This accounting problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
Step 1: Calculate Moosa's individual annual UIF contribution (employee's share). Moosa's annual income is R145 215,00. The UIF contribution is 1% of the gross remuneration. Employee's UIF Contribution = 1\% × Annual Income Employee's UIF Contribution = (1)/(100) × R145\,215,00 Employee's UIF Contribution = R1\,452,15 Step 2: Calculate the employer's annual UIF contribution. The employer also contributes 1% of the employee's gross remuneration to UIF. Employer's UIF Contribution = 1\% × Annual Income Employer's UIF Contribution = (1)/(100) × R145\,215,00 Employer's UIF Contribution = R1\,452,15 Step 3: Calculate the total annual UIF contribution. The total annual UIF contribution is the sum of the employee's and employer's contributions. Total Annual UIF Contribution = Employee's Contribution + Employer's Contribution Total Annual UIF Contribution = R1\,452,15 + R1\,452,15 Total Annual UIF Contribution = R2\,904,30 The total annual UIF contribution based on Moosa's income is R2\,904,30. That's 2 down. 3 left today — send the next one.