1.2 Study the information provided below and calculate the hourly recovery tariff per hour (expressed in rands and cents) of Martha. INFORMATION The basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her basic monthly salary. Her employer contributes 8% of her basic salary to her pension fund. She works for 45 hours per week (from Monday to Friday). She is entitled to 21 days paid vacation leave. There are 12 public holidays in the year (365 days), 8 of which fall on weekdays.
Q: Using the augmented matrix obtained from the previous number, perform Gaussian elimination (Upper…
A: Interest on principal amount :- Principal amount * rate of interest * time From the give…
Q: The fundamental ethical principles that all chartered accountants and registered auditors should…
A: Auditors are the professionals who check each detail furnished by the client through his/her…
Q: List Price Trade Discount Rate Trade Discount $282.00 25% Net Price
A: Discount means the reduction in the amount to be paid on purchase of something. It could be cash…
Q: Castor Incorporated is preparing its master budget. Budgeted sales and cash payments for merchandise…
A: Cash budget is the budget which is prepared to know the estimated total receipts and total payments.…
Q: Partners ABC, DEF, GHI and JKL initially invested P45,000; P60,000; P65,000 and P85,000 each to form…
A: Net income of partnership is the amount of profits earned by the partnership firm. This is to be…
Q: Cahuilla Corporation predicts the following sales in units for the coming four months: Sales in…
A: Budgeted Production units :— It means estimated Units of Product Manufactured Or Produced. It is…
Q: Kelsey is preparing its master budget. Budgeted sales and cash payments for merchandise purchases…
A: The cash budget indicates the estimated cash inflows and cash outflows. The companies prepare a cash…
Q: A company estimated $420,000 of factory overhead cost and 28,000 direct labor hours for the period.…
A: Predetermined Overhead Rate=Estimated factory overhead costEstimated direct labor hours
Q: Ripley Corporation's accumulated depreciation furniture account increased by $9,310, while $3,570 of…
A: Cash flow from operating activities is one of the three activities shown in the statement of cash…
Q: Record the journal entries for the 2 listed events below. 1. On June 13, 2022, Best Buy issued…
A: Introduction: A journal entry is a record of a business transaction in an accounting system. Journal…
Q: Pulsar Plc is considering of exporting its products to the Swedish market. It expects to earn an…
A: Formula = Economic profit / ( loss) = Revenue Less : opportunity cost Less : explicit cost
Q: CakeCo, Inc. has three operating departments. Information about these departments is listed below.…
A: Introduction: Maintenance costs are one-time or ongoing expenses incurred by a firm to maintain its…
Q: Samantha’s normal wage is R300 per hour and her normal working day is 8 hours. The standard…
A: Compensation paid to an employee can be based on either a piece wage system or a time wage system.…
Q: BFAR Corp. was authorized to issue 300,000 P7 par value ordinary shares. It received subscriptions…
A: Subscribed share capital is the shares that have been subscribed by the investors. These may be paid…
Q: Read the below information and answer the following questions INFORMATION Extract of the Statement…
A: Cash Budget are prepared using the information provided to find out the cash balance for June and…
Q: Corporations Question 1 M & C Corporation charter authorizes 1,000,000 shares of common stock and…
A: According to the given question, we are required to prepare the journal entries, stockholders'…
Q: BFAR Corp. has 200,000 shares authorized and has the following information at the end of its first…
A: The issue price per share is the amount that shareholders receive for purchasing each share of…
Q: Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and…
A: Variable costs :- are costs that change with each level of output while fixed costs do not change…
Q: Sky Company is unable to reconcile the bank balance at January 31. Sky's reconciliation is as…
A: A bank reconciliation statement is prepared by the management to match the company's cash balance…
Q: How much is the total shareholders' equity on December 31, 2021?
A: The Shareholders' Equity is consist of the net worth of the companies, and it also refers to the…
Q: Hint: Use the relation (Beg. Accounts Payable + Purchases on Credit - Payments on Accounts Payable =…
A: Merchandise purchase budget is prepared by the Business Entity to provide for the estimated…
Q: If money is worth 8% annually, what annual payment is required to raise ₱ 18,811 after 2 years if…
A: Future Value of Annuity Due = (1 + r) x P x [{(1 + r)^n} - 1] / r
Q: ash distributed to DEF.
