At the end of 2016 Mustafa left the ABC Company, which is an Egyptian company, after spending many years with it. At the end of 2016 Mustafa calculates all the amounts that he received during the year Commissions and salaries Share in distribution of net profit of the company Severance pay Performance bonuses Total Compensation Required: 120,000 65,000 50,000 12,000 247,000 In 2016, how much tax should ABC retain from this compensation before giving it to Mustafa? In other terms, What is the net salary that Mustafa should get?

At the end of 2016 Mustafa left the ABC Company, which is an Egyptian company, after spending many years with it. At the end of 2016 Mustafa calculates all the amounts that he received during the year Commissions and salaries Share in distribution of net profit of the company Severance pay Performance bonuses Total Compensation Required: 120,000 65,000 50,000 12,000 247,000 In 2016, how much tax should ABC retain from this compensation before giving it to Mustafa? In other terms, What is the net salary that Mustafa should get?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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