Accounting Quiz or Test Your Accounting Knowledge on Wages & Salaries

July 25th, 2010 Comments off
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Refresh or test your accounting knowledge on Wages & Salaries Accounting:

QUESTIONS:

1.0  What do the initials PAYE stand for? 2.0  List three voluntary deductions that an employee might permit from his gross pay

3.0  What is the total cost of employing staff shown in an employer’s income statement?

4.0  Briefly summarize the principles of calculating PAYE income tax

5.0  What ledger accounting entries are necessary once the total payroll costs have been calculated?

6.0  What ledger accounting entries are made in respect of voluntary deductions permitted by employees?

 

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Financial Accounting

 
 

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