A managerial employee has the following benefits: 13th month pay and other benefits - P50,000; De

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A managerial employee has the
following benefits: 13th month pay
and other benefits - P50,000; De
minimis within their limits - P30,0003;
Excess de minimis benefits P6,000;
Other fringe benefits - P35,000;
Compute the grossed-up monetary
value of the fringe benefits.
O P63,076
P41,000
P53,846
P9,230
Transcribed Image Text:A managerial employee has the following benefits: 13th month pay and other benefits - P50,000; De minimis within their limits - P30,0003; Excess de minimis benefits P6,000; Other fringe benefits - P35,000; Compute the grossed-up monetary value of the fringe benefits. O P63,076 P41,000 P53,846 P9,230
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