Question 1

The amount of CPP to be deducted from an employee with earnings this week of $800 and cumulative earnings for the year of $21,000 would be

Accepted Answer

A)  $0.00. 
B)  $36.27. 
C)  $39.60. 
D)  $234.46. 
A)  $0.00. 
B)  $36.27. 
C)  $39.60. 
D)  $234.46.

Question 2

The Record of Employment is issued by the employer on the leaving of an employee.

Accepted Answer

A) True 
 B)False

Question 3

Gross pay is the amount that the employee takes home.

Accepted Answer

A) True 
 B)False

Question 4

Bob Hill's hourly rate is $25.00, and he worked 39 regular hours during the week. What is his gross pay for the week?

Accepted Answer

A)  $950 
B)  $780 
C)  $1,000 
D)  $975 
A)  $950 
B)  $780 
C)  $1,000 
D)  $975

Question 5

Companies can choose different pay periods for hourly workers versus salary workers.

Accepted Answer

A) True 
 B)False

Question 6

Kim received $1,780 for working 40 regular hours. What was Kim's rate of pay per hour?

Accepted Answer

A)  $44.50 
B)  $44.00 
C)  $45.00 
D)  $40.00 
A)  $44.50 
B)  $44.00 
C)  $45.00 
D)  $40.00

Question 7

Computing payroll for employees can sometimes be quite complicated.

Accepted Answer

A) True 
 B)False

Question 8

The employees collectively earn a gross wage of $85,000 for the pay period. But the employer says that they cost $92,000. Discuss the discrepancy.

Accepted Answer

The employees only consider their gross

Question 9

The EI premium rate is currently 2.7% of gross earnings.

Accepted Answer

A) True 
 B)False

Question 10

All of the following are statutory payroll deductions EXCEPT

Accepted Answer

A)  Income Tax. 
B)  Canada Pension Plan. 
C)  Employment Insurance. 
D)  Canada Savings Bond Payments. 
A)  Income Tax. 
B)  Canada Pension Plan. 
C)  Employment Insurance. 
D)  Canada Savings Bond Payments.

Question 11

Why is it important for an employee to complete a TD1 form?

Accepted Answer

The TD1 form allows the employer to figu

Question 12

All payroll registers include sections for recording

Accepted Answer

A)  gross pay, deductions and net pay. 
B)  assets, liabilities, equity, revenue and expenses. 
C)  trade accounts receivable and short-term notes receivable. 
D)  accrued expenses, unearned revenue and net pay. 
A)  gross pay, deductions and net pay. 
B)  assets, liabilities, equity, revenue and expenses. 
C)  trade accounts receivable and short-term notes receivable. 
D)  accrued expenses, unearned revenue and net pay.

Question 13

If the employee has $40 withheld from their cheque for CPP, what is the amount that the employer would need to pay for CPP?

Accepted Answer

A)  $200 
B)  $100 
C)  $40 
D)  $400 
A)  $200 
B)  $100 
C)  $40 
D)  $400

Question 14

The payroll register does NOT contain

Accepted Answer

A)  payroll information for the payroll period. 
B)  net pay. 
C)  gross pay. 
D)  all cumulative payroll information for each individual employee. 
A)  payroll information for the payroll period. 
B)  net pay. 
C)  gross pay. 
D)  all cumulative payroll information for each individual employee.

Question 15

The amount of EI deducted is reported at the end of the year on a(n)

Accepted Answer

A)  TD1. 
B)  Record of Employment. 
C)  Payroll Register. 
D)  T4. 
A)  TD1. 
B)  Record of Employment. 
C)  Payroll Register. 
D)  T4.

Question 16

The EI premium rate is currently 4.95% of gross earnings.

Accepted Answer

A) True 
 B)False

Question 17

Regular earnings are equal to total earnings less deductions.

Accepted Answer

A) True 
 B)False

Question 18

Regular earnings are equal to total earnings less deductions.

Accepted Answer

A) True 
 B)False

Question 19

Georgia Ally's hourly rate is $10.00, and she worked 44 hours during the week. Assuming an overtime rate of time and a half over 40 hours, Georgia's gross pay is

Accepted Answer

A)  $400. 
B)  $460. 
C)  $430. 
D)  $350. 
A)  $400. 
B)  $460. 
C)  $430. 
D)  $350.

