Total Salary TK. 50,000 Basic TK 40,000 House Rent TK 20,000 Telephone TK 2,000 Medical TK 5,000 Miscellaneous TK 3,000 Provident Fund @ 8.33% of Basic Annual Increment 12% It is decided by the company that if an employee serves the organization for 5 years, 100% of the provident fund will get mature. So, what will be the total amount of provident fund if that employee quits the job after 5 years?

Total Salary TK. 50,000 Basic TK 40,000 House Rent TK 20,000 Telephone TK 2,000 Medical TK 5,000 Miscellaneous TK 3,000 Provident Fund @ 8.33% of Basic Annual Increment 12% It is decided by the company that if an employee serves the organization for 5 years, 100% of the provident fund will get mature. So, what will be the total amount of provident fund if that employee quits the job after 5 years?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 15E

See similar textbooks

Similar questions

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?
The fixed rent per month is P5,000. The salary and supplies expenses are P50 for every P100 services rendered. Total service income is P100,000. The operating expenses amount to: a. P55,000 b. P50,000 c. P45,000 d. P 5,000
show your solution A bonus package pays an employee $1000 at the end of the first semi-annual, $1500 at the end of the second semiannual, and so on, for the first nine years of employment. What is the present worth of the bonus package at 6% per year compounded monthly a.$28,233 b.$47,665 c.$66,480 d.$19,090
owe Sub-Accounting NewCorp offers its employees a 401(k) plan. The company matches employee contributions at 50% up to 10%. Randy just started working for NewCorp. His annual salary is $61,575, and he's paid monthly. Randy would like to have $250,000 in his 401(k) when he retires in 32 years. If his investments earn 7.5%, what percent of his salary should he contribute to his account?
Q15 Under Present value future earnings model, how to compute the value of human resource if Mr. Ansari is appointed at the age of 30 in the organization and his service period expires in 30 years, once he attains the age of 60. The p.v. factor is assumed at 10%. Incase if Mr. Ansari draws a salary of OMR 600 per month then how is salary computed according to this method? a. All options are correct b. His each year’s salary of OMR 7,200 is multiplied with p.v. factor at the rate of 10% c. His salary is OMR 7,200 every year up to 30 years of his service. d. Finally net present value is found and added to get the p.v. of future earnings
When John Conrad, Inc., merged with Nill Men’s Suits Inc., John’s employees were switched from a weekly to a bi-weekly pay period. John's weekly payroll amounted to $750,000. The cost of funds for the combined firms is 11%. Show Solutions and Explanation. A. What annual savings, if any, are realized by this change of pay period (Format: 11,111)
CLTV Section A company secured a contract that will result in income payments received of $280,000 today, $400,000 in 2 years and $600,000 in 5 years (these are single or lump sum payments they get). The expenses or outflows will include payments of $10,000 at the beginning of every month for 6 years and a one-time payment (expense) of $50,000 in one year from today. If the cost of money is 17% compounded annually, determine the Net Present Value (NPV) of the contract. a)What is the PV of the inflows? b) What is the PV of the outflows? c) What is the Net Present Value (NPV)?
Principal Rate Time Period Interest Php 1,000,000 5% 5 months Php 250,000 Php 200,000 7% c.) Php 7,000 Php 50,000 b.) 1 year Php 4,000 a.) 10% 120 days (use 1 years = 360 days) Php 20,000 thank youuu <3
Caculate gross pay if you earn 6% commission on sales above $15,000 plus a $2,500 base salary. A special incentive will give an extra 3% bonus commission on any sales about $30,000. Caculate the total gross pay on sales of $50,000.
Tutor, Incorporated (TI) provides instructional services to its customers. TI charges $240 per student. The Company expects to serve 700 students during the coming year. All of the Company's expenses are fixed. Total annual fixed costs are projected to be $80,000. If the estimated number of students decreases by 10%, net income will
Engineering Economics Eric borrowed P3, 500, 000 at 8% for 10 years. The loan stipulated that the following payments have to be made: P150, 000 at the end of the 1st year to the 3rd year; P200, 000 at the end of the 4th to the 5th year; P300, 000 at the end of the 6th to the 7th year; P400, 000 at the end of the 8th to the 9th year; and a final payment at the end of the 10th year. What should be the amount (Q) of the final payment?
Rent (Binding 20-Year Lease) $1,000 Per Week Sales $2,000 Per Week Raw Material Cost $1,000 Per Week Value of Your Own Labor $500 Per Week As president and owner of the Sour Grapes Lemonade Company, you face the costs shown. To maximize your financial well-being, you should