Prepare letter to the bank explaining why

Assignment Help Accounting Basics

Reference no: EM133934150

Problem

You are the Financial Controller at SFSL Ltd.

A staff member is applying for a loan. The bank is concerned that her salary is not consistent according to her pay slips.

The following payments were made to her :

June 2025:
Salary: $122,675
Vacation: $52,575.00
Commission: $75,042.68
Non -tax Allowance : $40,000

July 2025:
Salary: $175,250
Commission: $55,019.18
Non -tax Allowance : $40,000

August 2025:
Salary: $157,725
Holiday: $17,525
Commission: $76,887.06
Non -tax Allowance : $40,000

The bank is seeking clarity from you as to why the salary figure is different in all months. The salary really has not changed but reasons are as follows:

June - staff took 2 weeks paid vacation leave and this is what is noted on June's payslip. Get the instant assignment help.
July - Full salary stated. No adjustments
August - There were 2 national holidays in this month. This is paid time off

Prepare letter to the bank explaining why.

Reference no: EM133934150

Questions Cloud

What amount of direct materials were used during the month : At the end of the month, it had $22,000 of direct materials remaiming. What amount of direct materials were used during the month?

How did great war and wwi affects europeans as far a fascism : How did the Great War or WWI affects Europeans as far a Fascism and Politics?

Differences between medieval and renaissance art : What were the most important differences between Medieval and Renaissance art? Give some contrasted examples.

Explain the emergence of the cold war : Describe and explain the emergence of the Cold War. What were the origins of the Cold War? How did societies mobilize during the Cold War?

Prepare letter to the bank explaining why : A staff member is applying for a loan. The bank is concerned that her salary is not consistent according to her pay. Prepare letter to the bank explaining why.

What is green plants divisions break-even in sales dollars : What is the Green Plants Division's break-even in sales dollars? What is the Flowering Plants Division's break-even in sales dollars?

Record the advance payments made by mens and womens bowling : Record the advance payments made by the men's and women's bowling leagues totaling $1,500 for the fall season that starts in September in an accounting journal.

How did this impact the economic strength of the two : Compare the differences between the technological advancements and industrial development in Eastern and Western Europe from 1963-1980.

Calculate the value to be transferred to the client in a cdt : Calculate the value to be transferred to the client in a CDT at a fixed rate of 10.80% E.A. established on 08/01/2023 and expired on 04/08/2024 for $150,000,000

User Account

All Pages