Margaret recelved the fotal compensatlon df P/50,000 WITH detalls as folloWs! Basic salary including SSS contributions of P30,000 – these contributions are exempted from taxation Additional compensation- supplemental 13th month pay and other benefits of which P90,000 is exempted from taxation Total compensation P500,000 100,000 150,000 P750,000 Compute the taxable compensation of Margaret based only on the foregoing

Margaret recelved the fotal compensatlon df P/50,000 WITH detalls as folloWs! Basic salary including SSS contributions of P30,000 – these contributions are exempted from taxation Additional compensation- supplemental 13th month pay and other benefits of which P90,000 is exempted from taxation Total compensation P500,000 100,000 150,000 P750,000 Compute the taxable compensation of Margaret based only on the foregoing

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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