2. A married resident citizen has five (5) qualified dependent children. The followinginformation pertain to his income and expenses in the year 2019:Salary, net of P20,000 withholding taxRent expense, apartment houseHealth insurance premium paidP380,00036,0005,000How much is the taxable compensation income?

Given: Net salary = P 380,000 Withholding tax = P 20,000

Answered: A married resident citizen has five (5)…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Three invoices for the amounts of $35,300, $27,000, and $40,600 were received on August 5, 2014, September 4, 2014, and September 27, 2014, respectively. If the payment terms are 3/7, 2/30, n/60, calculate the amount that must be paid on October 4, 2014 to settle all three invoices. Round to the nearest cent
Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare): (Round your answers to the nearest cent.) Employee Cumulative earnings before this pay period Pay amount this period Social Security Medicare Logan $128,300 $3,000 Social Security _________ ? Medicare _____________ ?
Mr. Fix-It purchased a service truck for $32,400. It has an estimated useful life of 3 years and a trade-in value of $3,100. Using the sum-of-the-years’ digits method, prepare a depreciation schedule for the truck.
Scarlet Company received an invoice for $67,000.00 that had payment terms of 3/5 n/30. If it made a partial payment of $15,000.00 during the discount period, calculate the balance of the invoice. Round to the nearest cent
What is the yearly employer contribution to the U.S. Social Security tax on a salary of $40,000? Total Due: FICA Taxes Employer's Responsibility Employee's Responsibility Social Security Medicare 12.40% 2.90% 6.20% 6.20% $[ ? ] 1.45% 1.45%
Determine the annual insurance premiums for a policy insuring a male age 40 , who wants to purchase a whole life policy with a face value of $50,500
In order to make some home improvements, a home owner spent $24000. He paid 18% as a down payment and financed the balance of the purchase with a 36-month fixed installment loan with an APR of 4.5% Determine the home owner's total finance charge and monthly payment. a. Total finance charge = $3074.40; Monthly payment = $752.07 b. Total finance charge = $1156.06; Monthly payment = $579.03 c. Total finance charge = $3381.02; Monthly payment = $640.58 d. Total finance charge = $1395.12; Monthly payment = $585.42

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