Question
Abmet fokbilir is general manager of Merkez Salons, During 2016 Almet worked tor the company all year at a 20,000 TL. month/y salary. He also
Abmet fokbilir is general manager of Merkez Salons, During 2016 Almet worked tor the company all year at a 20,000 TL. month/y salary. He also earned bonus equal to 10% Of Dis salary: (It is addled te greas pay). Ahmet's income tax withheld for January was $1,000. Social Securiny Insurance prema (24%). stamp duty tax (0.759%/), and unempleyement Insurance premium tax (1%) was withheld on the earnings. Ahmet also authorized the following payroll deciuctions:Retirement Fund contribution of 3% of total earnings and life insurance of 450TL per monda. Merkez salons incurred payroll tax expense (Social security Insurance Premium (20.5%), Unemployment Insurance Premium (2%) on Ahmet. Requirements (use Turkish version) 1. Compute Ahmet's greas pay, payroll deductions, and net pay for January. 2. Make the journal entry to record Merkez Salons's expense for Ahmet's total earnings for January, his payroll deductions, and net pay. 3. Compute Merkez Salons"s January payroll tax expense for Ahmet. Make the journal entry to record the accrual Merkez Salons' payrull tax expense for Ahmet's January earnings.
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