Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

It's July 2021 and a business is paying its one employee $72,000 gross wages per annum wage, plus superannuation. The owner is not yet drawing

It's July 2021 and a business is paying its one employee $72,000 gross wages per annum wage, plus superannuation. The owner is not yet drawing any salary or super. The business expenses for the month of July show the amount of superannuation paid was $750. How much of this could be used as an addback by the business? Tip: You need to know the SG rate in July 2021

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

Accounting Tools for business decision making

Authors: kimmel, weygandt, kieso

4th Edition

978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461

More Books

Students also viewed these Accounting questions