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Marie works for a company located in Pierrefonds, Québec. She earns an annual salary of $53,274.00 and is paid on 100% of the premiums for its employees' group term life insurance coverage. The premiums the company pays for benefit of $34.00 per pay. Marie participates in the company's group Registered Retirement Savings Plan and contril pay. She also pays $37.00 in union dues each pay. Her federal claim code is 1.

Marie works for a company located in Pierrefonds, Québec. She earns an annual salary of $53,274.00 and is paid on 100% of the premiums for its employees' group term life insurance coverage. The premiums the company pays for benefit of $34.00 per pay. Marie participates in the company's group Registered Retirement Savings Plan and contril pay. She also pays $37.00 in union dues each pay. Her federal claim code is 1.

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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Marie works for a company located in Pierrefonds, Québec. She earns an annual salary of $53,274.00 and is paid on a weekly basis. Her company pays 100% of the premiums for its employees' group term life insurance coverage. The premiums the company pays for Marie's coverage are a non-cash taxable benefit of $34.00 per pay. Marie participates in the company's group Registered Retirement Savings Plan and contributes 5% of her salary to the plan every pay. She also pays $37.00 in union dues each pay. Her federal claim code is 1. Determine Marie's federal income tax deduction per pay period. Your answer:
Transcribed Image Text:Marie works for a company located in Pierrefonds, Québec. She earns an annual salary of $53,274.00 and is paid on a weekly basis. Her company pays 100% of the premiums for its employees' group term life insurance coverage. The premiums the company pays for Marie's coverage are a non-cash taxable benefit of $34.00 per pay. Marie participates in the company's group Registered Retirement Savings Plan and contributes 5% of her salary to the plan every pay. She also pays $37.00 in union dues each pay. Her federal claim code is 1. Determine Marie's federal income tax deduction per pay period. Your answer:
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