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Mr. Abdul working in sports association he's salary expenses OMR 500 in the year of 2020. Salary Expenses include OMR 250 for 2019 whereas $ 300 is still payable on this account for 2020. Calculate the total salary expense.
Select one: a. OMR 450 b. OMR 650 c. OMR 550 d. OMR 500
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- Mr. X was an employee with the following information from his employment in 2020. Salaries and wages - $27,000 RRSP contribution in 2020 - $5,500 Membership dues paid by Mr. X - $500 Calculate Mr. X's the net employment income for 2020? Question 7 options: a) $21,500 b) $27,500 c) $21,000 d) $27,000K Andy Palermo is a commission salesperson with a base salary of $98,000. In 2023, he earns commissions of $16,900. Of this amount he rece travel. He incurs the following expenses: Meals and Entertainment with clients 22,700 11,900 Hotel and airline tickets What is the amount of Andy's maximum deduction for these expenses in determining his 2023 employment income? A. $9,400 B. $11,900 OC. $34,600 D. $16,900 E. $23,250 $b) Below is the details of payroll for Ms Amirah as at 31st March 2021. Employee's Category Conveyer Belt Operator RM 1,500 Basic rate Marriage status Single Allowance RM 543 Overtime RM 505 Monthly tax deduction 0 For year of assessment 2021 REQUIRED: Express calculation on following: i. ii. iii. Gross pay. Contribution (Employee Provident Fund and SOCSO) Net pay
- Following emoluments are received by Ms Sangeeta during the previous year ended on 31.3.2021 Basic salary 250000Dearness Allowance 10000Commission 2500Entertainment allowance 2000Medical expenses reimbursed 25000Professional taxes paid 2000(Rs1000 paid by employer) Ms. Sangeeta contributes Rs 2000 towards the Recognized Provident FundShe has no other income.Compute the income from salary for A.Y 2022-23, and give reasons and explanationswherever required, If Ms. Sangeeta is a Government employee. A) please first tell the formula and understanding of the question B) second what are the steps to be followed to get the answer C) please write the answer in c option and what can we clarify from thisFollowing emoluments are received by Ms Sangeeta during the previous year ended on31.3.2021 Basic salary 250000Dearness Allowance 10000Commission 2500Entertainment allowance 2000Medical expenses reimbursed 25000Professional taxes paid 2000(Rs1000 paid by employer) Ms. Sangeeta contributes Rs 2000 towards the Recognized Provident Fund. She has no other income.Compute the income from salary for A.Y 2022-23, and give reasons and explanations wherever required, If Ms. Sangeeta is a Government employee.On December 31, 2021, what amount should PO report for accrued salaries payable? *see attached a. P 100,000b. P 94,000c. P 82,000d. P 35,000
- QUESTION ONE Mr Stephen Ncube is a resident of Zambia. The following detail relate to his employment in the tax period ended 31 July 2020. Salary Bonus Cost of living allowance Refund from medical aid society Cell phone allowance Cash in lieu of leave Expenses Doctor's consultation fees Contribution to retirement annuity fund Contribution to medical aid Contribution to medical pension fund Additional information provided by the employer ZMW 240 000 52 000 16 000 6 000 8 000 000 4 18 000 30 000 36 000 39 000 Requirements Calculate Stephen Ncube's tax liability for the year ended 31 December 2020. 1. The employer provided him with a well-furnished company house in April, however, according to the Rentals Board, market related rentals for the house was 6 000 ZMW per month. According to the employer the upkeep of the house was 2 000 ZMW per month. Stephen paid 2 500ZMW per month to his employer. 2. In March the employer provided him with the free use of a car with an engine capacity 3 200…RRSP Marsha had the following income in 2020and 2021 Employment income Business income Interest Income Dividends Rental Income 2020 $140,000 20,000 20,000 2000 10,000 Calculate Marsha's maximum RRSP deduction for 2021 Earned Income Employment income Business income Rental Income Total Earned Income 18% of earned income Maximum RRSP deduction for 2021 Marsha's maximum RRSP contribution for 2021 before adjustments At the end of 2020, she had unused RRSP contribution room of $10,000. Her pension adjustment from 2020 was $5,000. She anticipates a pension adjustment of $7,000 in 2021. Required: 2021 160,000 $ 5,000 8,000 7,000 6,000 0Indicate whether each of the items listed below would be included (I) in or excluded (E) from gross income for the 2019 tax year. ______ a. Welfare payments ______ b. Commissions ______ c. Hobby income ______d. Scholarships for room and board ______ e. $ 300 set of golf clubs, an employee award for length of service ______ f. Severance pay ______ g. Ordinary dividend of $ 50 ______ h. Accident insurance proceeds received for personal bodily injury ______ i. Inheritances ______ j. Gifts ______ k. Tips and gratuities
- During 2019, Carl (a single taxpayer) has a salary of $91,500 and interest income of $11,000. Calculate the maximum contribution Carl is allowed for an educational savings account. $0 $400 $1,000 $2,000 Some other amountQUESTION ONE Mr Stephen Ncube is a resident of Zambia. The following detail relate to his employment in the tax period ended 31 July 2020. ZMW Salary 240 000 Bonus 52 000 Cost of living allowance 16 000 Refund from medical aid society 6 000 Cell phone allowance 8 000 Cash in lieu of leave 4 000 ExpensesDoctor's consultation fees 18 000 Contribution to retirement annuity fund 30 000 Contribution to medical aid 36 000 Contribution to medical pension fund 39 000 Additional information provided by the employer 1. The employer provided him with a well-furnished company house in April, however, according to the Rentals Board, market related rentals for the house was 6 000 ZMW per month. According to the employer the upkeep of the house was 2 000 ZMW per month. Stephen paid 2 500ZMW per month to his employer.2. In March the employer provided him with the free use of a car with an engine capacity 3 200 cc. However, the motor vehicle was used 80% for private use during the tax…Time left 0:43:40 Khairah works for Zoom Ltd and as provided you with the following information regarding her income and outgoings for the tax year 2020/21. Income a. A gross salary of £99,000 b. A bonus as follows: Date of Payment 15 March 2020 15 August 2020 30 May 2021 Date of Entitlement Amount £ 1 March 2020 15 lulv 2020 15 March 2021 19,200 25,200 13,700 C. Khairah was provided with accommodation by his employer on 1 June 2018. The employer bought the house in 2018 for £135,000 and the rateable (annual) value of the property was £2,500. Khairah pays rent of £150 per month to her employer. Expenditure a A total Amount of £120 paid to a UK charity under a payroll deduction scheme, administered by Zoom Ltd. b. Professional subscriptions of £180 to an approved professional body relevant to Khairah's employment. C. She also paid an annual membership fee of £1,360 to a Social Club which she used to entertain the clients of Zoom Ltd. Calculate Khairah's Taxable employment Income for…
