Direction: Act as an accountant. Enter the given data in excel and compute for the gross income, the exact amount of partial deductions, total deductions, and net pay. Deductions: SSS = 4% Philhealth = 1.50% Pagibig = 2% Tax = 12% (Please show the formula in excel)

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
Direction: Act as an accountant. Enter the given data in excel and compute for the gross income, the exact amount of partial deductions, total deductions, and net pay. Deductions: SSS = 4% Philhealth = 1.50% Pagibig = 2% Tax = 12% (Please show the formula in excel)
INCOME
Name
Basic Monthly
Salary
SSS
Allowance Gross Income
4%
4 Magpayo, Lyn
5 Quiambao, Jhaz
6 Cruz, Runsel
7 Garcia, Geth
a Niedao, Maine
9 Mendoza, Rhoda
10 Mallari, Tes
11 Santon. Paula
12 Urbano, Jannen
P20,000.00 P2,000.00
P25,000.00 P2,000.00
P30,000.00 P2,000.00
P40,000.00 P2,000.00
P450,000.00 P2,000.00
P50,000.00 P2,000.00
P55,000.00 P2,000.00
P60,000.00 P2,000.00
P65,000.00 P2.000.00
Transcribed Image Text:INCOME Name Basic Monthly Salary SSS Allowance Gross Income 4% 4 Magpayo, Lyn 5 Quiambao, Jhaz 6 Cruz, Runsel 7 Garcia, Geth a Niedao, Maine 9 Mendoza, Rhoda 10 Mallari, Tes 11 Santon. Paula 12 Urbano, Jannen P20,000.00 P2,000.00 P25,000.00 P2,000.00 P30,000.00 P2,000.00 P40,000.00 P2,000.00 P450,000.00 P2,000.00 P50,000.00 P2,000.00 P55,000.00 P2,000.00 P60,000.00 P2,000.00 P65,000.00 P2.000.00
INCOME
DEDUCTIONS
Baale Munthly
Salary
Name
S5s PHILHEALTH PAGIG
TAX
NET PAY
Allwnce Gre Income
Tutal
Deduntiene
2%
12%
6 Cr, her
7Garcia, Gieth
Nda, Maine
Menidann, thoda
to Mallari, Tes
1 Sasten, Paula
12 trtann laeen
P20,000.00 P2.000 00
Pa5,000.00 P2.000.00
P0,000.00 P2000.00
P0,000.00 P2.000.00
PAS0,000.00 P2000.00
PO0,000.00 P2000.00
P000.00P2.000.00
P0.000.0ol 2.000.0X0
P5,000.00 P2.000.00
Transcribed Image Text:INCOME DEDUCTIONS Baale Munthly Salary Name S5s PHILHEALTH PAGIG TAX NET PAY Allwnce Gre Income Tutal Deduntiene 2% 12% 6 Cr, her 7Garcia, Gieth Nda, Maine Menidann, thoda to Mallari, Tes 1 Sasten, Paula 12 trtann laeen P20,000.00 P2.000 00 Pa5,000.00 P2.000.00 P0,000.00 P2000.00 P0,000.00 P2.000.00 PAS0,000.00 P2000.00 PO0,000.00 P2000.00 P000.00P2.000.00 P0.000.0ol 2.000.0X0 P5,000.00 P2.000.00
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
State Income Taxes
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
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