Mr. Ponce is an employee of XYZ Trading. For the month of June, Ponce received the following from XYZ: Description Amount Basic salary Overtime and holiday pay Transportation and cellphone allowance Reimbursement of office supplies for XYZ Reimbursement of utilities payment for XYZ P25,000 2,500 4,000 2,000 4,000 How much of the above is the gross income of Mr. Ponce? а. Р37,500 b. Р33,500 с. Р31,500 d. P27,500

Mr. Ponce is an employee of XYZ Trading. For the month of June, Ponce received the following from XYZ: Description Amount Basic salary Overtime and holiday pay Transportation and cellphone allowance Reimbursement of office supplies for XYZ Reimbursement of utilities payment for XYZ P25,000 2,500 4,000 2,000 4,000 How much of the above is the gross income of Mr. Ponce? а. Р37,500 b. Р33,500 с. Р31,500 d. P27,500

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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