Directions: 1. Compute for the gross taxable income and tax due of Ms. Myra dela Torre, supervisor of the telecommunication company. Basic salary of P1,401,148.83, 13th-month pay, and other benefits P90,000.00, de minimis benefits of P40,000.00, SSS/GSIS/, PHIC, and Pag-ibig contributions P16,570.60. 2. Explain the procedure of how you computed the gross taxable income and tax due of Ms. dela Torre.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Directions: 1. Compute for the gross taxable income and tax
due of Ms. Myra dela Torre,
supervisor of
the
telecommunication company. Basic salary of P1,401,148.83,
13th-month pay, and other benefits P90,000.00, de minimis
benefits of P40,000.00, SSS/GSIS/, PHIC, and Pag-ibig
contributions P16,570.60.
2. Explain the procedure of how you computed the gross
taxable income and tax due of Ms. dela Torre.
Transcribed Image Text:Problem Solving Directions: 1. Compute for the gross taxable income and tax due of Ms. Myra dela Torre, supervisor of the telecommunication company. Basic salary of P1,401,148.83, 13th-month pay, and other benefits P90,000.00, de minimis benefits of P40,000.00, SSS/GSIS/, PHIC, and Pag-ibig contributions P16,570.60. 2. Explain the procedure of how you computed the gross taxable income and tax due of Ms. dela Torre.
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