Which the amount of cpp to be deducted from an employee

Assignment Help Financial Accounting
Reference no: EM132949861

Problem 1: The actual tax Bram pays for the year will be affected by

A) the amount of earnings he makes from all sources.

B) his charitable donations made.

C) any deductible tuition he has paid.

D) All of the above.

Problem 2: The amount of CPP to be deducted from an employee with earnings this week of $800 and cumulative earnings for the year of $21,000 would be

A) $0.00.

B) $37.37.

C) $40.80.

D) $796.57.

Problem 3: The employer pays CPP premiums in what ratio to employee CPP deductions?

A) 1.4 times employee CPP deductions

B) 1/4 of employee CPP deductions

C) Matching employee CPP deductions

D) 1/2 employee CPP deductions

Problem 4: The employer records deductions from the employee's paycheque

A) as debits to expense accounts.

B) as credits to liability accounts until paid.

C) as debits to asset accounts until paid.

D) as credits to capital accounts.

Reference no: EM132949861

Questions Cloud

Explain the various types of creativity techniques : Explain the various types of creativity techniques that can be used in a business for generating new ideas.
Determine the amount of cash overage or shortage : Prepare an appropriate general journal entry to record the cash sales and determine the amount of cash overage or shortage, if any.
Which employment insurance premiums are paid by : Which the information needed to make the journal entries to record the wages and salaries expense comes from? Which Employment Insurance premiums are paid by
What revenues are to be expected in 2016 and 2017 : 1. Develop a forecasting model, justifying its selection over other techniques, and project attendance through 2017. (You need to present at least 3 different f
Which the amount of cpp to be deducted from an employee : Which The amount of CPP to be deducted from an employee with earnings this week of $800 and cumulative earnings for the year of $21,000 would be
What is the potentially internationally wrongful act : a) At the end of 2020, in response to the COVID-19 Pandemic, United Nations nation states agreed to the terms of the Convention on Vaccine Access in the Context
What could the impact of cfta be on africa : Why are African countries more likely to trade with Europe and America than they are with each other? What are the likely gains from trade to be had from TFTA
Which is a law that has no effect on payroll net earnings : Which is a law that has no effect on payroll net earnings? Which The form used to determine an employee's net claim code is called a?
Find the variance of the data : Consider the sample of 5 measurements: 19, 19, 17, 18, and 16. Find the variance of the data.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Analyze the value of a target that is part of a conglomerate

Under GAAP standards, How can such issue be resolved if an investor seeks to analyze the value of a target that is part of a conglomerate?

  Find the net present value or npv for the project

Find the Net Present Value (NPV) for the project: (Do not round intermediate calculations, round final answer to two decimals, negative should be preceded)

  Motivate managers to commit financial statement fraud

There are many situations that may motivate managers to commit financial statement fraud. Please list at least two situations that you feel would be good motivation for managers to commit financial statement fraud. In addition to listing these situat..

  What is cullumber work markup percentage on variable cost

Cullumber Work's product, Cullumber Supreme, What is Cullumber Work's markup percentage on variable cost and what is its gross margin percentage?

  Using the effective interest method

On January 1, 2013, Mania Enterprises issued 12% bonds dated January 1, 2013, with a face amount of $20 million. The bonds mature in 2022 (10 years). For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on Ju..

  Government regulation

In 1983 the Bell Telephone System, which operated as AT&T, was broken up, resulting in the creation of seven regional telephone companies.  AT&T stockholders received shares of the new companies and the continuing AT&T, which handled long distance se..

  Did covered interest arbitrage work of the investor in case

Did covered interest arbitrage work of the investor in this case? Would covered interest arbitrage be possible for a UK investor in this case?

  What is the yield to call if are called in five years

Arnot International's, Which yield might investors expect to earn on these bonds, and why? What is the yield to call if they are called in 5 years?

  How much more does olivia have after five years

Olivia invests $ 155 in a savings account that earns 8.8 % compounded annually. How much more does Olivia have after 5 years?

  Prepare the journal entry necessary on january

Marino Company Balance Sheet January 1, 2016, Prepare the journal entry necessary on January 1, 2016, to record the acquisition of Marino.

  What is the net present value of the project

Ables Enterprises has an investment proposed by a division manager. Here are the estimates from the proposal: 1. The required investment for the project is $1,500. 2. The investment will result in two years of cash inflows of $1,000 each, assumed a..

  What garnet co must purchased inventory amounting to

Garnet Co. had cost of goods sold amounting to $1,600. Based on this information, Garnet Co. must have purchased inventory amounting to?

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