Tag: PAYE

Accounting Multiple Choice Question – 30 January 2024

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The following data has been extracted from the payroll records of Alex Trading Ltd for the month of December 2023.

  • PAYE – £17,000
  • Employer’s NIC – £7,500
  • Employees’ NIC – £6,000
  • Cash paid to employees – £50,000

The wage expense for the month is?

Select ONE answer:

  1. £50,000
  2. £56,000
  3. £74,500
  4. £80,500

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct – 50,000 + 17,000 + 7,500 + 6,000 = £80,500

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