which are broken down as follows (refer to the data below). The vice president for operation receives an annual salary of Php. 300,000 and fixed representation and travel allowance of Php. 50,000 per month in addition to the above mentioned household expenses. 5 housemaids Housemaid with a monthly salary of Php. 3,500 Personal driver of the wife with a monthly salary of Php. 6,000 House gardener and maintenance with a monthly salary of Php. 4,000 Driver of children attending school with a monthly salary of Php. 6,000 Garbage due at Php. 500 per month Homeowner's monthly dues of Php.800 1 driver 2 gardeners 1 driver COMPUTE FOR THE TOTAL ACTUAL MONETARY VALUE

which are broken down as follows (refer to the data below). The vice president for operation receives an annual salary of Php. 300,000 and fixed representation and travel allowance of Php. 50,000 per month in addition to the above mentioned household expenses. 5 housemaids Housemaid with a monthly salary of Php. 3,500 Personal driver of the wife with a monthly salary of Php. 6,000 House gardener and maintenance with a monthly salary of Php. 4,000 Driver of children attending school with a monthly salary of Php. 6,000 Garbage due at Php. 500 per month Homeowner's monthly dues of Php.800 1 driver 2 gardeners 1 driver COMPUTE FOR THE TOTAL ACTUAL MONETARY VALUE

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

In 2019, SBC Inc. paid the various household expenses of its vice president for operation,
which are broken down as follows (refer to the data below). The vice president for operation
receives an annual salary of Php. 300,000 and fixed representation and travel allowance of
Php. 50,000 per month in addition to the above mentioned household expenses.
5 housemaids
Housemaid with a monthly salary of Php.
3,500
Personal driver of the wife with a monthly
salary of Php. 6,000
1 driver
House gardener and maintenance with a
monthly salary of Php. 4,000
Driver of children attending school with a
monthly salary of Php. 6,000
Garbage due at Php. 500 per month
Homeowner's monthly dues of Php.800
2 gardeners
1 driver
COMPUTE FOR THE TOTAL ACTUAL MONETARY VALUE
COMPUTE FOR THE GUMV
COMPUTE FOR THE FBT
How much is the total credits to Cash?

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