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Soul Train Limited pays salaries on a weekly basis. The payroll for the week ended...

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Finance

Soul Train Limited pays salaries on a weekly basis. The payroll for the week ended January 24, 2020, includes three employees as follows:

Determine the appropriate mandatory payroll deductions and net pay for each employee.

Calculate the CPP and EI deductions using the required rates. (2 marks each for CPP and EI)

Use the appropriate tables to determine federal and provincial income taxes. (1 mark each for federal and provincial taxes; Compute the Net pay (1 mark each)

PAYROLL DEDUCTIONS:

Claim Code

Gross

CPP

EI

Fed Tax

Prov Tax

Net Pay

M.King

CC 01

600.00

a

d

g

j

m

F.Reid

CC 02

700.00

b

e

h

k

n

J.Kay

CC 03

800.00

c

f

i

l

o

You are required to fill in the answer boxes with numbers that correspond to a,b,c,d,e,f (2 marks each) g,h,i,j,k,l,m,n and o (1 mark each) in the above table.

ENTER THE NUMBER THAT CORRESPONDS TO (a) IN ANSWER BOX BELOW:

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