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FA1(fia) Payroll problem on Exam kit.

Forums › ACCA Forums › General ACCA Forums › FA1(fia) Payroll problem on Exam kit.

  • This topic has 0 replies, 1 voice, and was last updated 11 years ago by mahedi.
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  • June 4, 2014 at 7:34 pm #173944
    mahedi
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    • Topics: 21
    • Replies: 7
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    An employee earns $24,000 per annum. In May a salary increase was agreed to $26,000 pa, which was backdated to 1st April.In addition, a 2% bonus of basic monthly salary is payable if the company profits exceed a certain figure.The profit threshold was passed for May. Calculate the employee’s gross earnings for May.

    A. $2,244
    B.$ 2,444
    C.$2040
    D. $2,440

    My main problematic word is backdated.How does it work? Another word is threshold. What does it mean? Please explain elaborately.Thank you.

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