Calculate Kristines final payments

Assignment Help Accounting Basics

Reference no: EM132749655

Question - Kristine Laremy has worked for Magnex Corp. in Alberta since she turned 21, in August, 2000. Magnex Corp. does not have a pension plan for its employees. Her employment is terminated on October 15, 2019, due to company restructuring. The following amounts are relevant to Kristine's final pay:

Regular semi-monthly salary: $3,000.00 (unchanged all year)

Taxable Car Allowance per pay: 100.00

Group term life insurance benefit per pay: $23.40

Vacation pay owing: $5,185.38

Wages in lieu of notice: 8 weeks

Retiring allowance: $40,000.00 (ignore for parts a through k)

Kristine has federal and provincial claim codes of 2. Her regular salary, vacation pay and wages in lieu of notice will be paid together; her retiring allowance will be paid separately. Calculate Kristine's final payments.

Reference no: EM132749655

Questions Cloud

Explain the impact of the best practices you selected : Explain the impact of the best practices you selected on the reporting process. Describe how the best practices align with the XBRL application.

Identify the cash-generating units in the given cases : Identify the cash-generating unit(s) in the following cases: A bus company provides services under contract with a municipality that requires minimum service.

Compute the weighted average accumulated expenditures : Compute 1) the weighted average accumulated expenditures, 2) avoidable interest, and 3) actual interest. Record the journal entries on the four payment dates

Improve the standards of the company : How would you use your knowledge of MIS/ICT to improve the standards of the company and compete favourably and also taking note of the probable challenges

Calculate Kristines final payments : Kristine Laremy has worked for Magnex Corp. in Alberta since she turned 21, in August, 2000. Calculate Kristines final payments

Write job application for the post of marketing manager : Write job application for the post of marketing manager.

Why did the ceo of longview ltd choose accounting treatment : Why did the CEO of Longview Ltd choose this accounting treatment? Discuss using the related accounting theory. The response must be typed.

What can you do to make sure that your employees : What can you do to make sure that your employees are performing their work efficiently and effectively? Here are the profiles of your employees:

Amortize the Lease Liability for Ragnar : There is an unguaranteed residual value of $10,000 at the end of year 4. The returned equipment was worth $7,500. Amortize the Lease Liability for Ragnar

User Account

All Pages