Dayna is an employee in Alberta who earns $700.00 weekly. She has filed TD1 and TD1AB forms with claim code 3. This pay she is receiving a pay increase of $25.00 per pay. The increase was effective three pay periods ago. Calculate the total income taxes on the retroactive increase paid on a separate cheque.

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Q: Christine Erickson is the payro

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A:

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A: The answer is $44.60.

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Q: Am.1111.

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A: Answer:

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Q: Employee DD earned $43,300 working for an employer in the current year. The current rate for Social…

A: Please see the next step for the solution

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Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.