Jackie is a rank-and-file employee for two concurrent employers for 2022. She earned the following for the whole year: [Refer to the figure]. Both employers only withheld the income tax applicable to the benefits they provided.Employer AGross monthly basic pay - 33,000Mandatory deductions - 5% of the gross basic payHoliday pay - 5,000Monthly rice subsidy - 2,500Collective bargaining agreement benefit - 25,000 Employer BGross monthly basic pay - 28,000Mandatory deductions - 7% of the gross basic payOvertime pay - 10,000Uniform allowance - 10,000Actual medical assistance - 15,000Under the Certificate issued by Employer B, what amount should be reported under Item 21?A. 44,480B. 322,480C. 72,480D. 294,480

Income tax is a fee that people (or their families) and businesses have to pay. Personal income tax…

Answered: Jackie is a rank-and-file employee for…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 10PA: Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and...

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Jackie is a rank-and-file employee for two concurrent employers for 2022. She earned the following for the whole year: [Refer to the figure]. Both employers only withheld the income tax applicable to the benefits they provided.

Employer A

Gross monthly basic pay - 33,000
Mandatory deductions - 5% of the gross basic pay
Holiday pay - 5,000
Monthly rice subsidy - 2,500
Collective bargaining agreement benefit - 25,000

Employer B

Gross monthly basic pay - 28,000
Mandatory deductions - 7% of the gross basic pay
Overtime pay - 10,000
Uniform allowance - 10,000
Actual medical assistance - 15,000

Under the Certificate issued by Employer B, what amount should be reported under Item 21?

A. 44,480

B. 322,480

C. 72,480

D. 294,480

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