Learning Task 5-8.8Stem Options: Choose the best answer. (Use the table on page 28 for your ref-erence).1. How much is the tax due on a taxable income of P250,000?а. Оb. 1,250с. 50,000d. 30,0002. How much is the tax due on a taxable income of P890,000?а. 127,000b. 157,000с. 175,000d. 181,0003. Mrs. Cruz, married with one qualified dependent, earns compensation incomof P530,00 during a taxable year. How much is the tax due of Mrs. Cruz?а. 25,600 b. 26,500с. 56,200d. 62,5004. Ms. Rye earns a compensation income of P14,860,000 during 20x1. Howmuch is the tax due of Ms. Rye?d. 4,811,000 e. 5,611,000f. 3,914,000 g. 6,111,0005. The pay slip of Mr. Zoe shows the following information:Basic salary472,000SSS contribution6,976Philhealth contribution5,250Pag-IBIG contribution1,200How much is the tax due of Mr. Zoe?

Taxable income states the base upon which the system of income tax imposes or put the tax on citizen…

Answered: 1. How much is the tax due on a taxable…

Business

Accounting

1. How much is the tax due on a taxable income of P250,000? а. 0 b. 1,250 с. 50,000 d. 30,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.

Question

Learning Task 5-8.8
Stem Options: Choose the best answer. (Use the table on page 28 for your ref-
erence).
1. How much is the tax due on a taxable income of P250,000?
а. О
b. 1,250
с. 50,000
d. 30,000
2. How much is the tax due on a taxable income of P890,000?
а. 127,000
b. 157,000
с. 175,000
d. 181,000
3. Mrs. Cruz, married with one qualified dependent, earns compensation incom
of P530,00 during a taxable year. How much is the tax due of Mrs. Cruz?
а. 25,600 b. 26,500
с. 56,200
d. 62,500
4. Ms. Rye earns a compensation income of P14,860,000 during 20x1. How
much is the tax due of Ms. Rye?
d. 4,811,000 e. 5,611,000
f. 3,914,000 g. 6,111,000
5. The pay slip of Mr. Zoe shows the following information:
Basic salary
472,000
SSS contribution
6,976
Philhealth contribution
5,250
Pag-IBIG contribution
1,200
How much is the tax due of Mr. Zoe?

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2023 TAXABLE INCOME FIRST $53,359 OVER $53,359 TO $106,717 OVER $106,717 TO $165,430 OVER $ $165,430 TO $237,675 OVER $235,675 FILL IN THE BLANK TAX RATE 15.00% 20.50% 26.00% 29.32% 33.00% B) The new marginal rate of tax for someone making a salary of $100,000 and gets an $8,000 salary increase. type your text here Based on the Canadian Federal Income Tax Brackets for 2023 shown above, calculate and input the numeric answers to the questions below. Round off your answers to the nearest dollar. Do not use $, decimals or comma. For example, instead of $23,486.52, write 23487. For answers requiring a tax rate, enter only the numeric value with two decimal places, with "%" symbol. For example, 20.50%).
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The government of Lesotho charges 10% on income up to M75 000 plus 16% any amount over M70 000 up M300 000 and 26% of any amount over M300 000. Express the above as a tax function. Find the income tax for an income of M125 000. Compute the income tax of an income of M350 000.
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