Hemal Thomas is an employee in British Columbia, The net pay calculation is for the first biweekly pay of 2019. The employee is 32 ye old and in this pay is entitled to 70 hours' regular pay at $20.00/hour, three hours of overtime at time and a half, and a $100.00 safety shoe allowance. The employee also receives a monthly car allowance of $200.00 and the employer pays group life insurance of $35.00 a month. Vacation at 4% is accrued. The employee contributes $20.00 per pay to the United Way, $20.00 per month to the company social club, and $15.00 per pay for union dues. The employee's TD1 federal and provincial codes are both 2. Total deductions are:

Hemal Thomas is an employee in British Columbia, The net pay calculation is for the first biweekly pay of 2019. The employee is 32 ye old and in this pay is entitled to 70 hours' regular pay at $20.00/hour, three hours of overtime at time and a half, and a $100.00 safety shoe allowance. The employee also receives a monthly car allowance of $200.00 and the employer pays group life insurance of $35.00 a month. Vacation at 4% is accrued. The employee contributes $20.00 per pay to the United Way, $20.00 per month to the company social club, and $15.00 per pay for union dues. The employee's TD1 federal and provincial codes are both 2. Total deductions are:

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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Hemal Thomas is an employee in British Columbia. The net pay calculation is for their first bi- weekly pay of 2023. The employee is 32 years old and is entitled to 70 hours regular pay at $ 20/hour, 3 hours of overtime at time - and - a - half, and a $100 safety shoe allowance for this pay period. The employee also receives a monthly car allowance of $200 and the employer pays group life insurance of $35 a month. Vacation at 4% is accrued.The employee contributes $20 per pay to the United Way, $20 per month to the company social club, and $15 per pay for union dues. The employee's TD1 federal and provincial are code 2. (Assume 26 weeks in a year.) Total deductions are: Multiple Choice $330.63. $324.02. $347.99. $337.06.
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Exercise 2-2
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