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
Here are the solutions to the questions: 1.1.1: Write the acronym U.I.F in full. The acronym U.I.F stands for: Unemployment Insurance Fund 1.1.2: Calculate his housing allowance as a percentage of his gross salary. Step 1: Identify the housing allowance and gross salary from the payslip. Housing Allowance = R1 680,00 Gross Salary = R17 636,25 Step 2: Calculate the percentage. Percentage = ( Housing AllowanceGross Salary ) × 100\% Percentage = ( R1\,680,00R17\,636,25 ) × 100\% Percentage = 0,095251 × 100\% Percentage = 9,5251\% 9,53% (rounded to two decimal places) 1.1.3: Show how his U.I.F contribution of R159,56 was calculated. Step 1: Identify the UIF contribution amount from the payslip. UIF Contribution = R159,56 Step 2: Identify the Basic Salary from the payslip. Basic Salary = R15 956,25 Step 3: Calculate 1% of the Basic Salary. Calculated UIF = 1\% × Basic Salary Calculated UIF = 0,01 × R15\,956,25 Calculated UIF = R159,5625 This rounds to R159,56. Therefore, the UIF contribution of R159,56 was calculated as 1% of his Basic Salary. R15 956,25 × 0,01 = R159,56 That's 2 down. 3 left today — send the next one.