Yoona, married with 3 qualified dependent children, a regular employee of SM Town Company, receives on July 06, 2022, PHP 30,000 as a regular monthly salary and half of her 13th month pay amounting to PHP 15,000 plus other benefits such as rice allowance or July of PHP 2,500, productivity incentive pay of PHP 30,000, hazard pay of PHP 1,000 overtime pay of PHP 4,000 and night shift differential of PHP 2,000. The income subject to withholding tax in July is: 57,000 37,000 30,000 34,000

Yoona, married with 3 qualified dependent children, a regular employee of SM Town Company, receives on July 06, 2022, PHP 30,000 as a regular monthly salary and half of her 13th month pay amounting to PHP 15,000 plus other benefits such as rice allowance or July of PHP 2,500, productivity incentive pay of PHP 30,000, hazard pay of PHP 1,000 overtime pay of PHP 4,000 and night shift differential of PHP 2,000. The income subject to withholding tax in July is: 57,000 37,000 30,000 34,000

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

Yoona, married with 3 qualified dependent children, a regular employee of SM Town
Company, receives on July 06, 2022, PHP 30,000 as a regular monthly salary and half of
her 13th month pay amounting to PHP 15,000 plus other benefits such as rice allowance
or July of PHP 2,500, productivity incentive pay of PHP 30,000, hazard pay of PHP 1,000
overtime pay of PHP 4,000 and night shift differential of PHP 2,000.
The income subject to withholding tax in July is:
57,000
37,000
30,000
34,000

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