A: A partnership refers to a business in which two or more people work together to form an…
Q: ABC Company reported total cash and cash equivalents of P6,831,250 on December 31, 2020, which…
A: Cash and cash equivalents are the liquid current assets which are the most used ones and are shown…
Q: e. Purchased supplies on account on October 5 for future use, $18. f. Paid accounts payable on…
A: Ledgers - After recording transactions in the journal next step is to transfer them into ledgers.…
Q: Current Attempt in Progress Blossom Enterprises purchased equipment on March 15, 2021, for $67,970.…
A: Under straight line method of accounting, asset value will be depreciated equally over the life…
Q: Thornton Painting Company is considering whether to purchase a new spray paint machine that costs…
A: Unadjusted rate of return is computed by dividing the increase average income with the initial cost…
Q: Assume a manufacturer of automobiles. How would the cost of steel used in the manufacture of the…
A: Prime cost - These costs are those costs that are directly incurred to create a product or service…
Q: able - £30,000 Notes Payable - £30,000 Building and Improvements - £250,000 Account…
A: whenever the preparation of balance sheet is done by the company there are certain rules which…
Q: Study the information given below and calculate the value of closing inventory as at 31 March 2022…
A: Inventory valuation is a very important and crucial part that is to be played by the management. The…
Q: Describe the positives and negatives for this development project. FIGURE 2.1 Project Evaluation and…
A: Development project refers to the sets up firms, tools as well as networks which have impact in…
Q: Deferred Tax Calculations (Appendix) Wyhowski Inc. reported income from operations, before taxes,…
A: Their is no deferred income tax during the year
Q: Accounts Payable had a balance of 4,400 at the beginning of the month and 6,200 at the end of the…
A: Payments made to the suppliers can be found out by adding opening accounts payable balance with…
Q: Create a General Journal Merchandise Operation (Perpetual Activity) on JIBT DISTRIBUTORS
A: Under the perpetual inventory system the inventory account is update at the time of each sale and…
Q: Record the journal entries for the 2 listed events below. 1. On June 13, 2022, Best Buy issued…
A: Introduction: Journals: Journals also called as Book of prime records. All the business transactions…
Q: What is the residual income if Cost of capital is 12% (in order to properly measure the performance…
A: Computation of residual income :- Profit - Return of capital Employee Return of capital Employee…
Q: 1 2 5. Lacson invested P100,000 cash in the business 7. Paid P5,000 for office rent for the month…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: The landfill for a particular city in Laguna has an area of 30 acres available for receiving waste…
A: Break even point is the point in which the entity (landfill) will make no profit no loss. Hence at…
Q: At the beginning of the current year, BFAR Corp. was authorized to issue 100,000 shares with P50 par…
A: The retained earnings increases with revenue and decreases with losses during the period. The…
Q: How much is the total Accumulated Profits as of December 31, 2021
A: Accumulated profits is the profit earned by the entity and which is lying in the Balance Sheet of…
Q: project. 1. Record transactions with journal entries in the General Journal. 2. Post journal entries…
A: Journal Entry The purpose of providing the journal entry to enter the required transaction into…
Q: Describe your understanding of budgets, both fixed and flexible, in the context of controlling and…
A: Organizations produce budgets for a variety of purposes, including cost control, performance…
Q: 8 9 10 11 12 13 14 Dividends payable salary expense Cash Cash Ordinary Share Capital cash Cash…
A: Answer:- Computation of net cash flow from operating activities:- Cash flow from operating…
Q: A fundamental analyst uses the discounted cashflow method to value firms, and has a short-term…
A: Fundamental Analysis is a technique to value firms on the basis of their fundamentals i.e. their…
Q: 2.1 Use the information provided below to calculate the number of units of Product Tex that must be…
A: Given that, Estimated Sales volume for ; June = 25 000 units July = 21 000 units August = 30 000…
Q: Prepare a Debtors Collection Schedule using the below information?
A: Debtors Collection Schedule :— In this schedule we makes schedule of cash collection of Credit sales…
Q: B, C D are partners in a firm. Their Balance Sheet as on 31/12/2021 is as follows: Liabilities…
A: Calculation of amount payable to the legal representative of C :- Particulars Amount C's…
Q: 1. Compute Lavender's fixed asset turnover ratio for 2016, 2017, and 2018. 2. During 2018, Zhu and…
A: Assets turn over ratio:- Assets turnover ratio is ratio between the value of the company sales…
Q: 2. Complete the below table to calculate income statement data in common-size percents. (Round your…
A: Common size financial statement refers to an analysis statement of the record of a company in a…
Q: Sharp Motor Company has two operating divisions-an Auto Division and a Truck Division. The company…
A: Cost Charged :- Cost include all type of variable Cost ( DM, DL, Variable manufacturing Cost,…
Hi can you please assist with this
Step by step
Solved in 2 steps with 2 images
- The basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her basic monthlysalary. Her employer contributes 8% of her basic salary to her pension fund. She works for 45 hours per week (fromMonday to Friday). She is entitled to 21 days paid vacation leave. There are 12 public holidays in the year (365days), 8 of which fall on weekdays. Study the information provided below and calculate the hourly recovery tariff per hour (expressed inrands and cents) of Martha.Study the information provided below and calculate the hourly recovery tariff per hour (expressed inrands and cents) of Martha.INFORMATIONThe basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her basic monthlysalary. Her employer contributes 8% of her basic salary to her pension fund. She works for 45 hours per week (from Monday to Friday). She is entitled to 21 days paid vacation leave. There are 12 public holidays in the year (365 days), 8 of which fall on weekdays.Study the information provided below and calculate the hourly recovery tariff per hour (expressed inrands and cents) of Martha. INFORMATIONThe basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her basic monthlysalary. Her employer contributes 8% of her basic salary to her pension fund. She works for 45 hours per week (from Monday to Friday). She is entitled to 21 days paid vacation leave. There are 12 public holidays in the year (365 days), 8 of which fall on weekdays.
