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ADDITIONAL PAYROLL PROBLEM TO BE DONE IN CLASS:Below are given salaries related to Salah & Siraj Company for month of April in year 2 0

ADDITIONAL PAYROLL PROBLEM TO BE DONE IN CLASS:Below are given salaries related to Salah & Siraj Company for month of April in year 2024.S&S Company has 2 employees: (1) a secretary who is married with 2 children at school and a working husband, and (2) an accountant who is also married with one child at school and a wife at home.Salary per month Transportation (working days)Secretary 80,000,000 L.L.16 daysAccountant 100,000,000 L.L.18 daysRequirementsa. Determine the monthly contributions to be paid to NSSF by each of these 2 employees.b. Determine the annual rebate (exempted annual salaries) related to each of these 2 employees.c. Determine the yearly tax on salaries to be paid by each of these 2 employees.d. Determine the monthly tax on salaries to be paid by each of these 2 employees.e. Determine the net to be collected by each employee.f. Record the related entries knowing that salaries payroll is prepared on 23 and payments are made on 29.NSSF (monthly)Medical: 11%(3% employee and 8% employer)End of service: 8.5%(employer)Family: 6%(employer)Note: ceiling is 45,000,000 LBP Allowances (monthly)Wife: 600,000 wifeKids: 330,000 kids Transportation450,000 LL / dayExemptions ( yearly)Personal : 450,000,000 LBPPartner: 225,000,000 LBPKid: 45,000,000 LBP / kid and up to 5 kids

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