Question: Please help me solve this problem.Thanks in advance AC201 Final Assignment Complete QUESTION 1 and EITHER Question 2 or Question 3 1. Beatrice Monk is

Please help me solve this problem.Thanks in advance

Please help me solve this problem.Thanks in advance AC201 Final Assignment Complete

AC201 Final Assignment Complete QUESTION 1 and EITHER Question 2 or Question 3 1. Beatrice Monk is the Manager, Production at AgriSolutions Co. in Innisfree, Alberta, and is paid an annual salary of $81,120.00, on bi-weekly basis. She has a claim code of 3 on her federal and provincial TD1 forms. Beatrice receives a taxable monthly car allowance of $150.00, paid on a pay period basis. The company pays 100% of the cost of the employees' life insurance coverage. Her life insurance coverage is three times her annual salary. Beatrice also has $500,000.00 of optional life insurance coverage that she pays for through payroll deductions. The monthly premium rate for the group term life insurance is $0.33 per $1,000.00 of coverage and Beatrice's optional life insurance rate is $0.42 per $1,000.00 of coverage. All benefits and deductions are assessed on a pay period basis. Beatrice contributes 5% of her gross pay to her RPP per pay and donates $10.00 per pay to United Way. The company has received a CRA Requirement to Pay Notice for Beatrice. The notice states that the company must withhold and remit 20% of Beatrice' s GIE to the CRA on a pay period basis. Calculate the amount of Beatrice's first paycheque of the year. Show all your work. 2. Chester sells auto parts and earns a commission of 3% on sales up to and including $90,000.00, 4% on sales between $90,000.00 and $160,000.00, and 5% on sales above $160,000.00. He is paid commissions monthly and receives a mid-month advance of $2,000.00. For this month, Chester's sales were $192,700.00. Chester's Claim Codes are both 2 for federal and provincial income taxes. Chester is provided with a company-owned automobile to carry out his sales duties. The car is available to Chester around the clock. The car cost $28,700 plus 5% GST. The car was available to Chester 365 days last year, he drove it 62,600 kilometers of which 14,700 were for personal use. Account for the standby charge and operating benefit on a pay period basis assuming these were last year's numbers and you are using them to estimate this year's taxable benefit. The lowest calculated values for the s/b and operating benefits should be used. Calculate Chester's net pay on both his mid-month advance and his month-end pay. Show all your work. 3. Kristine Laremy has worked for Magnex Corp. in Alberta since 1984. Magnex Corp. does not have a pension plan for its employees. Her employment is terminated on July 15, 2015. The following amounts are relevant to Kristine's final pay: Regular semi-monthly salary: Taxable Car Allowance per pay: Group term life insurance benefit: Vacation pay owing: Wages in lieu of notice: Retiring allowance: $2,520.00 100.00 $ 23.40 $5,815.38 8 weeks $50,000.00 Kristine has federal and provincial claim codes of 1. She will be transferring $10,000.00 of the retiring allowance to her RRSP. Her regular salary, vacation pay and wages in lieu of notice will be paid together; her retiring allowance will be paid separately. Calculate Kristine's final payments. Show all your work. 1

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