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2. One of your employees receives an annual salary of $83,500. The only deductions from his paycheque are federal and BC tax, CPP, and El. (a) In what months will the CPP deduction be zero? (b) In what months will the El employee deduction be zero? (c) What is the amount of El employer deduction in August?

2. One of your employees receives an annual salary of $83,500. The only deductions from his paycheque are federal and BC tax, CPP, and El. (a) In what months will the CPP deduction be zero? (b) In what months will the El employee deduction be zero? (c) What is the amount of El employer deduction in August?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2. Ône of your employees receives an annual salary of $83,500. The only deductions from his paycheque are federal and BC tax, CPP, and El. (a) In what months will the CPP deduction be zero? (b) In what months will the El employee deduction be zero? (c) What is the amount of El employer deduction in August?
Transcribed Image Text:2. Ône of your employees receives an annual salary of $83,500. The only deductions from his paycheque are federal and BC tax, CPP, and El. (a) In what months will the CPP deduction be zero? (b) In what months will the El employee deduction be zero? (c) What is the amount of El employer deduction in August?
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