Calculate his net wages, The first £110 per week is free of

Calculate his net wages

Assignment Help Financial Accounting

Reference no: EM131385445

F. Moore has a basic working week of 40 hours, paid at the rate of £10 per hour. For hours worked in excess of this he is paid 1 1 /2 times basic rate. In the week to 12 March 2016 he worked 46 hours.

The first £110 per week is free of income tax, on the next £60 he pays tax at the 20 per cent rate and above that he pays at the 25 per cent rate. National Insurance amounted to £32. Calculate his net wages.

Reference no: EM131385445

Questions Cloud

What is the profit earned by each firm in the industry : Suppose that there are only two firms (Firm A and Firm B) in the market for decorative lampshades. Let the inverse demand function and the total cost function be given by: P = 50 –Q and TC = 2Q. How many lampshades would be produced by the entire i..

Two laws that affect the operations of labor markets : Two laws that affect the operations of labor markets are the minimum wage law and the right to work law (where a person can choose to join a union). Who benefits and who loses from each of these laws. Give at least two examples each.

Calculate his net pay for the month : In addition to this, he has further reliefs of £430. The taxable pay is taxed at the rate of 20 per cent on the first £250, whilst the remainder suffers the 25 per cent tax rate. In addition he pays National Insurance of £190. Calculate his net pa..

Calculate his net pay for the month : The first £800 per month is free of income tax, on the next £120 he pays tax at the 20 per cent rate and above that he pays at the 25 per cent rate. He also pays National Insurance for the month of £620. Calculate his net pay for the month.

Calculate his net wages : The first £110 per week is free of income tax, on the next £60 he pays tax at the 20 per cent rate and above that he pays at the 25 per cent rate. National Insurance amounted to £32. Calculate his net wages.

Calculate his net wages : According to the requisite tables the income tax due on his wages was £46, and National Insurance £28. Calculate his net wages.

Record above transactions in columnar book of original entry : Record the above transactions in a columnar book of original entry and post to the general ledger in columnar form.

The purchases detailed above laira brand : On 1 May 2017 Laira Brand owed Mudgee Ltd £2,100.47. Other than the purchases detailed above Laira Brand made credit purchases (including VAT) of £680.23 from Mudgee Ltd on 15 May. On 21 May Mudgee Ltd received a cheque for £2,500 from Laira Brand..

Prepare a trial balance as at 31 march 2016 : Make the necessary postings from the Sales Day Book to the personal and nominal accounts in the ledger.- Prepare a trial balance as at 31 March 2016.

User Account

All Pages