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Question Three. Assume that there an is employee with the following terms and conditions 1. Basic...

Question Three.
Assume that there an is employee with the following terms and conditions
1. Basic Pay K15,000
2. Housing Allowance 20% of the basic Pay
3. Overtime allowance K1,800
4. Transport Allowance 10%

Required:
a. Prepare a pay slip for this employee taking into account the necessary
statutory deductions.
(Note: for PAYE use the 2012 or 2013 rates) (2 Marks)
b. Show how the above will be recorded in the books of accounts for the
company. (2.5 Marks)

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