What is the monthly net take home pay? * A. P25,000 B. P24,486.67 C. P23,385 D. P22,871.67
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Q: Page 4 of 4 12. Mr. Bean receives a monthly basic salary of P38,000. He also receives P2,000 monthly…
A: Total Compensation = 38000 +2000 +2000 +500 = php 42,500
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- JEN is the VP for Operations of Rich Company, with an annual salary of Php. 720,000.00. At the end of the year, he received a cash gift of Php. 90,000 in addition to his 13th month pay equivalent to his one-month salary. COMPUTE FOR THE GROSS COMPENSATION INCOME OF JEN. COMPUTE FOR THE TAXABLE COMPENSATION INCOME OF JENMr. Santos received the following compensation and benefits for a year, working as an It officer. Annual basic Salary 13th month pay and bonuses Php300,000 75,000 Uniform allowance 5,000 4,000 Laundry allowance Rice subsidy 27,600 Determine how much of Mr.Santos' total compensation is taxable and how much of it is non-taxable.In 2018, Nelia Gomez, an MWE, received from her employer an annual minimum wage salary of ₱99,702. Aside from this, she also received ₱8,000 for holiday pay, overtime pay, and night shift differential pay. Furthermore, she received ₱8,303 as her 13th month pay. What amounts shall she be taxable on? a. ₱8,000. b. ₱107,702. c. ₱8,303. d. None.
- Mr. Santos received the following compensation and benefits for a year, working as an IT officer. Annual Basic Salary 13th Month Pay and Bonuses Uniform Allowance Laundry Allowance Rice Subsidy Php 300,000 75,000 5,000 4,000 27,600 Determine how much of Mr. Santos' total compensation is taxable and how much of it is non-taxable..Industrious as he is known, Arthur, a non-VAT registered citizen, works and a government employee at daytime and accepts clients for accounting work after office hours. At the same time, Arthur maintains a t-shirt printing shop to earn more. For the taxable year ending December 31, 2021, Arthur earned the following amounts: Taxable compensation income P 850,000 Gross receipts from accounting work 1,500,000 T-shirt printing shop Gross sales P 1,400,000 Cost of sales (800,000) Gross income P 600,000 Operating expenses (400,000) Net income…Johnny received a salary of 73,000 during the year consisting of: 60,000 basic salary, 8,000 overtime pay, 5,000 13th month pay. Compute Johnny's taxable income * 60,000 68,000 O 73,000 Mr. Juanito had the following income in 2021: Compensation Income, net of 77,000 SSS, PHIC,HDMF and union Dues - 300,000; Supplemental compensation income - 30,000; 13th month pay and other benefits - 25,000 * 402,000 330,000 375,000 380,000
- 1. Paquito, a university instructor, earns a gross monthly salary of ₱46,200.00. Paquito is married and has declared one dependent under his name. Regular deductions from his monthly salary include SSS contributions amounting to ₱590.00, PhilHealth contributions amounting to ₱387.50, and PAG-IBIG contributions amounting to ₱100.00. Per month, ₱4,300.00 is deducted from his salary as withholding tax. a. Determine his net income per month and in one year.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 34,000Allan, an officer of Jetti Corporation, earned in 2018 an annual compensationof P1,300,000 inclusive of 13th month pay. The total amount of mandatorycontributions is P24,500. He also received 10,000 representing his annualclothing allowance. Aside from employment income, he owns a farm with grosssales of P3,500,000. His cost of sales and operating expenses are P1,000,000and P600,000, respectively, and with non-operating income of P100,000. Histaxable compensation income is: a. 1,179,500b. 1,275,500c. 1,181,500d. Cannot be determined based on the given
- Popoy is a messenger of Basha Logistics. He receives a monthly salary of P25,000. At the end of the year, Popoy received a cash gift of P6,000 in recognition of his services for 5yrs. In addition, he receives a monthly gas allowance of P1,000. What is the income tax liability of Popoy for the year? O 10,000 O 12,400 13,600 None of the aboveReyes earns purely compensation income for the year 2021 with an annual basic salary of Php480,000.00 and other compensation received as follows: Holiday, OT and Night Differential Pay – Php56,091.95 Sick leave conversion (3 leave credits) – Php5,517.24 Government Mandatory Contributions – Php21,900.00 How much is the total non-taxable income for the year 2021? How much is the total taxable income for the year 2021? How much is the income tax due for the year 2021?Mianel, an employee of XYZ Corp. is receiving regular monthly compensation in the amount of ₱100,000. The monthly nontaxable deductions would be GSIS (₱ 9,000.00), Philhealth (₱ 687.50), and HDMF (₱ 100.00). 1. Compute for the withholding tax due 2. Compute for the amount to be withheld.