Instruction: Complete the following table. Gross Compensation Tax Income Таx Table Tax Due 1. P240,000 Non-taxable P250,000 but not over ? 2. P170,000 Non-taxable ? Non-tax due 3. P300,000 ? 20% over excess P10,000 P250,000 4. P265,000 P15,000 20% over excess P250,000 5. P398,000 20% over excess P29,600 P250,000 6. P114,000 Non-taxable ? Non-tax due 7. P235,000 ? 20% over excess Non-tax due P250,000 8. P340,000 ? 20% over excess P18,000 P250,000 9. P285,000 P35,000 ? P7,000 10. P395,000 P145,000 20% over excess ? P250,000
Instruction: Complete the following table. Gross Compensation Tax Income Таx Table Tax Due 1. P240,000 Non-taxable P250,000 but not over ? 2. P170,000 Non-taxable ? Non-tax due 3. P300,000 ? 20% over excess P10,000 P250,000 4. P265,000 P15,000 20% over excess P250,000 5. P398,000 20% over excess P29,600 P250,000 6. P114,000 Non-taxable ? Non-tax due 7. P235,000 ? 20% over excess Non-tax due P250,000 8. P340,000 ? 20% over excess P18,000 P250,000 9. P285,000 P35,000 ? P7,000 10. P395,000 P145,000 20% over excess ? P250,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Complete the table below.

Transcribed Image Text:Instruction: Complete the following table.
Gross Compensation
Tax Income
Tax Table
Tax Due
1. P240,000
Non-taxable
P250,000 but not over
2. P170,000
Non-taxable
?
Non-tax due
3. P300,000
20% over excess
P10,000
P250,000
4. P265,000
P15,000
20% over excess
P250,000
5. P398,000
?
20% over excess
P29,600
P250,000
6. P114,000
Non-taxable
?
Non-tax due
7. P235,000
?
20% over excess
Non-tax due
P250,000
8. P340,000
?
20% over excess
P18,000
P250,000
9. P285,000
P35,000
?
P7,000
10. P395,000
P145,000
20% over excess
P250,000
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