In: Accounting
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Henry makes an annual gross salary of $70,000, what is his net salary?
Providing solution for 2 questions, for the rest of the question raise another request please.
Regular | Overtime | ||
Equation formation | xh | 2xh | |
Hours worked | 40 | 20 | 60 |
Equation | 40x | 20(2x) | 80x=40x+40x |
Computation of base salary of nurse Jane | |||
Total weekly salary | $ 2,136.00 | ||
base salary (x) | $ 26.70 |
Annual sales of Daniel | 187,400 |
Commission (30%) | 56,220 |
Annual base salary | 480,000 |
Pension deduction (5%) | (24,000) |
Employement insurance (2.4%) | (11,520.0) |
Total compensation | 500,700 |
Computation of income tax | |
no tax - 11000 | - |
11001 to 25000 - 8% | 1,120 |
25001 to 50000 - 12% | 3,000 |
50001 to 100000 - 15% | 7,500 |
0ver 100001 - 20% | 80,140 |
Total tax | 91,760 |