An individual has a gross monthly salary of £2,000. Five per cent national insurance is paid by the employee, 6% is paid by the employer. PAYE has been calculated at £380 for the month. He receives an interest-free travel loan of £100 per month which is deducted from his salary and his monthly subscription to a Christmas club fund is £50 which comes straight out of his salary. Calculate his take-home pay.

Q: An appliance company has three installers. Larry earns $395 per week, Curly earns $440 per week, and…

A: (a) calculate SUTA and FUTA tax (in $) does the company owe for the first quarter of the year and…

Q: Donny is employed by ABC Limited. His normal working week is 46 hours (Monday to Friday). The number…

A: Working to calculate Total Labour cost to ABC Ltd in respect of Donny for the week in March 2021: 1.…

Q: Westway Company pays Suzie Chan $3,000 per week. Assume Social Security is 6.2% on $128,400 and…

A: Deductions: When the taxpayer is given some exemption from tax by the government or the concerned…

Q: Irish paid a monthly salary of 15,000.00 and earn a commission of 3% in sales. If she sold a monthly…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: A worker is paid $10,000 per month and a dearness allowance of $2,000 p.m. Worker Contribution to…

A: Basic salary includes wages and dearness allowance. Contribution to provident fund is calculated on…

Q: A company has four employees .The following Payroll information has been provided for the month of…

A: The income tax is the amount of tax payable on the taxable income by a  taxpayer. The taxable income…

Q: An appliance company has three installers. Larry earns $345 per week, Curly earns $480 per week, and…

A: FUTA: FUTA means the "Federal Unemployment Tax Act" which provides for the levy of tax on the wages…

Q: A job pays an annual salary of $33,150, which includes a holiday bonus of $750. If paychecks are…

A: Paycheck-: A paycheck is a monthly salary or wage that a person earns in his or her job. It is…

Q: Christine Boone is an employee at Americamp Vehicles. She earns a salary of $34,900 annually, paid…

A: Given : Medical insurance = $86 Dental insurance = $18 401(k) 5% of gross pay…

Q: Juan earns the basic salary of P44,000 a month. His daily compensation rate is P2,000. For the…

A: Vacation leave with pay means that the employee can take a pre-fixed number of vacation leave days…

Q: a company employee earns 40,000 per year. A self-employed person also earns 40,000 but pays 6,120…

A: But half of the contribution were withheld from employee salary

Q: Galante Company provides free driver and a housemaid to its general manager, Alfredo Lobo. The…

A: This question deals with the fringe benefit tax in Philippines. In Philippines, fringe benefit…

Q: A call center agent receiving a monthly salary of P21,000 with mandatory annual deductions of…

A: Gross income refers to the aggregate amount earned through person before the taxes as well as any…

Q: gross earnings per pay period

A: Salary for a year (A) $68,000 Number of weeks in a year (B) 52 Gross earnings per week (C = A/B)…

Q: 2. Rona works for a company that pays him a basic monthly salary of 120 000 plus 6.5% commission on…

A: Lets understand the basics. For calculating gross pay, we need to use below formula. Gross pay =…

Q: A man earns a salary of $114,764 annually and is paid biweekly. How much is his gross biweekly…

A: Formula: Gross biweekly income = Annual salary / Number of bi week Division of annual salary with…

Q: In 2013, workers earned one credit towards Social Security for every $1,160 in earnings, up to a…

A: The answer is given in the below step.

Q: Michael makes an annual salary of $42,525 he is paid semi-monthly. What is his gross pay? And…

A: Gross pay is pay before deductions. After deductions of taxes give net pay.

Q: 1. Compute for his withholding tax for the month of March given that he had overtimes amounting to…

A: A withholding tax is an amount that an employer withholds from employees’ wages and pays directly…

Q: Hillary sells cosmetics from her part time  home based business. she receives a straight  commission…

A: Often companies do not sell their own products directly. Instead they use third parties as…

Q: JYD Accounting Firm pays its employees at a rate of $50/hr. The tax and other deductions amount to…

A: Net pay = Gross pay - taxes and other deductions

Q: Brianna's semimonthly salary is $3,875. What would be her equivalent biweekly salary (in $)? (Round…

A: Total months in year=12 semi months=12*2=24

Q: Paul works 5 days a week (Monday to Friday), 8 hours per day. He is paid $27.50 per hour. He is paid…

A: Answer:-  Group term life insurance definition:- As the name implies, a group term life insurance is…

Q: Soledad receives a bill for P18,000 dated July 7 with terms 6/15, 4/30, n/60. What cash discount…

A: The term credit sales represent a transfer of goods or services to a customer but the payments are…

Q: DealsToday offers its employees a defined contribution plan. The company matches employee…

A: The defined contribution plan is refer to as where the employee contribute to the pension fund and…

