Chapter 8, Problem 32P

financial account

help me teacher this general accounting qoestion

Vanessa Kerr works at Jamrock Building Society in Jamaica. For 2014, she received a basic pay of $65 000 per month, her commissions were $10,000 monthly and she also received a bonus of 5% of her monthly pay. Vanessa contributed 10% of her basic pay to a pension scheme operated by the company. Jamrock pays $30,000 per month to Vanessa's landlord. She drives a car owned by Jamrock, which is 2 years old and was purchased at a cost of $1,200,000. It is estimated that she has up to 50% private usage of the vehicle. Each month, Vanessa receives lunch vouchers worth $6,000, which may be used in Jamrock's canteen or other nearby restaurants. Jamrock provides Vanessa with a cellular phone and agrees to pay a maximum bill of $45,000 per year. For the year, Vanessa's cellular phone bill was $50,000. Jamrock has an approved ESOP plan. For the year 2014, the employees agreed to purchase 6% of the share capital of 10 million shares of $1 each. There are 50 employees in the plan and each employee…