Zenny is one of the 20-year awardees of her company. For her service, she received a watch worth P8,000, a plaque, and a check for P10,000. On the same day, she also received a bonus for her excellent performance for the entire duration of her service in the amount of

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Zenny is one of the 20-year
awardees of her company. For her
service, she received a watch worth
P8,000, a plaque, and a check for
P10,000. On the same day, she also
received a bonus for her excellent
performance for the entire duration
of her service in the amount of
P35,000. How much should be
included in the "13th month pay and
other benefits" of Zenny? *
P55,000
O P45,000
P35,000
O Pzero
Transcribed Image Text:Zenny is one of the 20-year awardees of her company. For her service, she received a watch worth P8,000, a plaque, and a check for P10,000. On the same day, she also received a bonus for her excellent performance for the entire duration of her service in the amount of P35,000. How much should be included in the "13th month pay and other benefits" of Zenny? * P55,000 O P45,000 P35,000 O Pzero
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Computation of Taxable Income
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education