1 | Employees' net wages | Amount ($) |
Total bonus payout | 245000 | |
Less: Deductions | ||
CPP | 12128 | |
EI | 3994 | |
Income taxes | 49000 | |
Total | 179878 |
2 | Total wages expense | Amount ($) |
Total bonus payout | 245000.00 | |
Add: Expenses | ||
CPP | 12128.00 | |
EI (3994*1.4) | 5591.60 | |
Union of forest workers | 2450.00 | |
Workers' compensation Board | 17342.09 | |
Total | 282511.69 |
3 | Total amount that is payable to Government | Amount ($) |
CPP | 24256 | |
EI (3994*1.4) | 9585.6 | |
Income taxes | 49000 | |
Union of forest workers | 2450 | |
Workers' compensation Board | 17342.09 | |
Total | 102633.69 |
WileyPlus Problem 9-18 WileyPLUS Problem 9-18 a-b (Part Level Submission) Madawaska Timber Inc. had the following...
9-18 -- (Part Level Submission) Madawaska Timber Inc. had the following transactions: FULLSCREEN PRINTER VERSION Feb. 14 BACK SITE Feb. 15 The board of directors for Madawaska Timber Inc, approved a bonus payout to employees in the amount of $300,000. The source deductions on the bonus earned were which Madawaska matched; El of $4,890, which it matched at 1.4 times, and income taxes of $60,000 and finally, $3,000 to the Union of Forest Workers (UFW) to cover union des in...
Madewaska Timber Inc. had the following transact Feb. 14 The board of directors for Madawaska Timber Inc. approved a bonus payout to employees in the amount of $300,000. The source deductions on the bonus earned were CPP of $14,850, which Madawa ka matched: El of 14,890, which matched at 1.4 times, and income taxes of $60,000 and Maly $3,000 to the Union of Forest Workers (UFW) to cover union dues. In addition, Madawaska was required to pay Workers' Compensation Board...
Problem 11-04A a-b (Part Level Submission) (Video) The following payroll liability accounts are included in the ledger of Concord Company on January 1, 2020. FICA Taxes Payable $780 Federal Income Taxes Payable 1,205.00 State Income Taxes Payable 105.00 Federal Unemployment Taxes Payable 300.00 State Unemployment Taxes Payable 1,930.00 Union Dues Payable 880 U.S. Savings Bonds Payable 395 In January, the following transactions occurred. Jan. 10 Sent check for $880 to union treasurer for union dues. 12 Remitted check for $1,985.00...
show your work Application Problem 4-2B al, b (Part Level Submission) Derby Transportation Inc. designs and buids trains for rail networks across Canada. The company, which is publicly traded, has an October 31 year end. On March 15, 2020, Derby Transportation signed a contract with OM Corridor Corp. to design and build 10 high-speed trains, with each train consisting of seven passenger cars. The high-speed train will operate between Ottawa and Montreal. The following events took place in 2020 in...
Exercise 14-02 a-c (Part Level Submission) CALCAATOR PRNTER VERSEON sBACK NMEXTS Sunland Corporation was organized on January 1, 2019. Duning its first year, the corporation issued 1,950 shares of $50 par value preferred stock and 110,000 shares of $10 par value common stock At December 31, the company declared the following cash dividends: 2019, $5,325, 2020, $13,800, and 2021, $28,500. (a) Your answer is partially correct. Try again. Show the allocation of dividends to each class of stock, assuming the...
Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first summer job. Even though his parents are claiming him as a dependent he wants to file a return in order to get his refund. He receives his W-2 and decides he can do his own return using form 1040-EZ. Which of the following information is not found on a Form W-2? a) The taxpayer’s Social Security number b) The taxpayer’s wages, tips and other...
I need Summary of this Paper i dont need long summary i need What methodology they used , what is the purpose of this paper and some conclusions and contributes of this paper. I need this for my Finishing Project so i need this ASAP please ( IN 1-2-3 HOURS PLEASE !!!) Budgetary Policy and Economic Growth Errol D'Souza The share of capital expenditures in government expenditures has been slipping and the tax reforms have not yet improved the income...