Gross pay: The total amount such as salary, wages, commissions, overtime, and bonus paid by the employer to an employee in each pay period is called as gross pay. Net pay: It is the remaining amount of gross pay after all deductions. To compute : Compute Mr. S’s gross pay and net pay for the week.

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Answer 1

Question

Chapter 11, Problem 11.18E

1.

To determine

Gross pay: The total amount such as salary, wages, commissions, overtime, and bonus paid by the employer to an employee in each pay period is called as gross pay.

Net pay: It is the remaining amount of gross pay after all deductions.

To compute: Compute Mr. S’s gross pay and net pay for the week.

2.

To determine

To Journalize: The accrual of salaries and wages expense.

3.

To determine

To Journalize: The payment of wages.

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H. Smith is employed at a rate of $35 (USD) PER HOUR FOR A FORTY HOUR WORK WEEK:any hour over the forty smith is paid an additional $5usd. during the month of march 2016 smith worked the following schedule: Work week hours worked benefits Value of benefits March 1-4 40 cell phone 15000.00TT$ March 7-11 45 Housing 40,000 March 14-18 42 Motor car 45,000 March 28-31 41 Cash Allowance 100,000 Tax Credits: Personal allowance 75,000, NIC 9% OF BASIC PAY, PAYE rate vv25%. using an exchange rate of $1.50tt$ for us $1, compute the net pay of mr smith formonth ending march 31,2016 in TT currency.

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In calculating capital gain/loss, Jeremy deducted allowable costs from net proceeds. Which of the following is not considered as an allowable cost? A. Original acquisition cost B. Advertising cost C.Insurance cost D. Repair cost

Answer 2

Question

Chapter 11, Problem 11.18E

1.

To determine

Gross pay: The total amount such as salary, wages, commissions, overtime, and bonus paid by the employer to an employee in each pay period is called as gross pay.

Net pay: It is the remaining amount of gross pay after all deductions.

To compute: Compute Mr. S’s gross pay and net pay for the week.

2.

To determine

To Journalize: The accrual of salaries and wages expense.

3.

To determine

To Journalize: The payment of wages.

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Answer 3

Question

Chapter 11, Problem 11.18E

1.

To determine

Gross pay: The total amount such as salary, wages, commissions, overtime, and bonus paid by the employer to an employee in each pay period is called as gross pay.

Net pay: It is the remaining amount of gross pay after all deductions.

To compute: Compute Mr. S’s gross pay and net pay for the week.

2.

To determine

To Journalize: The accrual of salaries and wages expense.

3.

To determine

To Journalize: The payment of wages.

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Answer 4

Question

Chapter 11, Problem 11.18E

1.

To determine

Gross pay: The total amount such as salary, wages, commissions, overtime, and bonus paid by the employer to an employee in each pay period is called as gross pay.

Net pay: It is the remaining amount of gross pay after all deductions.

To compute: Compute Mr. S’s gross pay and net pay for the week.

2.

To determine

To Journalize: The accrual of salaries and wages expense.

3.

To determine

To Journalize: The payment of wages.

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Answer 5

Chapter 11, Problem 11.18E

1.

To determine

Gross pay: The total amount such as salary, wages, commissions, overtime, and bonus paid by the employer to an employee in each pay period is called as gross pay.

Net pay: It is the remaining amount of gross pay after all deductions.

To compute: Compute Mr. S’s gross pay and net pay for the week.

2.

To determine

To Journalize: The accrual of salaries and wages expense.

3.

To determine

To Journalize: The payment of wages.

Answer 6

Chapter 11, Problem 11.18E

1.

To determine

Gross pay: The total amount such as salary, wages, commissions, overtime, and bonus paid by the employer to an employee in each pay period is called as gross pay.

Net pay: It is the remaining amount of gross pay after all deductions.

To compute: Compute Mr. S’s gross pay and net pay for the week.

Answer 7

Chapter 11, Problem 11.18E

1.

To determine

Gross pay: The total amount such as salary, wages, commissions, overtime, and bonus paid by the employer to an employee in each pay period is called as gross pay.

Net pay: It is the remaining amount of gross pay after all deductions.

To compute: Compute Mr. S’s gross pay and net pay for the week.

Answer 8

2.

To determine

To Journalize: The accrual of salaries and wages expense.

Answer 9

2.

To determine

To Journalize: The accrual of salaries and wages expense.

Answer 10

3.

To determine

To Journalize: The payment of wages.

Answer 11

3.

To determine

To Journalize: The payment of wages.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 11 - Prob. 1QC Ch. 11 - On January 1, 2016, a business borrowed 18,000 on...Ch. 11 - A company sells 180,000 (selling price) of goods...Ch. 11 - Prob. 4QC Ch. 11 - Prob. 5QC Ch. 11 - Prob. 6QC Ch. 11 - Prob. 7QC Ch. 11 - Vega Company expects to pay a 4% bonus on net...Ch. 11 - Prob. 9QC Ch. 11 - Prob. 10QC

Gross pay: The total amount such as salary, wages, commissions, overtime, and bonus paid by the employer to an employee in each pay period is called as gross pay. Net pay: It is the remaining amount of gross pay after all deductions. To compute : Compute Mr. S’s gross pay and net pay for the week.

Solution Summary: The author calculates Mr. S's gross pay and net pay for the week.

To Journalize: The accrual of salaries and wages expense.

To Journalize: The payment of wages.

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Chapter 11 Solutions

Solution Summary: The author calculates Mr. S's gross pay and net pay for the week.

Gross pay: The total amount such as salary, wages, commissions, overtime, and bonus paid by the employer to an employee in each pay period is called as gross pay. Net pay: It is the remaining amount of gross pay after all deductions. To compute: Compute Mr. S’s gross pay and net pay for the week.

To Journalize: The accrual of salaries and wages expense.

To Journalize: The payment of wages.

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Chapter 11 Solutions