Sophie Gowna, 47 years old, works for an Ontario company with a Bi-weekly pay cycle. She earns $19 per hour and receives over-time paid at time and a half for any hours worked over 44 in a week. Sophie receives $50 cash cell phone allowance per month forworking from home and 6% vacation retained and pay later. She also receives $325 cash reimbursement of business travelexpenses through payroll in this pay cycle. During this Bi-weekly pay cycle, Sophie worked 92 hours. The company pays $35 gymmembership fees per month to the Fit Club for Sophie. The company made $400 one-time tuition payment to the City College forher non-work-related course in this pay period. Sophie pays $25.00 per month in union dues and contributes 8% of her regularhours' wage to a Registered Retirement Savings Plan each pay cycle. What is Sophie's net taxable earnings for this pay cycle?A$ 2,019.89$ 2,190.62$ 2,202.15D$ 2,056.86E$ 2,127.05

Net taxable earnings can be calculated by taking the gross earning adding the taxable allowances…

Answered: Sophie Gowna, 47 years old, works for…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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