Answer to Question #211234 in Other for mafi

Question

Name of the Employee Basic Salary Transport Hardship overtime

Allowance Allowance Hours duration Abebe Gemeda 12,000 4,000 3000 16 Holiday

Ayisha Sultan 6000 3000 2000 12 Normal

Chala Tola 8,000 3500 2500 10 Weekend

Ahmed Seid 5000 2500 1500 8 Late

1. All employees are expected to work for 40 hours per week and a month has 4 weeks. And all employees perform as it is expected

2. All employees except Chala Tola are permanent

3. All employees except Ayisha Sultan Contribute 4% to wards credit association

4. The employer (ABC Company) contributes 20% of each permanent employee’s towards provident fund

Based on the data given above calculate

A. Overtime of each employee

B. Gross earnings of each employee

C. Taxable income of each employee

D. Income tax of each employee

E. Provident fund of each employee

G. Credit association of each employee

H. Total deductions of each employee

I. Net pay of each employee

J. Prepare a payroll register

K. Record all the required journal entries

Answer 1

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