
Calculate Jack's tax deduction assuming a claim code 1 for both Fed/Prov taxes. (be sure to use the semi-monthly tax tables for 2020.
Calculate Jack's net pay; assuming that any payments he makes for rent, he writes a cheque to his employer and it is not a payroll deduction.
Step by Step Solution
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Lets break down each part of the calculation step by step Step 1 Calculate Gross Pay for the Second Pay Period Since Jack is paid semimonthly well nee...Get Instant Access to Expert-Tailored Solutions
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