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Hello everyone. Can someone please help me with a question from Practice Cbt 1 Fa 2009
Joanne provides you with the following information:
Her annual salary for the twelve months to 30 June 2010 was £17,400
Her annual salary for the twelve months to 30 June 2011 was £19,440
She received a bonus of £876 on 14 April 2010 based on the company's accounting profits for the year ended 31 March 2010.
She received a bonus of £960 on 17 April 2011 based on the company's accounting profits for the year ended 31 March 2011.
She receives a 5% commission per year on her salary.
What is the salary taxable for 2010/11
What is the bonus taxable for 2010/11
What is the commission for 2010/11
Thank you
Joanne provides you with the following information:
Her annual salary for the twelve months to 30 June 2010 was £17,400
Her annual salary for the twelve months to 30 June 2011 was £19,440
She received a bonus of £876 on 14 April 2010 based on the company's accounting profits for the year ended 31 March 2010.
She received a bonus of £960 on 17 April 2011 based on the company's accounting profits for the year ended 31 March 2011.
She receives a 5% commission per year on her salary.
What is the salary taxable for 2010/11
What is the bonus taxable for 2010/11
What is the commission for 2010/11
Thank you
0
Comments
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Its been a while since I've done this but this is how I would answer it
April 2010 - March 2011
So that is 3 months from the first year. 17400/12*3 = 4350
9 months from the following year. 19440/12*9 = 14580
Salary for the year = 18930
Bonus is taxed on the year it was recieved, so it would be 876
Commision, I guess would be 5% of 18930. 946.50.0 -
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Thank you Daz1865!0
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