Question: Module 12 Online Exercise Payroll & Benefits ACCT-1076 Purpose: Using the textbook and information online, learn the requirements for completion of the T4 slips for

Module 12 Online Exercise Payroll & Benefits ACCT-1076 Purpose: Using the textbook and information online, learn the requirements for completion of the T4 slips for the Canada Revenue Agency. Resources required: Canada Revenue Agency (CRA) website: https://www.canada.ca/en.html Module 12 course notes (in Learn) Required: Part 1 1. Review the calculations required for the following: a. Automobile benefit from Module 3 b. Source deductions (i.e. Pensionable earnings, CPP, Insurable earnings, El and taxable earnings from Module 4). Create a reference page or summary for these calculations to refer to when completing year end payroll processing (i.e. T4 Slips, WCB reconciliation, etc.) 2. Find the information on completing T4 Slips on the Canada Revenue Agency website: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/completing- filing-information-returns/t4-information-employers/t4-slip/filling-t4-slip.html

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