Take me to the text Water Cruises rents canoes and other water crafts to campers and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Take me to the text Water Cruises rents canoes and other water crafts to campers and hikers. On February 15, 2021, Water Cruises prepared their semi-monthly payroll for their employees. The current CPP rate is 5.45%, the current El rate is 1.58%, and the appropriate income tax rate is 18%. The employer pays half of the health care premium, and the employees pay the other half. Assume the employer contributes 100% toward CPP and 140% toward El. Payroll information for February 15, 2021 is listed below. Employee Total Hours Hourly Rate Total Health Care M. Swift 74.0 $17.00 $19.00 S. Current 82.0 $16.00 $20.00 B. Wavey 88.0 $18.00 $14.00 Do not enter dollar signs or commas in the input boxes. Bound your answer to 2 decimal places. a) Calculate gross and net pay for each employee. Payroll Register Deductions Employee Gross Income Tax CPP Health Care Total Deductions Net Pay $ M. Swift 1258 226.44 $ 68.56 9.5 $ S. Current 1312 236.16 B. Wavey 1584 Total 4154 285.12 $ $ 747.72 x $71.50 x 10 $ 7 26.5 S b) Calculate the employer contributions. Employer Contributions CPP* ww 6A SA Health Care $ Take me to the text Water Cruises rents canoes and other water crafts to campers and hikers. On February 15, 2021, Water Cruises prepared their semi-monthly payroll for their employees. The current CPP rate is 5.45%, the current El rate is 1.58%, and the appropriate income tax rate is 18%. The employer pays half of the health care premium, and the employees pay the other half. Assume the employer contributes 100% toward CPP and 140% toward El. Payroll information for February 15, 2021 is listed below. Employee Total Hours Hourly Rate Total Health Care M. Swift 74.0 $17.00 $19.00 S. Current 82.0 $16.00 $20.00 B. Wavey 88.0 $18.00 $14.00 Do not enter dollar signs or commas in the input boxes. Bound your answer to 2 decimal places. a) Calculate gross and net pay for each employee. Payroll Register Deductions Employee Gross Income Tax CPP Health Care Total Deductions Net Pay $ M. Swift 1258 226.44 $ 68.56 9.5 $ S. Current 1312 236.16 B. Wavey 1584 Total 4154 285.12 $ $ 747.72 x $71.50 x 10 $ 7 26.5 S b) Calculate the employer contributions. Employer Contributions CPP* ww 6A SA Health Care $
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
In Exercises use the Limit Comparison Test to determine the convergence or divergence of the series. 0 1 2 n=11n+1
-
How would electronic check presentment (to be discussed shortly) have affected the timeliness of the events in this case and ultimately the outcome?
-
Why is there a price markup over marginal cost in monopolistic competition?
-
The Artic Company's income statement and comparative balance sheets at December 31 of 2019 and 2018 are shown below: Cash dividends of \(\$ 40,000\) were declared and paid during 2019. Plant assets...
-
Ana Lucia operates a retail clothing operation. She purchases all merchandise inventory on credit and uses a periodic inventory system. The Accounts Payable account is used for recording inventory...
-
Routers determine the path to a network using routing tables that list known networks. Routing tables are typically populated in one of three ways: Directly connected networks are added to the table...
-
Solve the following linear systems using the inverse matrix method: X +3y + 2z = 3 2x -y-3z = -8 5x + 2y + z = 9
-
A four-pole Y-connected synchronous generator rated at 550 VA, 3.2 kV, 0.8 PF lagging, and 60 Hz. Its armature resistance is 0.7 ohm and the armature reactance is j15 ohm. The core losses of this...
-
Consider the following facts and identify those that would be necessary to (1) disclose or (2) include in an antenuptial agreement. 1 Mac is a widower who has three adult children. All the children...
-
During the 2020 baseball season, the number of home runs for three teams was three consecutive integers. Of these three teams, the first team had the most home runs. The last team had the least home...
-
In a survey, 25% of teenagers indicated that their favorite restaurant was Restaurant A. The survey was conducted with 5 thousand teenagers. How many of these teenagers ranked Restaurant A as their...
-
On January 1, 2023 ETP Inc has 20,000 shares of common stock, $10 par issued and outstanding. During 2023, ETP reports net income of $200,000 and engages in the following stock related transactions:...
-
what is the difference between them? item International ERP Local software Company History Major sectors Easy to use functionality customization Security Controls Upgrading cost Customer support...
-
A. Select a recent issue (paper or online) of Report on Business Magazine, Canadian Business Magazine (online only), Bloomberg Businessweek, Fast Company, The Economist, or another business magazine....
-
Lederman Manufacturing Corporation sold 14,000 units of product for $45 each during 2019. During the year, 5,000 shares of common stock were outstanding. Prepare an income statement for the year...
-
Record the following transactions that occurred during March 2019 for Harris Manufacturing Company, which uses the perpetual inventory system: Mar. 12 Transferred $5,000 of completed goods from the...
-
Classify each of the following costs relative to the cost object patient for a medical office: Nurse salaries. Receptionist salary. Depreciation on exam room computers Health insurance for...
Study smarter with the SolutionInn App