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TOPIC: GROSS INCOME 2. Mr. B is the General Manager of a bank and receives the following incentives: a. Housing Facility with a Fair Value
TOPIC: GROSS INCOME
2. Mr. B is the General Manager of a bank and receives the following incentives: a. Housing Facility with a Fair Value of P1,500,000. Ownership is not transferred to Mr. B. b. Car Subsidy of P500,000 cash. Determine the following: a. Gross-up Monetary Value of Fringe Benefits for the Housing Facility b. Gross-up Monetary Value of Fringe Benefits for the Car Subsidy c. Monetary Value of Fringe Benefits for the Housing Facility d. Monetary Value of Fringe Benefits for the Car Subsidy e. Total Fringe Benefit TaxStep by Step Solution
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