Explain why it is important that employees receive their net pay on the due date every...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Explain why it is important that employees receive their net pay on the due date every pay cycle. Sandy Aquarium Inc. has 8 employees and processes payroll bi-weekly. A summary of their payroll information is as follows: Total gross taxable earnings Total CPP, El & Income tax 2019 $275,000 89,000 March 26, 2021 2020 $285,000 92,000 2021 (Estimated) $290,000 100,000 Determine Sandy Aquarium Inc.'s remitter type and due dates for the following selected pay dates: April 2, 2021 May 28, 2021 (Hint: Research remitter types and due dates on the Canada Revenue Agency website.) Explain why it is important that employees receive their net pay on the due date every pay cycle. Sandy Aquarium Inc. has 8 employees and processes payroll bi-weekly. A summary of their payroll information is as follows: Total gross taxable earnings Total CPP, El & Income tax 2019 $275,000 89,000 March 26, 2021 2020 $285,000 92,000 2021 (Estimated) $290,000 100,000 Determine Sandy Aquarium Inc.'s remitter type and due dates for the following selected pay dates: April 2, 2021 May 28, 2021 (Hint: Research remitter types and due dates on the Canada Revenue Agency website.)
Expert Answer:
Answer rating: 100% (QA)
Ensuring that employees receive their net pay on the due date every pay cycle is important for several reasons Financial Stability Employees rely on t... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The scatterplot in Fig. 28 compares the sizes of peoples heads with the weights of their brains. Let h be the size (in cubic centimeters) of a persons head, and let w be the weight (in grams) of the...
-
Explain why it is important that both responsibility and authority are appropriately assigned to employees.
-
The Institute of Psychiatry at Kings College London found that dealing with infomania has a temporary, but significant derogatory effect on IQ (Discover, November 2005). In this experiment,...
-
For each transformation below, a C-C bond forming strategy is required to complete the synthesis. (a) Identify the C-C formation strategy that will be effective from the list below and write it on...
-
A mathematical relation sometimes used in fluid mechanics is the theorem of Stokes [1] where A is any surface and C is the curve enclosing that surface. The vector ds is the differential arc length...
-
Selected information taken from the financial statements of Fordstar Co. for the year ended December 31, 2019, follows: Net cash provided by operations . . . . . . . . . . . . . . . . . . . . . . . ....
-
A team leader who makes a decision not to launch a new product because the last new product launch failed is falling prey to the ____________ heuristic. (a) anchoring (b) availability (c) adjustment...
-
Jason worked various jobs during his teenage years to save money for college. Now it is his twentieth birthday, and he is about to begin his college studies at the University of South Florida (USF)....
-
Find x if m22=1+28x and mzXVW=59x-1. V 2 1 P W
-
On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): ( EV of $1. PV of $1. EVA of $1. and PVA of $1) (Use the appropriate factor(s)...
-
Company: AquaPure Bottling Units: Beginning work in process: 0 Started in production during September: 520,000 units Completed and transferred out to Packaging in September: 480,000 units Ending work...
-
Craig is a long - time employee working from home in a call center role. It is time for his quarterly review. You worked as Craig's peer when all positions were in the office and became friends with...
-
How unbiased literature, respectful representation and unbiased perspectives can provide a touchstone of truth to combat systemic racism. Combine unbiased literature, respectful representation and...
-
Paul is studying the techniques part of the CBAP exam, but he is not sure which ones to focus on. What do you recommend? the BABOK Guide's 30 techniques the techniques he has performed the BABOK...
-
The arousal theory states that whenever the stimulation goes below someone's interest level, they seek arousing behavior. Discuss an example of a situation where the arousal theory could explain why...
-
The first step in creating a CTQ tree is to list the major customer needs collected during the data collection process. True False
-
Book Depot Inc. sells on terms of 1/15, net 30. What is the implicit cost of trade credit under these terms? Use a 365-day year. Round the answer to two decimal places in percentage form. (Write the...
-
Assume today is the 21st of February. Using the information below, FT Extract, answer the following questions (parts i and ii). You work for a US company that is due to receive 250 million in June...
-
Distinguish between the sequential file and database approaches to data backup.
-
a. Create a data flow diagram of the current system. b. Create a system flowchart of the existing system. c. Analyze the internal control weaknesses in the system. Model your response according to...
-
What security concerns pertain to cookies?
-
Venezuelan Bolivar (B). The Venezuelan political and economic crisis deepened in late 2002 and early 2003. On January 1, 2003, the bolivar was trading at Bs1400/$. By February 1, its value had fallen...
-
Indirect on the Dollar. Calculate the forward premium on the dollar (the dollar is the home currency) if the spot rate is 1.3300/$ and the 3-month forward rate is 1.3400/$.
-
Around the Horn (A). Assuming the following quotes, calculate how a market trader at Citibank with $1,000,000 can make an intermarket arbitrage profit. Banks Spot Rates Citibank $1.6194/ National...
Study smarter with the SolutionInn App