The amount of CPP to be deducted from an employee with earnings this week of $800 and cumulative earnings for the year of $21,000 would be

The Record of Employment is issued by the employer on the leaving of an employee.

Gross pay is the amount that the employee takes home.

Bob Hill's hourly rate is $25.00, and he worked 39 regular hours during the week. What is his gross pay for the week?

Companies can choose different pay periods for hourly workers versus salary workers.

Kim received $1,780 for working 40 regular hours. What was Kim's rate of pay per hour?

Computing payroll for employees can sometimes be quite complicated.

The employees collectively earn a gross wage of $85,000 for the pay period. But the employer says that they cost $92,000. Discuss the discrepancy.

The EI premium rate is currently 2.7% of gross earnings.

All of the following are statutory payroll deductions EXCEPT

Why is it important for an employee to complete a TD1 form?

All payroll registers include sections for recording

If the employee has $40 withheld from their cheque for CPP, what is the amount that the employer would need to pay for CPP?

The payroll register does NOT contain

The amount of EI deducted is reported at the end of the year on a(n)

The EI premium rate is currently 4.95% of gross earnings.

Regular earnings are equal to total earnings less deductions.

Regular earnings are equal to total earnings less deductions.

Georgia Ally's hourly rate is $10.00, and she worked 44 hours during the week. Assuming an overtime rate of time and a half over 40 hours, Georgia's gross pay is

Accounting Concepts and Procedures: an Introduction

Debits and Credits: Analyzing and Recording Business Transactions

Beginning the Accounting Cycle: Journalizing, Posting, and the Trial Balance

The Accounting Cycle Continued: Preparing Worksheets and Financial Statements

The Accounting Cycle Completed: Closing and Post-Closing Trial Balance

Special Journals and Subsidiary Ledgers: the Basics: Sales and Cash

Special Journals and Subsidiary Ledgers: the Basics: Purchases and Cash Payments Journals

Banking Procedures and Control of Cash

The Employers Tax Responsibilities: Principles and Procedures

Special Journals With Taxes

Preparing a Worksheet for a Merchandising Company

Completion of the Accounting Cycle for a Merchandising Company

Filters

Exam 9: Payroll Procedures: the Employees Perspective

The amount of CPP to be deducted from an employee with earnings this week of $800 and cumulative earnings for the year of $21,000 would be

The Record of Employment is issued by the employer on the leaving of an employee.

Gross pay is the amount that the employee takes home.

Bob Hill's hourly rate is $25.00, and he worked 39 regular hours during the week. What is his gross pay for the week?

Companies can choose different pay periods for hourly workers versus salary workers.

Kim received $1,780 for working 40 regular hours. What was Kim's rate of pay per hour?

Computing payroll for employees can sometimes be quite complicated.

The employees collectively earn a gross wage of $85,000 for the pay period. But the employer says that they cost $92,000. Discuss the discrepancy.

The EI premium rate is currently 2.7% of gross earnings.

All of the following are statutory payroll deductions EXCEPT

Why is it important for an employee to complete a TD1 form?

All payroll registers include sections for recording

If the employee has $40 withheld from their cheque for CPP, what is the amount that the employer would need to pay for CPP?

The payroll register does NOT contain

The amount of EI deducted is reported at the end of the year on a(n)

The EI premium rate is currently 4.95% of gross earnings.

Regular earnings are equal to total earnings less deductions.

Regular earnings are equal to total earnings less deductions.

Georgia Ally's hourly rate is $10.00, and she worked 44 hours during the week. Assuming an overtime rate of time and a half over 40 hours, Georgia's gross pay is

Accounting Concepts and Procedures: an Introduction

Debits and Credits: Analyzing and Recording Business Transactions

Beginning the Accounting Cycle: Journalizing, Posting, and the Trial Balance

The Accounting Cycle Continued: Preparing Worksheets and Financial Statements

The Accounting Cycle Completed: Closing and Post-Closing Trial Balance

Special Journals and Subsidiary Ledgers: the Basics: Sales and Cash

Special Journals and Subsidiary Ledgers: the Basics: Purchases and Cash Payments Journals

Banking Procedures and Control of Cash

The Employers Tax Responsibilities: Principles and Procedures

Special Journals With Taxes

Preparing a Worksheet for a Merchandising Company

Completion of the Accounting Cycle for a Merchandising Company

Filters