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1. Mr. Jerzon Cayetano received the following from his employer during the current taxable year: Basic monthly salary Monthly RATA Php 45,000.00 Php 10,000.00
1. Mr. Jerzon Cayetano received the following from his employer during the current taxable year: Basic monthly salary Monthly RATA Php 45,000.00 Php 10,000.00 Php 37,500.00 13th month pay Christmas bonus amounting to 120% of his basic monthly salary 5% commission on net sales of Php 6,050,000.00 Loyalty Award Bonus = Overtime Pay for the year= Compute for Mr. Cayetano's GROSS TAXABLE COMPENSATION INCOME. Php 40,000.00 Php 5,500.00 2. Ms. Joanna Mendoza works as a secretary in a private firm. She earns Php 50,000.00 monthly as her salary. At the end of the calendar year, she also received Php 50,000.00 as her 13th month pay, and total honoraria amounting to Php 10,000.00. Lastly, she had her 5-day remaining VLs converted to cash amounting to Php 12,500.00. Compute for Ms. Mendoza's GROSS TAXABLE COMPENSATION INCOME.
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1 To compute Mr Cayetanos Gross Taxable Compensation Income we need to add up all the income compone...Get Instant Access to Expert-Tailored Solutions
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