Nicanor, an employee of ABC Corp., suffered an accident at work and died. The following are information were made available by the employer: Basic salary                                                                 Php        600,000.00 13th month pay and other benefits                                                                                      100,000.00 Commission                                                                               100,000.00 Separation Pay                                                                             500,000.00 Gross compensation income                                                                            Php      1,300,000.00   Question: How much is the total exclusions from gross income?   a. Php 590,000 b. Php 90,000 c. Php 180,000 d. Php 600,000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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 Nicanor, an employee of ABC Corp., suffered an accident at work and died. The following are information were made available by the employer:

Basic salary                                                                 Php        600,000.00

13th month pay and other benefits                                                                                      100,000.00

Commission                                                                               100,000.00

Separation Pay                                                                             500,000.00

Gross compensation income                                                                            Php      1,300,000.00

 

Question: How much is the total exclusions from gross income?  

a. Php 590,000

b. Php 90,000

c. Php 180,000

d. Php 600,000

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