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Review Questions How does the employer's choice of payroll cycle impact earnings calculations? (...

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Accounting

Review Questions
How does the employer's choice of payroll cycle impact earnings calculations? ( LO1)
What does the term salary mean in common usage compared to the use of the word by the CRA? ( LO1)
How can vacation pay be calculated and included in employees' earnings? ( LO1)
What is the difference between a taxable and a non-taxable allowance? (????LO2)
What are taxable benefits? (???? LO3)
Assessment Questions
Employment carnings include: ( LOI)
a) Wages
b) Salary
c) Gratuities when distributed by the employer
d) All of the above
The following would not be considered wages: (G LO1)
a) Call-in pay
b) Personal use of an employer's automobile
c) Piece-work payment
d) Overtime
If an employee earns a salary of $36,000 per year, their bi-weekly pay cycle salary would be: ()
a) $3,000.00
b) $1,500.00
c) $1.384.62
d) $36,000.00
If an employee earns a salary of $36,000 per year, their semi-monthly pay cycle salary would be: (LO)
a) $3,000.00
b) $1,500.00
c) $1.384.62
d) $36,000.00
If an employee in British Columbia works 14 hours one day when their normal day is 8 hours and their hourly rate is $20.00, how much
is their total pay for the day? (@ LO2)
a) $80
b) $120
c) $280
d) $360
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