Garfield Enterprises employs 3 employees and run their payroll on 25^th of each month. Employees are paid via magnetic tape. The EMP201 return is submitted on the last day of each month together with a cheque for the amount owing. Garfield Enterprises pays a pension fund fringe benefit equal to the employees' own pension fund contribution. Garfield Enterprises pays the amounts owing, on behalf of the employees, to the Pension Fund and Medical Aid Fund on the last day of the month.

PAYE /SDL remuneration is gross salary less deductible retirement fund contributions. Maximum monthly threshold for UIF remuneration is R 14 872.

The following information was taken from the books of Garfield Enterprises for May 2019:

Required:

a) Complete the Salaries Journal for May 2019 by completing the missing amounts A - H. In yourr answer booklet write down yourr answer and applicable workings next to the corresponding letter.

b) Post the May Salaries Journal to the following accounts in the General Ledger of Garfield Enterprises for May 2019: (Balancing not required)

i) EMP201 Control (include payment to SARS and show your workings)

ii) Pension Fund Contribution

_____________________________________________________________________________________________________________________________________________________

 

 
 
 

Transcribed Image Text:

Name of Basic Travel Pension Pension PAYE/SDL UIF PAYE Medical Aid employees Salary Allowance Fund Fund Remuneration Remuneration Payable Contributions Fringe Deductions Benefit Odie Dog 15 000.00 3 600.00 1 500.00 4 800.00 1 800.00 John A 26 000.00 4 500.00 2 200.00 6 700.00 2 600.00 Liz W 35 000.00 5 800.00 A 2 800.00 B. 8 200.00 3 500.00 Name of Basic Travel Pension Pension PAYE/SDL UIF PAYE Medical Aid employees Salary Allowance Fund Fund Remuneration Remuneration Payable Contributions Fringe Deductions Benefit Odie Dog 15 000.00 3 600.00 1 500.00 4 800.00 1 800.00 John A 26 000.00 4 500.00 2 200.00 6 700.00 2 600.00 Liz W 35 000.00 5 800.00 A 2 800.00 B. 8 200.00 3 500.00

Answer rating: 100% (QA)

Note Missing Figures are marked in Green Color Cell Table 1 Books of Garfield Enterprises for May 20... View the full answer