Mary works for Liberty Productions in Alberta and earns an annual salary of $53,650.00 paid on a semi-monthly basis. She receives a $80.00 car allowanceeach pay. The company pays 100 % of group term life insurance premiums for its employees as a non-cash taxable benefit which for Mary's is $24.00 perpay period. Mary is a member of the company's registered pension plan and contributes 3% of her salary to the plan every pay. Her federal and Alberta TD1claim codes are 3.Determine Mary's total income tax deduction per pay period.Your answer:

Deductions from Taxable Income: The tax is levied by the government on the income of the individuals…

Answered: ch pay. The company pays 100% of group…

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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Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". If required, round your calculations and final answers to the nearest cent. EmployeeNo. Employee Name Marital Status No. of WithholdingAllowances Gross Wageor Salary Amountto BeWithheld 1 Amoroso, A. M 4 $1,610 weekly $fill in the blank 1 2 Finley, R. S 0 825 biweekly fill in the blank 2 3 Gluck, E. S 5 9,630 quarterly fill in the blank 3 4 Quinn, S. M 8 925 semimonthly fill in the blank 4 5 Treave, Y. M 3 2,875 monthly
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ch pay. The company pays 100% of group term life insurance y period. Mary is a member of the company's registered pen im codes are 3. termine Mary's total income tax deduction per pay period. ur answer: