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5 marksPayroll Accounting

CSEC Principles of Accounts · January 2010 · Paper 2 · Question 6(c)

Kevin Stuart earns a monthly gross salary of 16 000.00 with specific statutory and voluntary deductions (National Insurance 2%, Credit Union 1 000, Education Tax 1.5%, Pension plan $500, Income Tax 20% after all other deductions).

Calculate Kevin's monthly net pay, showing all workings.

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Other parts of this question

  1. 6(a)(i)Define the term 'Statutory deductions' and give ONE example.[2 marks]
  2. 6(a)(ii)Define the term 'Voluntary deductions' and give ONE example.[2 marks]
  3. 6(b)On the answer sheet provided, complete the hours breakdown and calculate Nalini's gross pay for the week.[11 marks]

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