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Compute the net pay and journalize necessary

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Reference no: EM132927579

Question - W/ro Adanech Tamene has been working in Ries Engineering PLC with monthly Basic salary Birr 10,000, fuel allowance Birr 2,500 and House allowance Birr 1,500. In addition she also worked as part-timer in HM PLC with monthly income of Birr 5,000 per month.

Required -

A. Compute the gross income, taxable income, amount of tax with held by Ries Engineering PLC and HM PLC.

B. Compute the net pay and Journalize necessary payroll transactions in the books of Ries Engineering PLC and HM PLC.

Reference no: EM132927579

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