Mark resigned in 2021 after 12 years of service. He had the following income during the year: Salary, net of P80,000 withholding tax, P20,000 SSS, P18,000 PhilHealth and P40,000 13th Month Pay Separation pay P480,000 1,000,000 Compute the gross income subject to progressive (regular) tax. O P1,480,000 P1,560,000 P560,000 P480,000

Mark resigned in 2021 after 12 years of service. He had the following income during the year: Salary, net of P80,000 withholding tax, P20,000 SSS, P18,000 PhilHealth and P40,000 13th Month Pay Separation pay P480,000 1,000,000 Compute the gross income subject to progressive (regular) tax. O P1,480,000 P1,560,000 P560,000 P480,000

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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