Question
Use the following information on the next four questions: Juan Dela Cruz, accounting manager of ABC Corporation, provided the following data for 2020: Salaries @P120,000
Use the following information on the next four questions: Juan Dela Cruz, accounting manager of ABC Corporation, provided the following data for 2020: Salaries @P120,000 per month P1,440,000 Allowances subject to liquidation 50,000 Allowances not subject to liquidation 60,000 Rice allowance @P3,000 per month 36,000 Christmas gift/bonus 30,000 13th month pay and mid-year bonus 240,000 Productivity incentive pay covered by CBA 25,000 Monetized unused vacation leave for 12 days 66,000 Monetized unused sick leave for 5 days 27,500 Medical cash allowance to dependents 3,000 Actual medical benefits 10,000 Creditable withholding tax on compensation income 397,150
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