Calculate employment income for johnathan

Assignment Help Financial Accounting
Reference no: EM132752871

Johnathan is an accountant who works for Reading Railroad Ltd, which is a public company. He earns $80000 in wages during the 2020 year. His employer withheld $2,732 of CPP from his paycheques, $856 of EI, and $12,000 of income tax, so that he only received $64,412.00 cash throughout the year.

Problem 1: Calculate employment income?

Reference no: EM132752871

Questions Cloud

Calculate the accounts receivable turnover and the average : FedEx Corporation, a major global transportation, Calculate the accounts receivable turnover and the average collection period for 2017 for FedEx Corporation.
Determine the maturity value of the note : Icebreaker Company receives a 120-day, 6% note for $40,000, dated May 14, in settlement of a $40,000 account that is past due. Determine the maturity value
Topic of information systems infrastructure : Research at least two articles on the topic of Information systems infrastructure: evolution and trends. Write a brief synthesis and summary of the two articles
Conceptual and critical evaluation of theories : Conceptual and critical evaluation of theories - conduct a research and analysis of a theoretical financial reporting issue and present their findings
Calculate employment income for johnathan : Calculate employment income? Johnathan is an accountant who works for Reading Railroad Ltd, which is a public company. He earns $80000 in wages during the 2020
Information about job context and environment : How would you gather information about the job context and environment? Explain what sources you would use and why.
Family and medical leave act : How much leave is entitled to under the Family and Medical Leave Act?
How can sales clerks employed at Ramona Clothing : How can sales clerks employed at Ramona's Clothing use the store's return policy to steal money from the cash register
Find the accumulated value of this annuity one period : If the interest rate is 5% annual effective, find the accumulated value of this annuity one period after the final payment takes place.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What amount should regal report as unearned revenue

In its December 31, year 2 balance sheet, what amount should Regal report as unearned revenue?

  What amount should be reported for land

Trenton Travel Agency purchased land for $90,000 cash on December 10, 2017.- What amount should be reported for land on Trenton's balance sheet at December 31, 2017?

  What would be the effect on stanley assets

What would be the effect on Stanley's assets, liabilities, stockholders' equity, revenues, expenses, and net income for 2019? Enter all amounts

  Finishing department

The Finishing Department had 12,500 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 30% complete as to conversion costs.

  Assuming the straight-line method of depreciation

Ace Company purchased a machine valued at $328,000 on August 1. The equipment has an estimated useful life of six years or 2.5 million units. The equipment is estimated to have a salvage value of $9,000. Assuming the straight-line method of depreciat..

  Determine the contribution margin

What are the expected rates of reimbursement for this time frame for each payer

  Compute the value of a share of starbucks common stock

Compute the value of a share of Starbucks common stock. Compute the total sum of the present value of free cash flows for equity shareholders.

  What is the after-tax cost of debt for pearce cricket farm

Pearce's Cricket Farm issued a 30-year, 8% semiannual bond 4 years ago. Which is more relevant, the pre-tax or the after-tax cost of debt?

  How many units must be sold to earn a before-tax profit

Compute the break-even point in units for the company. Determine how many units must be sold to earn a before-tax profit of $62.000.

  Find the balance of provision for long service leave account

Find the balance of the Provision for Long Service Leave account for Adelaide Ltd as at 30 June 20X2, measured in accordance with the requirements of AASB 119.

  What was the amount of the retiree benefits paid by trustee

What was the amount of the retiree benefits paid by the trustee? Pension plan assets were $160 million at the beginning of the year and $172 million

  Prove that price of the bond is a convex function of yield

Assume that its yield is equal to 10%. Assume F = 100 for face value. Prove that the price of the bond is a convex function of the yield.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd