Pure Compe
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Pure Compensation Income
Mr. Bienvenido is a minimum wage earner employed
by Bilal, Inc. He has no other source of income aside
from his employment. In 2018, he earned a total
compensation income of P125,000.
A. Mr. Bienvenido's contribution to SSS, Philhealth and
HDMF amounted to P7,000. He received his 13th
month pay amounting to P10,000. What is Mr.
Bienvenido's income tax liability for the year?
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