- G7. CALACULATE FREDDY S LABOUR RATE PER HOUR? IF HER MONTHLY SALARY IS 10 000.SHE GE R9000 BONUS.HER EMPLOYER CONTRIBUTE R9000 ON HER PENSION.SHE WORK FOR 9 HOURS PER DAY FROM MONDY TO FRIDAY EACH WEEK.SHE IS HAVING 28 DAYS VACATION LEAE .THERE ARE 12 PUBLIC HOLIDAY IN YEARSJuan earns the basic salary of P44,000 a month. His daily compensation rate is P2,000. For the current month, Juan availed a total 3-day vacation leave with pay. Of the basic salary, how much should be reported as the salary of Juan for the current month? P50,000P44,000P38,000P22,000Calculate the hourly recovery tarrif (rounded to the nearest cent) of Brenda from information below : info the basic annual salary of Brenda is R240 000. She is entitled to an annual bonus of R20 000. Her employer contributes R24 000 per annum to her pension fund. She works for 8 hours per day Monday to Friday each week. She is entitle to 21 days paid vacation leaver. There are 12 public holidays in the year 365 days, 10 of which fall on a weekdays
- Your employer contributes 50 a week to your retirement plan. Assume that you work for your employer for another sixteen years and that the applicable discount rate is 6.5 %,compounded weekly. Givn these assumptions, what is this employee benefit worth to you today? 24135.99 25852.63 24218.04 25920.55 21574.68Mo Salah is employed by Liverpool Limited. The normal working week is 45 hours. Mo Salah worked for 48 hours during the last week of March 2022. He is remunerated at R90 per hour during normal working hours. Overtime is calculated at 1.5 times the normal rate. The following are her deductions for the week:· Medical aid fund R400· Pension fund 8% of the normal wages· Income tax R850Liverpool Limited contributes the same amount as the employees towards the medical aid fund and pension fund.Required:Calculate the net wage of Mo Salah for the last week of March 2022.1. a) Differentiate vesting sick leave and non-vesting sick leave. b) Provide two examples of long-term employee benefits2. Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks',non-vesting sick leave per annum. Past experience suggests that 56% of employees will take thefull 2 weeks' sick leave and 22% will take 1 week's leave each year. The rest of the employeestake no sick leave.a) Calculate the expected annual sick-leave expense for Dainty Ltd (on the basis of averagesalaries).b) Provide the journal entry necessary to recognise the sick-leave entitlement expense as itaccrues each week.c) In the current week an employee with a weekly salary of $600 has been off sick for the firsttime this year. The employee took 2 days off out of her normal 5-day working week. Assumingthat PAYG tax is deducted at 30%, what would the entry be to record the employee's weeklysalary (round amounts to the nearest dollar)?
- Question: Mr Rayan’s Salary structure is as follows: Basic salary Tk. 30,000 Provident Fund @ 5% of Basic Annual Increment 10% It is decided by the company that an employee will be entitled with gratuity if he continues his employment for at least 4 years. What will be the gratuity amount if Mr Rayan quits the job after 5 years?Calculation of Take-Home Wages (Accounting for Liabilities). Lina Lu is an hourly worker who earns $50 per hour. During the prior week, Lina worked 40 hours. The FICA rate is 6.2% and Medicare Rate is 1.45%. Lina's total wages for this payroll are subject to the aforementioned taxes. In addition, she had deductions of $280 for federal income tax and $80 for insurance contribution. What is her net pay? Can you please show how you came to this answer? Thank you!QUESTION 7)A) If the subcontractor employee Nazan, who is free to choose the working period, works 55 hours a week at an hourly wage and maximizes her benefit by earning an income of 1.000 TL per week, show this situation on the figure.B) Suppose that the government employs subcontractor employees, and those who previously worked on an hourly rate depending on the subcontractor now have to work 40 hours, which is a legal working time, for a fixed salary of 1000 TL per week. How to maximize the benefit of Mrs. Nazan in the new situation, add the new situation to the chart in (a) and show it on the same chart. Has the new situation increased or decreased the benefit of Mrs. Nazan?