Jess Dimaunahan is a full-time and regular employee of ABC Corporation. The following items were reflected in his records for the taxable year: 000 00 Salary (30,000/month for 12 mos.) Overtime Pay Yearly Laundry Allowance Rice allowance (4,000 x 12 mos.) Clothing allowance Productivity Bonus Christmas Bonus 13th Month Pay Mandatory Contributions: SSS Contribution (900 x 12 mos.) Philhealth Contribution (500 x 12 mos.) Pag-Ibig Contribution (100 x 12) 360,000 12,000 ds9,000 48,000 8,000 45,000 35,000 30,000 10,800 6,000 1,200 Solve for the following: 1. Taxable Income 2. Tax Due for the year nl

Jess Dimaunahan is a full-time and regular employee of ABC Corporation. The following items were reflected in his records for the taxable year: 000 00 Salary (30,000/month for 12 mos.) Overtime Pay Yearly Laundry Allowance Rice allowance (4,000 x 12 mos.) Clothing allowance Productivity Bonus Christmas Bonus 13th Month Pay Mandatory Contributions: SSS Contribution (900 x 12 mos.) Philhealth Contribution (500 x 12 mos.) Pag-Ibig Contribution (100 x 12) 360,000 12,000 ds9,000 48,000 8,000 45,000 35,000 30,000 10,800 6,000 1,200 Solve for the following: 1. Taxable Income 2. Tax Due for the year nl

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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