
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Design a salary slip for the month of December 2021 with information given below.
Fixed vs variable ratio- 70:30
Ctc - 24L
Basic- 50%
Hra- 22%
Da - 12%
Travel allowance- 2000
Insurance - 9800
Employee has completed 75% of the target
Pf 12%
leaves - 4 ( 2 permitted)
Reimbursement - 2500
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by stepSolved in 2 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- A $34,000 new car loan is taken out with the terms 9% APR for 48 months. How much are monthly payments on this loan? OA. $846.09 OB. $930.70 OC. $1,015.31 OD. $1,099.92arrow_forwardPayment and frequency (PMT) # a $50.00 end of every quarter b $6,566.60 per month (end) c$ per end of quarter d 550.00 per quarter (end) e $2,000 at the beginning of every six months (semi- annually) f $2,400 at the end of every year g $900 at end of the month h|$ beginning of every month Term (Time) (n) 6 years 9 years 9 years and 3 months 12 years 36 payments 24 years Interest rate and compound frequency (I/Y) 5% compounded quarterly 7% compounded monthly 6.75 % compounded semi-annually 54% years compounded annually compounded monthly 4.89 % compounded monthly 12% years compounded monthly 8.9% compounded monthly Present Value (PV) Not Applicable $18,000 %$36,000 Future Value (FV) Not Applicable Not Applicable Not Applicable $80,000 Not Applicable Not Applicable $30,000.00 Not Applicable Not Applicable $1,000,000arrow_forwardA contract calls for a payment of P 1,200 at the beginning of each month for 12 months. At what rate compounded annually would this agreement be equivalent to a cash payment of P 13,590? Select one: O a. 13.63% O b. 10% O c. 12% O d. 12.45%arrow_forward
- Scheduled payments of $1010due five months ago and $1280due today are to be repaid by apayment of $615 in four monthsand the balance in sevenmonths. If money is worth 7.75%p. a. and the focal date is inseven months, what is theamount of the final payment?"Please show complete steps with Training formulaarrow_forwardNote: Round all answers to the nearest cent when necessary. Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for the following installment loan. Total Purchase Monthly Payment Down Amount Number of Finance Deferred (Cash) Price Payment Financed Payments Charge Payment Price $3,300 20% $ 2640 $240.00 12 $ 240 $ 5520arrow_forwardThe debtors collection period of JK Limited for 2023 is expected to be 36.5 days and the creditors payment period is estimated to be 73 days.The accounts receivable balance on 31 December 2023 is expected to be R108 000. How much are the budgeted credit sales?A. R1 080 000OB. R540 000OC. R7 884 000D. R3 942 000 Do not give answer in imagearrow_forward
- What is the 30-day forward premium/discount for GBP/CNY if the spot is 0.95 and the 1-month forward rate is 1.45. Please provide your answer in %.arrow_forward1. Complete the following table: Purchase priceof product Downpayment Amountfinanced Number of monthly payments Amount of monthly payments Total of monthly payments Total financecharge Chevy Volt $21,000 $11,000 $ 60 $210 $ $arrow_forwardThe payments required on a contractual obligation are $800 per month. The contract was purchased for $9,250 just before a regular payment date. The purchaser determined this price based on a required rate of return of 4.3% compounded monthly. How many payments will be required, include the partial final payment? 12 payments 24 payments 9 payments 6 payments 18 paymentsarrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education


Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,

Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON

Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education