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1 markPayroll Accounting

CSEC Principles of Accounts · January 2012 · Paper 2 · Question 7(a)(ii)

A scenario describing the earnings, deductions, and benefits of Jerome Perkins.

Identify the specific term used to describe additional earnings paid out of company's profits.

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Other parts of this question

  1. 7(a)(i)Identify the specific term used to describe Jerome Perkins' monthly pay.[1 mark]
  2. 7(a)(iii)Identify the specific term used to describe the contribution to the credit union requested by the employee.[1 mark]
  3. 7(a)(iv)Identify the specific term used to describe the contribution to National Insurance required by the government.[1 mark]
  4. 7(a)(v)Identify the specific term used to describe regular amounts paid to employees when they have retired.[1 mark]
  5. 7(b)On the pay slip provided, calculate David Ayliffe's gross earnings, total deductions, taxable earnings, income tax, and net earnings for the week, showing your…[15 marks]

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