Compute the taxable compensation income. a. 1,305,000b. 1,325,000c. 1,150,000d. 1,285,000 A Manager of MUUG Corporation received the following remunerations:Gross salaries, net of SSS, PHIC and HDMFsss maternity benefitsP1,140,000P20,000Profit sharing bonus13th month payP155,000P100,000Compute the taxable compensation income.

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Compute the taxable compensation income. a. 1,305,000 b. 1,325,000 c. 1,150,000 d. 1,285,000

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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Question

Compute the taxable compensation income.
a. 1,305,000
b. 1,325,000
c. 1,150,000
d. 1,285,000

A Manager of MUUG Corporation received the following remunerations:
Gross salaries, net of SSS, PHIC and HDMF
sss maternity benefits
P1,140,000
P20,000
Profit sharing bonus
13th month pay
P155,000
P100,000
Compute the taxable compensation income.

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