Complete the payroll register showing gross pay

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Reference no: EM132940686

Maritime Industries is a fabrication business located in Toronto, Ontario. The following payroll information for the week ended August 21, 2020. All employees donate $20 to the United Way and contributes $100 to RRSP weekly. All employees are paid weekly taxable telephone allowance $70 and nontaxable lunch allowance $ 100.

The employees' annual standard earnings are given below.

Garnett   $1,20,000
Kelly       $90,000
Molloy     75,000
Whiting,   $50,000
Tommy     $45,000

Problem 1: Complete the payroll register showing Gross Pay, Net pay, Total payroll liability if they are paid

1. Weekly 2. Biweekly 3 Semi Monthly 4. Monthly
Note: Use the payroll tables for all your calculations. (you need to prepare all four tables for all 4 periods)
Hint: 1. gross earnings - total deductions = net pay.
2. Total deductions = statutory deductions + voluntary deductions
3. CPP is calculated on contributory earnings
4. EI is calculated on insurable earnings
5. Income tax is calculated on taxable earnings.

Reference no: EM132940686

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