Q: Study the information provided below and calculate the hourly recovery tariff per hour (expressed in…

A: When costs incurred are allocated to the revenue earned, it is known as recovery rates. It simply…

Q: Mr Smith's annual salary is $45,000. His regular workweek consists of four 10-hour workdays. He is…

A: Biweekly and bimonthly can mean the same thing because of the prefix bi-, which here can mean…

Q: Westway Company pays Suzie Chan $3,060 per week. Assume Social Security is 6.2% on $128,400 and…

A: 1. Social Security Deduction = Payment per week ($3,060) x No of weeks in a year (52) x 6.2% =…

Q: A salesman earns a salary of $2000 per month plus 4% of all sales he make. The salesman make $25000…

A: Formula: Total Income = Salary + Bonus Sum of both salary and bonus derives the total income per…

Q: Connor has an annual salary of $43,000, and his company pays him twice a month. How much is withheld…

A: FICA includes three kind of withheld:- 1) Social Security Tax - 6.2% from the first $137,700 an…

Q: The basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her…

A: Hourly recovery tariff is calculated by dividing the pay for the period by the number of hours…

Q: X, an employee of New Horizons Ltd., draws 5,00,000 as basic pay, 5,000 per month as dearness…

A: Under Income Tax Act , 1961 Incomes are divided into Salaries, House Property, Capital Gains, Profit…

Q: What will be his expected pension (a monthly allowance from the accumulated deposits) if the…

A: 1) Number of periods = 65 - 25 = 40 Number of periods = 40 * 12 = 480 Monthly rate = 3.6% / 12 =…

Q: Thomas earns $52,000 per year in salary. You pay 15% for federal income tax, no state taxes, no…

A:

Q: Sam Smith is currently employed as a mechanical engineer and is paid$65,000 per year plus benefits…

A: The potential benefit that is missed by the investor, individual, or company to select an investment…

Q: Louise Mclntyre's monthly gross income is $3,100. Her employer withholds $780 in federal, state, and…

A: Given the following information: Gross income: $3,100 Employer withholds $780 in federal, state,…

Q: An individual contributes $200 per month to a 401(k) retirement account. The account earns interest…

A: Monthly Contribution $200 Annual Interest Rate 8% Period  35 Years Because of Compounding…

Q: Ahmed receives 22% commission on the appliances he sells. He sells a kettle for 2000 taka, a food…

A: Basic Salary = 34,000 Commission = 22%   Sales = Kettle sales + Food Processor Sales + Oven Sales…

Q: 4. If a person earns P340,560 a year, find the person's salary if the person is paid weekly.

A: There are 366 days in a year which comprises of 52 weeks and 2 days . 1 week = 7 days

Q: Steven takes a full-time position that pays an hourly wage of $32. The job assumes that he will work…

A: Salary - It is the amount of compensation will paid by the employer to employee for the performance…

Q: 1. Suppose a business wants to provide $2000 a month per employee for indemnity health insurance.…

A: Tax is a charge which is charged to the taxpayer on the taxable income. The tax amount has to be…

Q: During the previous year, X (40 years) is employed by a private company. He gets `70,000 as basic…

A: Since, it is not mentioned anything regarding the Tax Regime opted. we have taken that the Employee…

Q: The basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her…

A: The effective hourly rate is the hourly wage rate of the employee. The effective hourly rate…

Q: An appliance company has three installers. Larry earns $375 per week, Curly earns $440 per week, and…

A: (a) Larry earns $375 per week (b) Curly earns $440 per week (c) Moe earns $595 per week (d) It is…

Q: hour, with Mr. Juan, an employee, has a pay rate of P125 time and a half for hours worked in excess…

A: Net Pay = Gross Salary - SSS Deduction - PhilHealth - Pag-IBIG - Withholding Tax

Q: Mr. Sadot Basa earns a monthly income of 45,690. He receives his income twice a month (15th and 30th…

A: Some companies offer monthly payments on 15th and 30th of the respective months because biweekly…

Q: Suppose that an entry level policeman has a basic salary of P33,575 per month. He has to pay monthly…

A: Net Income is the money of pay remaining for issuance to the employees after deducting the…

Q: You are a salaried employee, paid semi-monthly. You earn $5,200 gross income each pay period. What…

A: Here we are told that gross income is paid semi-monthly. That means twice in a month.  We are…

Q: Addidas Co. pays $190 per month for Jay's insurance, $22 per month for his disability insurance, and…

A: Journal entries are the entries to be recorded in the accounting books of the business for all the…

Q: Watson's hourly wage is $18, and his net pay is 72% of his earnings. Watson spends about $1,800 on…

A: Here, Hourly Wage is $18 Working Hours per week is 40 hours No. of Week in a Month is 4 Net Pay is…