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Mr. Santos received the following compensation and benefits for a year, working as an IT officer. Annual Basic Salary 13th Month Pay and Bonuses Uniform Allowance Laundry Allowance Rice Subsidy Php 300,000 75,000 5,000 4,000 27,600 Determine how much of Mr. Santos' total compensation is taxable and how much of it is non-taxable.

Mr. Santos received the following compensation and benefits for a year, working as an IT officer. Annual Basic Salary 13th Month Pay and Bonuses Uniform Allowance Laundry Allowance Rice Subsidy Php 300,000 75,000 5,000 4,000 27,600 Determine how much of Mr. Santos' total compensation is taxable and how much of it is non-taxable.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Mr. Santos received the following compensation and benefits for a year, working as an IT officer. Annual Basic Salary 13th Month Pay and Bonuses Php 300,000 75,000 Uniform Allowance Laundry Allowance Rice Subsidy 5,000 4,000 27,600 Determine how much of Mr. Santos' total compensation is taxable and how much of it is non-taxable.
Transcribed Image Text:Mr. Santos received the following compensation and benefits for a year, working as an IT officer. Annual Basic Salary 13th Month Pay and Bonuses Php 300,000 75,000 Uniform Allowance Laundry Allowance Rice Subsidy 5,000 4,000 27,600 Determine how much of Mr. Santos' total compensation is taxable and how much of it is non-taxable.
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