Ferris Party Rental has 10 employees who earned a total of $25,000 in November ($2,500 each). The applicable rates for CPP and El are 4.95% and 1.66 % (ignoring annual exemption ) respectively. Income tax withholdings amount to $6,600. The net pay of the 10 employees during November is Select one: A. $25,000. B. $18,400. C. $16,892. D. $17,037.

Ferris Party Rental has 10 employees who earned a total of $25,000 in November ($2,500 each). The applicable rates for CPP and El are 4.95% and 1.66 % (ignoring annual exemption ) respectively. Income tax withholdings amount to $6,600. The net pay of the 10 employees during November is Select one: A. $25,000. B. $18,400. C. $16,892. D. $17,037.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 10PA: Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and...

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