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Compute the week take home pay and deductions

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Reference no: EM132957947

Problem 1: Using the following information, compute this week's take home pay and deductions for each employee and also prepare a general journal payroll entry.

Problem 2: Use an Income Tax rate of 15% for Letitia and Paulo; an Income Tax rate of 22% for Steve and Catriona. Calculate EI using a rate of 1.62% and CPP using a rate of 5.10% and a weekly exemption of $67.30.

                                 Earnings                      Earnings                        Medical
Employee                  YTD                      this Week                    Premiums
Letitia                      20,000                     800                        10
Paulo                      16,000                       400                       10
Steve                      36,000                       900                       10
Catriona                  53,825                      1,075                       0

Reference no: EM132957947

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