12 Charlie is paid a basic hourly rate of $12. If his weekly hours exceed 38 , he receives an overtime rate of 150% of the basic hourly rate. In addition, he recelves a productivity bonus of $25 if he produces more than 100 units weekly. If the employer deducts tax at 20%, what is Charlie's net pay for a week in which he works 42 hours and produces 106 units? ABCD$423.20$553.00$447.40$442.40 13 Which of the following are not details shown in the journal? A Journal reference B Ledger accounts to be removed C Description of the journal entry D Ledger account to be debited and credited 14 Which transactions require journal entries? (i) The transfer of an asset into a business by its owner (ii) Writing off an irrecoverable debt A D only B ii) only C Both i) and ii) D Neither i) nor ii) 15 Clive offers the following three discounts to his customers: 5% for bulk purchase 2% for regular customers 3% for early settiement of invoices All customers are expected to take advantage of the early settlement discounts. When Clive calculates sales to be recorded in his financial statements, which discounts should be deducted? ABCD1only1and2only3only1,2and3 16 Why must a business take extra care when accounting for payroll? (1) Employers effectively act as tax collectors and have statutory responsibilities in most countries (ii) The accuracy of wages is a matter of great sensitivity for employees A i) only B ii) only C Both i) and ii) D Neither i) nor ii) 17 A business's petty cash box contains payment vouchers totalling $457 and receipts vouchers of $84. If the business has an imprest amount of $750, how much cash should the cashier have found in the petty cash box? ABCD$1,291$750$377$84