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The following information is used to calculate Clare Industries payroll for the week ending 26 June 2020. Employee Gross Pay A. Smithers $920 J. Bird
The following information is used to calculate Clare Industries payroll for the week ending 26 June 2020. Employee Gross Pay A. Smithers $920 J. Bird $890 R. Cummins |$950 Employees' superannuation contribution is 9% of their gross pay PAYG tax is taken out at 30% after subtracting superannuation contributions. All employees also have the following deductions from their after-tax pay: 2.5% life insurance and 10% medical insurance. a. Calculate the 'take-home pay for each employee.(Round your answer to 2 decimal places.) b. Prepare the general journal entry to accrue the payroll and associated deductions
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