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prob008 - Problem 8(Text Ch 3 Susie Sellem is a top real...

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Problem 8 (Text: Ch. 3) Susie Sellem is a top real estate salesperson employed by Sellem, Sellem and Fast Limited, a Canadian-controlled private corporation located in Burlington, Ontario. Susie has provided you with the following details of her remuneration for the year ended December 31, 2008. Gross commission before payroll deductions .................... $126,000 Less: Income taxes withheld at source ........................................ $44,919 Canada Pension Plan contribution ..................................... 2,049 Employment Insurance contribution .................................. 711 Registered pension plan contribution (money purchase; current service) ............................................................ 6,750 Group term life insurance premium ................................... 300 Group accident income protection plan premium .............. 250 United Way payroll deduction (registered charity) ............ 360 (55,339) Net commission after payroll deductions ........................... $70,661 Susie indicated to you that her employer paid the following amounts on her behalf during 2008. Registered pension plan contribution (money-purchase) .......................... $6,750 Group term life insurance premiums ........................................................ 700 Group accident income protection plan premium ..................................... 250 Employer health tax ................................................................................. 2,520 Dental plan premium paid to Manulife Financial ..................................... 1,440
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