ACCOUNTING

QUESTION 1

Garfield Enterprises employs 3 employees and run their payroll on 25th of each month. Employees are paid via magnetic tape.

The EMP201 return is submitted on the last day of each month together with a cheque for the amount owing.

Garfield Enterprises pays a pension fund fringe benefit equal to the employees' own pension fund contribution.

Garfield Enterprises pays the amounts owing, on behalf of the employees, to the Pension Fund and Medical Aid Fund on the last day

of the month.

PAYE/ SDL remuneration is gross salary less deductible retirement fund contributions.

Maximum monthly threshold for UIF remuneration is R 14 872.

The following information was taken from the books of Garfield Enterprises for May 2019: