What is the total mandatory contribution in a year?Choices:P1,615P19,380P25,000P56,615 Mr. Alpha, is an employee of ABC Company. He is not engaged inbusiness nor has any other source of income other than his employment. For2020, Mr. Alpha earned a monthly compensation income of Php 25,000inclusive of his monthly contribution to SSS 1,125, PhilHealth 390, and HDMFamount to Php 100. He also received 13th month pay and bonuses amountingto Php50,000.00.

Answer: Any salaried person has its salary income taxable other than contribution to SSS account,…

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What is the total mandatory contribution in a year? Choices: P1,615 P19,380 P25,000 P56,615

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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Question

What is the total mandatory contribution in a year? Choices: P1,615 P19,380 P25,000 P56,615

Mr. Alpha, is an employee of ABC Company. He is not engaged in
business nor has any other source of income other than his employment. For
2020, Mr. Alpha earned a monthly compensation income of Php 25,000
inclusive of his monthly contribution to SSS 1,125, PhilHealth 390, and HDMF
amount to Php 100. He also received 13th month pay and bonuses amounting
to Php50,000.00.

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