Question: Hannah operates a computer graphics business as a sole proprietor which provides her eith cpp pensionable earnings of 32000. The cpp employee contribition rate is

Hannah operates a computer graphics business as a sole proprietor which provides her eith cpp pensionable earnings of 32000. The cpp employee contribition rate is 4.95% and the YMPE is 53600.

How much should hannah set aside for her contribution to the canada pension plan?

Step by Step Solution

★★★★★

3.45 Rating (148 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

As a selfemployed individual Hannah is responsible for both the employee and employer c... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

3. BMT has developed a new product. It can go into production for an initial investment of $3,000,000. The equipment will be depreciated using straight-line depreciation over 5 years to a value of...

1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...

Suppose you plan to send your daughter to college in three years. You expect her to earn two-thirds of her tuition payment in scholarship money, so you estimate that your payments will be $10,000 a...

Evie is a 20-year-old social media influencer who earns lots of income from her YouTubechannel. She brags to her friends, Im going to be a millionaire by the time Im 40, but seems to spend money as...

Nora is employed as the Associate Vice President of Marketing and Branding for Royal Food Distributors Ltd. (RFDL), a Canadian controlled private corporation (CCPC). RFDL creates relationships with...

Craig and Lyn Case Study Lyn and Craig have been married for 10 years and have two children (Corrie - age 8 and Preston - age 7). Lyn is 38 years old. She graduated with a Commerce Degree from...

Avery Swan is 30 years old and single. She is employed as a middle-level manager with a national Canadian company. After living and working for five years in Regina, Saskatchewan, she was transferred...

Avery Swan is 3 0 years old and single. She is employed as a middle - level manager with a national Canadian company. After living and working for five years in Regina, Saskatchewan, she was...

Glen operates his computer consulting business as a sole proprietorship. The business earned gross income of $250,000 during the year before considering the following expenses. Glen drove his...

The following schedule provides two years of information for Rhino Inc. related to its defined benefit plan. In 2021 , Rhino Inc. made a contribution to pension plan assets. Payout to retirees in...

Scenario 2 - Jack Johnson Jack Johnson operates a small manufacturing business as a sole proprietor. His business, Johnson Rubber, manufactures industrial seals and also makes rubber bands used in...

An Indian apparel manufacturer exports goods worth US dollars (US $) 500,000 to an importer in the US. There is a credit period of 180 days, i.e., the Indian exporter will be paid in US dollars after...

A study of 36,080 persons who had heart attacks found that men were more likely to survive than were women. The following table shows some of the data collected in the study. (a) Calculate the odds...

In optics, the focal length, fcm, of a lens, can be calculated using the formula where.cm and em are the object distance and the image distance from the centre of the lens respectively. (i) Make v...

Discuss the role of production operations in the supply chain. Provide examples of how effective/ineffective production operations impact supply chain performance.

Indicate whether each of the following items is (a) An objective or (b) a standard of comparison of the financial statement analysis: 1. Industry norms 2. Assessment of a companys past-performance 3....

Indicate whether each of the following items is (a) An underlying concept, (b) An objective or (c) A standard of comparison of financial statement analysis: 1. Industry norms 2. Assessment of a...

For each piece of information in the list that follows, indicate whether the best source would be (a) Reports published by the company, (b) SEC reports (c) Business periodicals, or (d) Credit and...

The books have been closed for the first year of business for Sanchez Computer Center. The company ended up with a marginal profit for the first three months in operation. Tony expects faster growth...

Find the derivative of y=7cosh(x)222.(Use symbolic notation and fractions where needed.)y'=

Sherry Hopson owns a retail family clothing store. Her store is located at 4321 Circle Drive, Houston, TX 77001. Her employer identification number is 95-1234321 and her Social Security number is...

Larry is a tax accountant and Sheila is a hairdresser. Larry prepares Sheilas tax return for free and Sheila agrees to style Larrys hair six times for free in return for the tax return. The value of...

In 2014, Margaret and John Murphy (both over age 65) are married taxpayers who file a joint tax return with AGl of $25,000. During the year they incurred the following expenses: Medical insurance...

11. Narratives, or stories, can be collected in interviews, as critical incidents, from ques- tionnaires, from the course of everyday conversation, and in many forms of printed communication.

1. Distinguish between the analysis and interpretation of qualitative data.

12. Ethnography is a qualitative research method in which the researcher immerses him or herself in the communication envi- ronment for a long time, often becoming one of the interactants.