Popoy is a messenger of Basha Logistics. He receives a monthly salary of P25,000. At the end of the year, Popoy received a cash gift of P6,000 in recognition of his services for 5yrs. In addition, he receives a monthly gas allowance of P1,00o. What is the income tax liability of Popoy for the year? O 10,000 O 12,400 O 13,600 None of the above

Popoy is a messenger of Basha Logistics. He receives a monthly salary of P25,000. At the end of the year, Popoy received a cash gift of P6,000 in recognition of his services for 5yrs. In addition, he receives a monthly gas allowance of P1,00o. What is the income tax liability of Popoy for the year? O 10,000 O 12,400 O 13,600 None of the above

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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