9-18 -- (Part Level Submission) Madawaska Timber Inc. had the following transactions: FULLSCREEN PRINTER VERSION...
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9-18 -- (Part Level Submission) Madawaska Timber Inc. had the following transactions: FULLSCREEN PRINTER VERSION Feb. 14 BACK SITE Feb. 15 The board of directors for Madawaska Timber Inc, approved a bonus payout to employees in the amount of $300,000. The source deductions on the bonus earned were which Madawaska matched; El of $4,890, which it matched at 1.4 times, and income taxes of $60,000 and finally, $3,000 to the Union of Forest Workers (UFW) to cover union des in $14.30 addition, Madewaska was required to pay Workers' Compensation Board ( WCB) of British Columbia premiums of 6.54 based on the bonus con Paid the bonus approved by the board of directors on February 14 Made the remittance to the government related to the February 14 bonus. Made the remittance to UFW related to the February 14 bonus. Feb. 20 Feb. 21 (a) Determine the amount of the employees' net wages, the total wages expense for Madawaska and the total amount that is payable to the government on Feb. 20. (Round new places, e.g. 125.) Employees' Net Wages Total Wages Expense Total amount that is Payable to the Government
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