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
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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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