Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer and Explain every details on how you come up with the answers. Gross Income (3 items x 10 points) Compute how much will be

Answer and Explain every details on how you come up with the answers.image text in transcribed

Gross Income (3 items x 10 points) Compute how much will be included and excluded in the gross income given the following scenarios. 1. A call center agent receiving a monthly salary of P21,000 with mandatory annual deductions of P15, 166, which includes SSS, PhilHealth, and Pag-Ibig contributions. What will be the amount for his annual gross income? 2. A public school teacher receiving a monthly salary of P26,494 with mandatory annual deductions of P34,185, which includes SSS, PhilHealth, and Pag-Ibig contributions. What will be the amount for his annual gross income? 3. A resident alien couple with two (2) dependent children. The husband receives an annual salary of P652,000, living allowances of P100,000, and a housing benefit of P300,000 (100%). His wife receives P68,000 from her teaching profession. The husband receives the following: gross dividend income from investment in shares of stock of a domestic corporation, P10,000; interest from a peso bank account, P20,000; capital gain on sale of shares, P5,000; and taxes withheld by the employer of the husband at P118,000 and by the employer of the wife. How much will be the total gross annual income of the husband and wife

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Locate all period-3 points of the Baker map in the (p,q) plane.

Answered: 1 week ago

Question

How do books become world of wonder?

Answered: 1 week ago

Question

If ( A^2 - A + I = 0 ), then inverse of matrix ( A ) is?

Answered: 1 week ago