Cody is 31 years old. His only income is from employment, and his CPP pensionable earnings are $43,500. His employer deducted CPP contributions of $2,300. Does Cody have a CPP overpayment or CPP underpayment and if so, how much? O $20.00 CPP overpayment O$146.75 CPP overpayment O$179.50 CPP underpayment O The correct amount of CPP was withheld therefore no CPP overpayment or CPP underpayment 4
Cody is 31 years old. His only income is from employment, and his CPP pensionable earnings are $43,500. His employer deducted CPP contributions of $2,300. Does Cody have a CPP overpayment or CPP underpayment and if so, how much? O $20.00 CPP overpayment O$146.75 CPP overpayment O$179.50 CPP underpayment O The correct amount of CPP was withheld therefore no CPP overpayment or CPP underpayment 4
Chapter15: Choice Of Business Entity—other Considerations
Section: Chapter Questions
Problem 51P
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Transcribed Image Text:Cody is 31 years old. His only income is from employment, and his CPP pensionable earnings are $43,500. His employer deducted CPP contributions of $2,300. Does Cody have a CPP overpayment or CPP underpayment and if so,
how much?
$20.00 CPP overpayment
$146.75 CPP overpayment
$179.50 CPP underpayment
The correct amount of CPP was withheld therefore no CPP overpayment or CPP underpayment
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