Question
In addition to other fringe benefits, Mr. B, a chief Accountant, availed of the car plan of his employer, C Co. Under the plan, Mr.
In addition to other fringe benefits, Mr. B, a chief Accountant, availed of the car plan of his employer, C Co. Under the plan, Mr. B shouldered only 50% of the cost of the Car. Mr. B paid P340,000 for the car. The car was registered in the name of Mr. B. The company paid another P340,000.
Required: Compute for the fringe benefit tax and make the necessary journal entries.
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Step: 1
Computing Fringe Benefit Tax and Journal Entries for Mr B 1 Calculate the taxable value of ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
