1. A supervisory employee has the following benefits: 13 month pay and other benefits De minimis within their limits Excess de minimis benefits Other fringe benefits P 40,000 35,000 10,000 40,000 Compute the amount fringe benefits subject to the fringe benefit tax rate. a. b. P 85,000 c. P 76,923 d. P 50,000 e. P 73,259
1. A supervisory employee has the following benefits: 13 month pay and other benefits De minimis within their limits Excess de minimis benefits Other fringe benefits P 40,000 35,000 10,000 40,000 Compute the amount fringe benefits subject to the fringe benefit tax rate. a. b. P 85,000 c. P 76,923 d. P 50,000 e. P 73,259
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![1. A supervisory employee has the following benefits:
P 40,000
35,000
10,000
40,000
13 month pay and other benefits
De minimis within their limits
Excess de minimis benefits
Other fringe benefits
Compute the amount fringe benefits subject to the fringe benefit
tax rate.
a.
b. P 85,000
c. P 76,923
d. P 50,000
e. P 73,259](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F026aa38f-c9a0-4aac-ab9a-782e02ac73f7%2Fb991b944-a6c0-4b4b-a7bd-1502d810b255%2Fwm0bcx_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1. A supervisory employee has the following benefits:
P 40,000
35,000
10,000
40,000
13 month pay and other benefits
De minimis within their limits
Excess de minimis benefits
Other fringe benefits
Compute the amount fringe benefits subject to the fringe benefit
tax rate.
a.
b. P 85,000
c. P 76,923
d. P 50,000
e. P 73,259
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