Nicanor retired at the end of 2022 after rendering 25 years of continuous services for ABC Corporation which employed him immediately after his graduation from college. Nicanor was then 23 years old when he graduated from college. The corporation for the past 25 years, does not have a Collective Bargaining Agreement with its employees and no labor organization was ever formed. He earned the following income in 2022: Salary for the first quarter P 180,000 Honorarium as speaker in one of ABC corporation’s team building activities 10,000 Retirement Pay 2,500,000 Commissions 30,000 Fee as a member of ABC Corporation board of directors 50,000 10 days monetized vacation leave 12,000 Interest income from time deposit in BDO-Lipa (net of final withholding tax) 24,000 Dividend income from XYZ Corporation (as an investor, net of final withholding tax) 45,000 Productivity incentive pay 20,000 13th Month pay 60,000 From the facts given, how much is the Gross Compensation Income of Nicanor? Group of answer choices b. 2,680,000 c. 270,000 a. 2,710,000 d. 2,770,000
46.
Nicanor retired at the end of 2022 after rendering 25 years of continuous services for ABC Corporation which employed him immediately after his graduation from college. Nicanor was then 23 years old when he graduated from college. The corporation for the past 25 years, does not have a Collective Bargaining Agreement with its employees and no labor organization was ever formed. He earned the following income in 2022:
|
Salary for the first quarter |
P 180,000 |
|
Honorarium as speaker in one of ABC corporation’s team building activities |
10,000 |
|
Retirement Pay |
2,500,000 |
|
Commissions |
30,000 |
|
Fee as a member of ABC Corporation board of directors |
50,000 |
|
10 days monetized vacation leave |
12,000 |
|
Interest income from time deposit in BDO-Lipa (net of final withholding tax) |
24,000 |
|
Dividend income from XYZ Corporation (as an investor, net of final withholding tax) |
45,000 |
|
Productivity incentive pay |
20,000 |
|
13th Month pay |
60,000 |
From the facts given, how much is the Gross Compensation Income of Nicanor?
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