Quelpr
5 marksPayroll Accounting

CSEC Principles of Accounts · January 2018 · Paper 2 · Question 2(a)(i)

Factory workers at Sharp-Brake Ltd are paid $40 an hour, Monday to Friday, and time and a half on weekend days. Deductions include: National insurance: 5% of gross pay; Contribution to pension fund: 3% of gross pay; Income tax: 25% of pay after deducting national insurance and pension fund contributions.

Complete the table showing Hours Worked (Monday–Friday), Total Pay (Monday–Friday), Hours Worked (Saturday and Sunday), Total Pay (Saturday and Sunday), and Gross Pay for U. Marsh, I. Stop, D. Park, and H. Drive.

This question uses a figure or table from the paper — you'll see it when you practise.

The mark scheme is shown once you've answered.

Practise this question

Other parts of this question

  1. 2(a)(ii)Prepare the payroll for the four employees, calculating Gross Pay, NI Deductions (5%), Pension Deduction (3%), Taxable Income, Income Tax (25%), and Net Pay.[6 marks]
  2. 2(b)(i)State ONE example of a statutory deduction.[1 mark]
  3. 2(b)(ii)Define the term bonus.[2 marks]
  4. 2(c)Draw up the Appropriation Account for the partnership of Parris and London for the year ended 31 December 2017.[6 marks]

More practice: the rest of this paper · more Payroll Accounting questions · all CSEC Principles of Accounts past papers