INTERMEDIATE ACCOUNTING (LL)(W/CONNECT)
10th Edition
ISBN: 9781264032266
Author: SPICELAND
Publisher: MCG
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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.
What is the average collection period in terms of days?
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