Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Eng. Ahmed Husain, a resident employee who works as an interior designer in a private sector company, received the following monthly amounts during year 2020:

Eng. Ahmed Husain, a resident employee who works as an interior designer in a private sector company, received the following monthly amounts during year 2020: " B Monthly taxable basic salary L.E 7,800. Monthly taxable variable salary L.E 10,200. Other data: B B B Starting from Jan. 1st,2020, The company deducted from his salary monthly social insurance contributions of basic and variable salary of L.E 400. Starting from June 1st, 2020; this amount became L.E 450. On April 1st, he bought a car for his wife amounting to L.E 200,000, paid half of the price cash and the rest is to be paid in 50 monthly installments each of L.E 2,000 will be deducted from his monthly salary starting from the first of June. Starting from June 1st; the company deducted from his salary L.E 600 monthly Gold's Gym Subscription. The temporarily net monthly income for this employee in October is L.E

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions