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? a. P37,500 b. P33,500 c. P31,500 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? a. P37,500 b. P33,500 c. P31,500 d. P27,500
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 14EA: Toren Inc. employs one person to run its solar management company. The employees gross income for...
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Question
![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
ОБ. Р33,500
О с. Р31,500
d. P27,500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F97fb7837-e9cc-4976-a2cd-a3ec0ec14d4a%2F5eabebf4-f1da-4c55-bbc7-f564dd46bdcb%2Fstr1cn_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
ОБ. Р33,500
О с. Р31,500
d. P27,500
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