Question 1

Emily's residence is assessed by the local taxation department at $249 500.00. Calculate the property taxes paid on this property if the existing mill rate is 15.

Accepted Answer

The answer of Emily's residence is assessed by the local...

Question 2

Tom is employed at an annual salary of $50 292.48. His regular workweek is 37.5 hours and he is paid semi-monthly.
a) What is Tom's gross pay per period?
b) What is his hourly rate of pay?
c) What is his gross pay for a period in which he worked 12 1/2 hours overtime at time and one-half regular pay?

Accepted Answer

The answer of Tom is employed at an annual salary...

Question 3

Last week Dana worked 46 hours. For the regular workweek of 40 hours she is paid $12.40 per hour, and for every hour over 40 hours she is paid at time and one-half regular pay. How much did she earn last week?

Accepted Answer

The answer of Last week Dana worked 46 hours. For...

Question 4

Last week April worked 44 hours. She is paid $11.20 per hour for a regular workweek of 40 hours and overtime at time and one-half regular pay.
a) What were April's gross wages for last week?
b) What is the amount of the overtime premium?

Accepted Answer

The answer of Last week April worked 44 hours. She...

Question 5

An employee receives a gross pay of $750.73 for 47.25 hours of work. What is the hourly rate of pay if a regular work week is 37.5 hours and overtime is paid at time-and-a-half the regular rate of pay?

Accepted Answer

The answer of An employee receives a gross pay of...

Question 6

Extend and total the following invoice.

Accepted Answer

The answer of Extend and total the following invoice.
 ...

Question 7

Carla is paid a semi-monthly salary of $1870.80. Her regular workweek is 40 hours. Overtime is paid at time and one-half regular pay.
a) What is Carla's hourly rate of pay?
b) What is Carla's gross pay if she worked 7 1/2 hours overtime in one pay period?

Accepted Answer

The answer of Carla is paid a semi-monthly salary of...

Question 8

A pay stub shows gross earnings of $447.00 for 47 hours of work. What is the hourly rate of pay if the regular workweek is 40 hours and overtime is paid at time and one-half the regular rate of pay?

Accepted Answer

The answer of A pay stub shows gross earnings of...

Question 9

Sean's residence is assessed by the local taxation department at $160 000. Calculate the property taxes paid on this property if the existing mill rate is 20.

Accepted Answer

The answer of Sean's residence is assessed by the local...

Question 10

C.O. is paid a semi-monthly salary of 2 754.30. If his regular work week is 42 hours, what is his hourly rate of pay?

Accepted Answer

The answer of C.O. is paid a semi-monthly salary of...

Question 11

Jessica Hughes invested $40 000 on January 1 in a partnership. She withdrew $15 000 on June 1, withdrew a further $2000 on August 1, and reinvested $8 000 on November 1. What was her average monthly investment balance for the year?

Accepted Answer

The answer of Jessica Hughes invested $40 000 on January...

Question 12

Barb's Home Income Tax business operates only during tax season. Last season Barb grossed $38 790 including GST. During that season she spent $9500 before GST on her paper and supply purchases. How much does Barb owe Revenue Canada for GST?

Accepted Answer

The answer of Barb's Home Income Tax business operates only...

Question 13

A retail chain sells snowboards for $855.00 plus GST and PST. What is the price difference for consumers in London, Ontario, and Lethbridge, Alberta?

Accepted Answer

The answer of A retail chain sells snowboards for $855.00...

Question 14

C.O. is paid a semi-monthly salary of $1 250.00. If his regular work week is 35 hours, what is his hourly rate of pay?

Accepted Answer

The answer of C.O. is paid a semi-monthly salary of...

Question 15

Calculate the property tax on a property located in the City of Brampton and assessed at $326 500 if the current tax rate is 1.05351%.

Accepted Answer

The answer of Calculate the property tax on a property...

Question 16

The town of Pandora assesses property at market value. How much will the owner of a house valued at $325 000 owe in taxes if this year's mill rate has been set at 21.386?

Accepted Answer

The answer of The town of Pandora assesses property at...

Question 17

"Save the PST" is a popular advertising gimmick. How much would you save on the purchase of a T-shirt with a list price of $45.00 in a Manitoba store during a "Save the PST" promotion?

Accepted Answer

The answer of "Save the PST" is a popular advertising...

Question 18

A town has an assessed residential property value of $350 000 000. The town council must meet the following expenditures:
  a) Suppose 70% of the expenditures are charged against residential real estate. Calculate the total property taxes that must be raised.
b) What is the mill rate?
c) What is the property tax on a property assessed at $235 000?

Accepted Answer

The answer of A town has an assessed residential property...

Question 19

Denise Jantz invested $35 000 on January 1 in a partnership. She withdrew $5000 on June 1, withdrew a further $1900 on August 1, and reinvested $6 000 on November 1. What was her average monthly investment balance for the year?

Accepted Answer

The answer of Denise Jantz invested $35 000 on January...

Question 20

Kim Farrena earns $17.60 per hour. Overtime from Monday to Friday is paid at time and one-half regular pay for any hours over 7 1/2 per day. Overtime on weekends is paid at double the regular rate of pay. Last week Kim worked regular hours on Monday, Wednesday, and Friday, 8.5 hours on Tuesday, 11.75 hours on Thursday, and 5 hours on Saturday. Determine Kim's gross wages by each of the two methods.

Accepted Answer

The answer of Kim Farrena earns $17.60 per hour. Overtime...

Quiz 1: Review of Arithmetic