(a) Mrs Kamau reported the following information relating to her income for the year ended...
60.1K
Verified Solution
Link Copied!
Question
Accounting
(a) Mrs Kamau reported the following information relating to her income for the year ended 31 December 2022. 1. She was employed by Kiambu county government as an accountant at a basic salary of Sh 90,000 (pay as you earn tax was deducted at Sh. 10,000 per month). She received the following benefits from her employer: - A furmished house (cost of furniture Sh200,000 ). The market rental value of the house was Sh.15, 000 per month. The employer deducted 5% of her basic salary per month to cover for rent - The following utility bills and wages were paid by the employer during the year. - She was reimbursed a sum of Sh70,000 for medical expenses incurred during the year. The medical scheme only covered senior employees. Qnawaanaa Thioa @ Eca University Her contribution to a registered pension scheme amounted to Sh.12, 000 per month. The employer contributes Sh.15, 000 for her to the pension scheme. - The employer paid Sh.10,000 for her during the year representing entrance fees and anrual subscription to a professional association and golf club respectively
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
