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Mr. John Bosco is married with 3 children, one of whom attends My Soul is Good Nursery School. He contributes to the social security fund. He also contributes 5% of his gross salary towards the company's provident fund. Complete the Net tax payable in the year 2023.

Mr. John Bosco is married with 3 children, one of whom attends My Soul is Good Nursery School. He contributes to the social security fund. He also contributes 5% of his gross salary towards the company's provident fund. Complete the Net tax payable in the year 2023.

FINANCIAL ACCOUNTING
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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g. The following information relates to Mr. John Bosco who was formerly resident in Texas but has now permanently settled in Ghana. Income received in Ghana (2023) Gross salary Director's Fees (Net) Dividend (Gross) Income from Texas (2023) No. 1 2 3 4 5 6 7 Gross Investments 100,000 24,000 Nil Dividend (net) 14,000 1,400 12,600 Mr. John Bosco is married with 3 children, one of whom attends My Soul is Good Nursery School. He contributes to the social security fund. He also contributes 5% of his gross salary towards the company's provident fund. Complete the Net tax payable in the year 2023. First Next Next Next Next Next Exceeding €'000 200,000 50,500 48,000 Tax Paid Use the following Tax schedule CHARGEABLE INCOME 4.824.00 1,320.00 1,560.00 36,000.00 196,740.00 359,556.00 600,000.00 Amount Remitted TAX RATE Free 5% 10% 17.5% 25% 30% 35%
Transcribed Image Text:g. The following information relates to Mr. John Bosco who was formerly resident in Texas but has now permanently settled in Ghana. Income received in Ghana (2023) Gross salary Director's Fees (Net) Dividend (Gross) Income from Texas (2023) No. 1 2 3 4 5 6 7 Gross Investments 100,000 24,000 Nil Dividend (net) 14,000 1,400 12,600 Mr. John Bosco is married with 3 children, one of whom attends My Soul is Good Nursery School. He contributes to the social security fund. He also contributes 5% of his gross salary towards the company's provident fund. Complete the Net tax payable in the year 2023. First Next Next Next Next Next Exceeding €'000 200,000 50,500 48,000 Tax Paid Use the following Tax schedule CHARGEABLE INCOME 4.824.00 1,320.00 1,560.00 36,000.00 196,740.00 359,556.00 600,000.00 Amount Remitted TAX RATE Free 5% 10% 17.5% 25% 30% 35%
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