FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Fringe Benefit Tax
Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the…
Question
Learning Task 5-8.8 Stem Options: Choose the best answer. (Use the table on page 28 for your ref- erence). 1. How much is the tax due on a taxable income of P250,000? а. О b. 1,250 с. 50,000 d. 30,000 2. How much is the tax due on a taxable income of P890,000? а. 127,000 b. 157,000 с. 175,000 d. 181,000 3. Mrs. Cruz, married with one qualified dependent, earns compensation incom of P530,00 during a taxable year. How much is the tax due of Mrs. Cruz? а. 25,600 b. 26,500 с. 56,200 d. 62,500 4. Ms. Rye earns a compensation income of P14,860,000 during 20x1. How much is the tax due of Ms. Rye? d. 4,811,000 e. 5,611,000 f. 3,914,000 g. 6,111,000 5. The pay slip of Mr. Zoe shows the following information: Basic salary 472,000 SSS contribution 6,976 Philhealth contribution 5,250 Pag-IBIG contribution 1,200 How much is the tax due of Mr. Zoe?
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Transcribed Image Text:Learning Task 5-8.8 Stem Options: Choose the best answer. (Use the table on page 28 for your ref- erence). 1. How much is the tax due on a taxable income of P250,000? а. О b. 1,250 с. 50,000 d. 30,000 2. How much is the tax due on a taxable income of P890,000? а. 127,000 b. 157,000 с. 175,000 d. 181,000 3. Mrs. Cruz, married with one qualified dependent, earns compensation incom of P530,00 during a taxable year. How much is the tax due of Mrs. Cruz? а. 25,600 b. 26,500 с. 56,200 d. 62,500 4. Ms. Rye earns a compensation income of P14,860,000 during 20x1. How much is the tax due of Ms. Rye? d. 4,811,000 e. 5,611,000 f. 3,914,000 g. 6,111,000 5. The pay slip of Mr. Zoe shows the following information: Basic salary 472,000 SSS contribution 6,976 Philhealth contribution 5,250 Pag-IBIG contribution 1,200 How much is the tax due of Mr. Zoe?
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