terpretifyGiven below are the base salaries and commisions for 5 employees of your company. Identify which employee has received thehighest percentage of commision.4ParticularsSalaryCommisionEmployee 2Employee 5Employee 4Employee3Employee 1$70,000$10,000Employee 2$80,500$15,000Employee 3$90,000$25,000Employee 4$98,000$25,000Employee 5$112,700$30,000

Commission paid to employees is generally based on Sales. It is calculated on a percentage basis,…

Given below are the base salaries and commions for 5 employees of your company. Identity which employee has received the highest percentage of commision. Particulars Salary Commision Employee 2 Employee 5 Employee 4 Employee 3 Employee 1 $70,000 $10,000 Employee 2 $80,500 $15,000 Employee 3 $90,000 $25,000 Employee 4 $98,000 $25,000 Employee $112,700 $30,000

Given below are the base salaries and commions for 5 employees of your company. Identity which employee has received the highest percentage of commision. Particulars Salary Commision Employee 2 Employee 5 Employee 4 Employee 3 Employee 1 $70,000 $10,000 Employee 2 $80,500 $15,000 Employee 3 $90,000 $25,000 Employee 4 $98,000 $25,000 Employee $112,700 $30,000

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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Employee Details Employee Name: Miguel Cabrera Employee ID: 12345 Hire Date: 11 October 2021 Bank Account numben 12345678 Department Sales Tob Title: Sales Manager Payments Taxable Income Basic Salary Commission Over time pay Gross Taxable Income Deductions SSS Contribution Pag-ibig Contribution PL125 100 770 P1,995 PhilHealth deduction SSS Deduction P44,000 37,500 10,000 P91,500 PhalHealth Contribution Total Pag-ibig deduction Non-Taxable Income BIR Withholding Tax Computation Gross Taxable Income Less: Total Deductions Taxable Income Tax Due P91,500 1,995 P89,505 17,684.73 Rice Allowance Laundry Allowance Clothing Allowance Transportation Allowance Total Non-Taxable Income 2,000 250 50 2.000 P4,750 Net pay Tаx due NET PAY Taxable Income Miguel Cabrera's Particulars of Salary Non-Taxable Income Less: Tax Due P09,50S 4,750 17,684.73 SSS Deduction Pag-ibig deduction PhiHealth deduction Tax due Net pay Net pay P76,570.27
Employee Details Employee Name: Miguel Cabrera Employee ID: 12345 Hire Date: 11 October 2021 Bank Account numben 12345678 Department Sales Tob Title: Sales Manager Payments Taxable Income Basic Salary Commission Over time pay Gross Taxable Income Deductions SSS Contribution Pag-ibig Contribution PL125 100 770 P1,995 PhilHealth deduction SSS Deduction P44,000 37,500 10,000 P91,500 PhalHealth Contribution Total Pag-ibig deduction Non-Taxable Income BIR Withholding Tax Computation Gross Taxable Income Less: Total Deductions Taxable Income Tax Due P91,500 1,995 P89,505 17,684.73 Rice Allowance Laundry Allowance Clothing Allowance Transportation Allowance Total Non-Taxable Income 2,000 250 50 2.000 P4,750 Net pay Tаx due NET PAY Taxable Income Miguel Cabrera's Particulars of Salary Non-Taxable Income Less: Tax Due P09,50S 4,750 17,684.73 SSS Deduction Pag-ibig deduction PhiHealth deduction Tax due Net pay Net pay P76,570.27