The amount to be refunded to Mr. Gerry is:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 32
Mr. Gerry, hired as employee on July 1, 2019 received the following compensation for the year:
Monthly Basic Salary P 20,000
13th Month pay 20,000
Other benefits 7,000
Salary from previous employer
(Jan- May 2019) 180,000
Withholding tax from previous 4,167
employer
Withholding tax (July-Nov 2019) 6,000
The amount to be refunded to Mr. Gerry is:
c. 0
a. 10,167
b. 4,167
d. 167
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