A Sherwood Company employees' EI total premium payable for the year is $20,000. The employer's provide short-term

Fantastic news! We've Found the answer you've been seeking!

Question:

A Sherwood Company employees' EI total premium payable for the year is $20,000. The employer's provide short-term disability to their employees which reduces the premium rate to 1.262 for EI contributions.

How much does the employer save in a year by having the short-term disability benefit for their employees?

Related Book For answer-question

Financial Accounting Tools for Business Decision Making

ISBN: 978-1119368458

7th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

See More Books

Posted Date: Apr 04, 2023 04:50 AM

See More Questions

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
The following Trial Balance was extracted from the books of Hillside Plc at 31st March 2006: K1 000 ordinary shares 8% K1 000 preference shares 7% debentures Land and buildings: cost Accumulated...
aj b) If the magnitude of the force F is 700 N, what is the value of the internal moment at point A in N.m? d) 0.5 m 540 180 210 A 0.8 m 240 Bo birak F A
Potters, Inc., has acquired several other companies. Assume that Potters purchased Kittery, Co., for $6,000,000 cash. The book value of Kitterys assets is $12,000,000 (market value, $15,000,000), and...
Without performing any calculations, determine which measure of central tendency best represents the graphed data. Explain your reasoning. Heights of Players on Two Opposing Volleyball Teams 7 5 3 2...
A mass $m$ is attached at the midpoint of a stretched wire of area of cross-section $A$, length $l$, and Young's modulus $E$ as shown in Fig. 13.29. If the initial tension in the wire is...
Spiffy Dry Cleaners has recently changed management, and the new owners want to revise the current layout. The store performs six main services: (1) Laundry, (2) Dry cleaning, (3) Pressing, (4)...
List FIVE (5) principles of learning applicable to training and development in organizations with a brief description.?
Chris and Stefani Watanabe live with their two boys at 1400 Victoria Lane, Riverside, CA 92501. Chris is an accountant who has his own accounting practice. Stefani is an elementary school teacher....
Factor x 4 + 9 x 2 + 1 8
Coda Coffee and bext360 Supply Chain: Machine Vision, AI, IoT, and Blockchain We've developed amazing relationships with many of our coffee farmers, and it feels good knowing we're not only serving...
1 Question: Cost of Services Provided Schedule 2 PLEASE DO NOT DELETE CELLS a 4 Amy has her own bookkeeping company, ClearBooks Accounting Solutions, and would like help in determining her cost of...
Question 4 of 5 View Policies Show Attempt History Current Attempt in Progress Selected accounts for Kingbird, Inc., a private company following ASPE, as at December 31, 2023, are as follows...
Question 2 [25 points] A cash budget, by quarters, is given below (000 omitted). The company requires a minimum cash balance of at least $8,000 to start each quarter. Interest paid will total $1,000...
. Select 5 fortune 50 companies (from the current year fortune 500 list, see the rankings and select from the top 50 listed) and locate their 10k's through their respective investor relations...
requests. The Department has 10 employees who are all cross-trained; all work 2,000 hours per year. They perform three activities: Maintain parts inventory, which involves forecasting demand for...
Critical reading SAT scores are distributed as N(500, 100). a. Find the SAT score at the 75th percentile. b. Find the SAT score at the 25th percentile. c. Find the interquartile range for SAT scores....
On March 31, 2018, the Lake Theatre Inc.'s general ledger showed Cash $6,000; Land $100,000; Buildings $80,000; Equipment $25,000; Accounts Payable $5,000; Mortgage Payable $125,000; Common Shares...
The financial statements of The North West Company Inc. are presented in Appendix A and the financial statements for Sobeys Inc. are presented in Appendix B. Instructions (a) Determine the following...
Selected information (in millions) is available for Sears Canada Inc. and Canadian Tire Corporation, Limited for a recent fiscal year: Instructions (a) Determine the missing amounts for [1] to [6]....
A mass attached to a linear spring sliding on a surface with Coulomb damping is an example of a nonlinear system. Indicate whether the statement presented is true or false. If true, state why. If...
The swinging spring is an example of a two degree-of-freedom system with a cubic nonlinearity. Indicate whether the statement presented is true or false. If true, state why. If false, rewrite the...
The convolution integral can be applied to solve nonlinear problems. Indicate whether the statement presented is true or false. If true, state why. If false, rewrite the statement to make it true.

A Sherwood Company employees' EI total premium payable for the year is $20,000. The employer's provide short-term

Question:

Expert Answer:

The premium rate for EI contributions is reduced to 1262 du... View the full answer

Financial Accounting Tools for Business Decision Making

Students also viewed these accounting questions