Finthe olanks Mr. Pluto had the following income during the year: Gross compensation income including P25,000 13th month pay P325,000 Less tardiness or absences 10.000 Net compensation income P315,000 SsS deductions 12,000 Philhealth deductions 9,000 Pag-ibig deductions 10,000 Union dues 5,000 Withholding tax 40.000 Net pay 239.000 Answer the following. Be sure to follow the correct format (see SAMPLE below) to get credit for your answers. Peso sign are not required. Centavos are not required. If your computation is with centavo, round your answer to nearest peso. CORRECT > 1000 INCORRECT ---> 1,000 INCORRECT --> 1,000.00 INCORRECT --> 1000.00 1). Total exclusion from gross income is 2). Taxable net income is 3). Income tax due is 4). Total inclusion to gross income is

Finthe olanks Mr. Pluto had the following income during the year: Gross compensation income including P25,000 13th month pay P325,000 Less tardiness or absences 10.000 Net compensation income P315,000 SsS deductions 12,000 Philhealth deductions 9,000 Pag-ibig deductions 10,000 Union dues 5,000 Withholding tax 40.000 Net pay 239.000 Answer the following. Be sure to follow the correct format (see SAMPLE below) to get credit for your answers. Peso sign are not required. Centavos are not required. If your computation is with centavo, round your answer to nearest peso. CORRECT > 1000 INCORRECT ---> 1,000 INCORRECT --> 1,000.00 INCORRECT --> 1000.00 1). Total exclusion from gross income is 2). Taxable net income is 3). Income tax due is 4). Total inclusion to gross income is

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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