Employer purchased a residential property on installment basis and had the same used by its managerial employee as residence. The total acquisition cost of the property is P3,500,000 including P500,000 interest. The property has a current fair value of P4M.Compute the quarterly monetary value of the fringe benefit. * O P18,750 O P37,500 O P50,000

Employer purchased a residential property on installment basis and had the same used by its managerial employee as residence. The total acquisition cost of the property is P3,500,000 including P500,000 interest. The property has a current fair value of P4M.Compute the quarterly monetary value of the fringe benefit. * O P18,750 O P37,500 O P50,000

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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