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ployer's share and employee share. 10% for SSS, 3% for Philhealth, 1% for Pag-ibig contribution. Total Wi mounted to Php12,000. Compute the amount: deducted from employees salaries employer's contribution remittance of these contribution to the respective agencies. net payroll

ployer's share and employee share. 10% for SSS, 3% for Philhealth, 1% for Pag-ibig contribution. Total Wi mounted to Php12,000. Compute the amount: deducted from employees salaries employer's contribution remittance of these contribution to the respective agencies. net payroll

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Toto Company has a gross factory payroll of Php100,000, which is the basis in the computation of all contributions both employer's share and employee share. 10% for SSS, 3% for Philhealth, 1% for Pag-ibig contribution. Total Withholding Taxes amounted to Php12,000. Compute the amount: a. deducted from employees salaries b. employer's contribution c. remittance of these contribution to the respective agencies. d. net payroll
Transcribed Image Text:Toto Company has a gross factory payroll of Php100,000, which is the basis in the computation of all contributions both employer's share and employee share. 10% for SSS, 3% for Philhealth, 1% for Pag-ibig contribution. Total Withholding Taxes amounted to Php12,000. Compute the amount: a. deducted from employees salaries b. employer's contribution c. remittance of these contribution to the respective agencies. d. net payroll
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