User Account

All Pages

How much is the salaries expense at june

Assignment Help Financial Accounting
Reference no: EM132893985

A company has a fortnightly payroll of $200,000. On average, 50% of the employees take their full entitlement of two weeks sick leave, 30% take half of their full entitlement and 10% take only one day of sick leave per year. The company deducts 20% income tax and 10% for superannuation. All deductions are paid out by the 15th of the following month.

Question 1: Assume the pay period ends on Friday 3rd July and the financial year ends on 30th June. How much is the salaries expense at 30th June?

Reference no: EM132893985

Questions Cloud

What date and how much will be paid for income tax : Assume the pay period ends on Friday 3rd July and the financial year ends on 30th June. At what date and how much will be paid for income tax?
What are the source and the sink for a maximum flow problem : What are the source and the sink for a maximum flow problem? For each, in what direction do all their arcs point
Explain policy design and implementation : Why is it important to take gender concerns into account in policy design and implementation?
What is the net price of the leather jacket : A distributor is selling its leather jackets that were listed for $490 with the following three discounts: 11%, 6%, and 3%. What is the net price of the jacket
How much is the salaries expense at june : Assume the pay period ends on Friday 3rd July and the financial year ends on 30th June. How much is the salaries expense at 30th June?
Buy more or less of chosen currency : If the chosen currency against the U.S. dollar depreciates, can the U.S. dollar buy more or less of the chosen currency?
Find the ex-rights price of the stock : A company has 5 mil shares outstanding at a price of 8 GBP. The price of the new share is 3 GBP. Find the ex-rights price of the stock
Explain how well-managed supply chain : How does this company's ratio compare to those of its competitors? Explain how a well-managed supply chain can come into play here.
Create butterfly spread with the european calls : How can you create a butterfly spread with the European calls ? Calculate the profit function of the butterfly strategy on the expiration date

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the cost of new common equity financing of stock q

Calculate the cost of new common equity financing of stock Q using Gordon Model. Round the answers to two decimal places in percentage form

  What accounts are credited and debited to deal

on the 1st january. You also use $30000 as working capital. What accounts are credited and debited to deal with these two transactions?

  Evaluate the amount of manufacturing overhead costs

For Fox Manufacturing, determine the annual manufacturing overhead cost-allocation rate and evaluate the amount of manufacturing overhead costs allocated to the Maize High School job.

  Compute net gain-loss that is amortized in each of two year

In 2010 there is also a $200,000 opening balance in Accumulated OCI for unrecognized gains. The average remaining service life per employee in 2010 is 10 years, and in 2011 it is 12 years. Compute the net gain/loss that is amortized in each of the 2 ..

  What is the tax expense reported on the income statement

The company reported $12,000 of depreciation expense on its income statement in 2010 and $18,000 in 2011. What is the tax expense reported on income statement

  A weak corporate governance structure

What are some of the characteristics of a weak corporate governance structure that would promote fraud?

  Which employee benefit items to be recorded

AASB 119 requires which employee benefit items to be recorded at their discounted amounts? cumulative sick leave that has accrued for longer than 12 months.

  What was the rate of? return

Lance decided to sell it on? e-Bay and only received 5,100 for? it, and so he took a loss on the investment. What was his rate of? return, that? is?

  What price should be charged if units are expected

A company has $6.50 per unit in variable costs and $4.50 per unit in fixed costs, what price should be charged if 56,000 units are expected to be sold?

  Which does not correctly describe an adjusting journal entry

Which of the following does not correctly describe an adjusting journal entry that debits interest expense and credits interest payable?

  Compute the weighted-average number of ordinary shares

Compute the weighted-average number of ordinary shares outstanding for 2021 that should be shown on comparative statements at the end of 2021

  From the previous revenue recognition standard

Recently the FASB and IASB issued a new Revenue Recognition standard. Go to both the FASB and IFRS websites. Discuss this new standard using information obtained from both websites. Is this new standard significantly different from the previous reven..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd