Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi there, I am confused as to what this homework question is asking of me, can I please have some help? Please read instructions below

Hi there, I am confused as to what this homework question is asking of me, can I please have some help? Please read instructions below and find relevant materials in the question attached.

Below are the records for Tim's Tables.You are required to complete the worksheets below in order to calculate the (a) gross wages and (b) the net wages & superannuation for each employee.(Note that gross wages do not include compulsory employer superannuation contributions.)

Assume that the hours worked (in the table below) are for the first week of a new month.Do not assume that further OTE will be worked by these employees this month.

* Be aware that the PAYG withholding amounts we have used below are for simplification purposes and are not derived from the ATO's tax tables.

image text in transcribedimage text in transcribedimage text in transcribed
Employees Hourly rate Hours worked PAYG Employee Medical CA withholding Ordinary expenses/union Overtime tax * Superannuateon fees 1.5 2.0 $ contributions $ EA A Ables 36.50 35 4 392.00 115.00 25 B Bradman 16.50 25.00 82.50 29.50 25 C Charlesworth 25 35 4 3 282.00 15 D Dingley 30.00 35 5 341.50 15 E Ellington 27.00 35 2 253.50 82.00 20Gross wages Payroll records of Tim Tables Employees Hourly Hours worked Ordinary wages Overtime Gross wages rate Ordinary Overtime 1.5 2.0 1.5 2.0 $ EA $ EA A Ables 36.50 35 4 B Bradman 16.50 25 C 25.00 35 4 3 Charlesworth D Dingley 30.00 35 5 E Ellington 27.00 35 2 0Net wages and superannuation Please refer to chapter 4.2 in regards to \"Employer superannuation contribution\". Please note, the 9.5% rate should be used when calculating employer superannuation contributions. Payroll records of Tim Tables Employees Gross wages Deductions Net wages Employer's superannuation contributions contributions $ 35 B Bradman C Charlesworth D Dingley 1 678.00

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

Recommended Textbook for

Fundamental Accounting Principles

Authors: John Wild, Ken Shaw, Barbara Chiappetta

19th Edition

0077303202, 9780077303204

More Books

Students also viewed these Accounting questions

Question

Pay him, do not wait until I sign

Answered: 1 week ago

Question

Speak clearly and distinctly with moderate energy

Answered: 1 week ago