A private rank and file employee working in a remote tower station of Convulge Internet Company...
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A private rank and file employee working in a remote tower station of Convulge Internet Company received the following benefits during 2021: 13th month pay -P72,000; Performance Bonus - P15,000; Christmas Gift - P30,000; Hazard Pay - P6,000; Housing privilege P38,000; Uniform and clothing allowance - P9,000; Laundry allowance - P6,000; The housing privilege pertains to the annual value of the employee's living quarters furnished by the employer to the employees. Compute the excess de minimis benefits which will be part of 13th month pay and other benefits. A private rank and file employee working in a remote tower station of Convulge Internet Company received the following benefits during 2021: 13th month pay -P72,000; Performance Bonus - P15,000; Christmas Gift - P30,000; Hazard Pay - P6,000; Housing privilege P38,000; Uniform and clothing allowance - P9,000; Laundry allowance - P6,000; The housing privilege pertains to the annual value of the employee's living quarters furnished by the employer to the employees. Compute the excess de minimis benefits which will be part of 13th month pay and other benefits.
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Solution Given 13th month pay 7200000 Performance bonus 1500000 Christma... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0470616314
IFRS edition volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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