Tag: Wages Payable

Accounting Multiple Choice Question – 6 February 2024

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Photo by Olya Kobruseva on Pexels.com

A business has the following payroll costs for a month:

  • Gross pay – £38,600
  • Income tax – £5,400
  • Employee’s national insurance – £3,100
  • Employer’s national insurance – £3,500

What is the wages cost to the business for the month?

Select ONE answer:

  1. £38,600
  2. £42,100
  3. £47,100
  4. £50,600

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 2

  1. Not correct
  2. Correct – 38,600 + 3,500 = £42,100
  3. Not correct
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Accounting Multiple Choice Question – 30 January 2024

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Photo by Nataliya Vaitkevich on Pexels.com

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

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Accounting Multiple Choice Question – 26 January 2024

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

apple devices books business coffee
Photo by Serpstat on Pexels.com

Alex Trading paid out £12,450 in net wages to his employees.

In respect of these wages, the following amounts were shown in the statement of financial position.

  • PAYE payable – £2,480
  • National Insurance payable – employees’ £1,350
  • National Insurance payable – employer’s £1,500

No other deductions were made.

Employees’ gross wages, before deductions, were?

Select ONE answer:

  1. £12,450
  2. £27,450
  3. £16,280
  4. £17,780

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 3

  1. Not correct
  2. Not correct
  3. Correct – 12,450 + 2,480 + 1,350 = £16,280
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.