A private rank and file employee working in a remote tower station of Convulge Internet Company received the following benefits during 2021: 1
A private rank and file employee working in a remote tower station of Convulge Internet Company received the following benefits during 2021: 1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A private rank and file employee working in a remote tower station of Convulge Internet Company received the following benefits during 2021: 13th month pay - P72,000; Performance Bonus - P15,000; Christmas Gift - P30,000; Hazard Pay - P6,000; Housing privilege P38,000; Uniform and clothing allowance - P9,000; Laundry allowance - P6,000; The housing privilege pertains to the annual value of the employee's living quarters furnished by the employer to the employees. Compute the excess de minimis benefits which will be part of 13th month pay and other benefits.
P30,400
P12,400
P11,400
P29,400
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