Analyze and calculate your average monthly disposable and discretionary incomes.Suppose your salary is your only source of income. You receive Php 72 000.00gross monthly income. You pay personal income taxes of 32%. You are living withyour parents so you do not pay rent. However, you settle your family's utilitiessuch as average monthly electricity bill of Php 2 300.00, water bill of Php 550.00,and cable and Internet bill of Php 1 999.00. You spend an additional P5 000.00 fortransportation expenses and allot Php 10 000.00 per month for your savings.

Solution : Concept : Disposable income Money left from salary after the taxes are…

Answered: Analyze and calculate your average…

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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