1. If the manager, who is a resident alien was given an amount of P162,500 (net)...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
1. If the manager, who is a resident alien was given an amount of P162,500 (net) due as a reward to his extraordinary exemplary performance for the past month, what is the fringe benefit tax due from the company? 1. P 40,625 2. P 54,167 3. P 56,875 4. P 87,500 1. If the manager, who is a resident citizen was given an amount of P162,500 (net) due as a reward to his extraordinary exemplary performance for the past month, what is the grossed up monetary value of the fringe benefit? 1. P 216,667 2. P 250,000 3. P 464,286 4. P 650,000 1. If the manager, who is a resident alien was given an amount of P162,500 (net) due as a reward to his extraordinary exemplary performance for the past month, what is the fringe benefit tax due from the company? 1. P 40,625 2. P 54,167 3. P 56,875 4. P 87,500 1. If the manager, who is a resident citizen was given an amount of P162,500 (net) due as a reward to his extraordinary exemplary performance for the past month, what is the grossed up monetary value of the fringe benefit? 1. P 216,667 2. P 250,000 3. P 464,286 4. P 650,000
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below To calculate the fringe benefit tax and ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these law questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
With the CARES Act costing over $2 trillion and the federal government facing a significant decline in tax revenue, explain the effectiveness of fiscal policy using the three claims outlined in the...
-
Trace the pathway of a sperm from the male testes to the uterine tube of a female.
-
Cheryl Montoya picked up the phone and called her boss, Wes Chan, the vice president of marketing at Piedmont Fasteners Corporation: Wes, Im not sure how to go about answering the questions that came...
-
Refer to the Arctic Springs Filtration Department Data Set. At Arctic Springs, water is added at the beginning of the filtration process. Conversion costs are incurred evenly throughout the process,...
-
1. Explain the key benefit of the revised approach, and the reason for the benefit. 2. MasterTag has not yet decided to implement this plan. List the pros and cons you think should be considered....
-
Handshake owns and manages a small manufacturing business in Narok town. The following balances have been extracted from his books of account at 31 December 2018: Dr Cr Sh. Sh. Capital 1,711,200...
-
?? Problems (4) to (8) below are based on Example Problem 13.4 Example Problem 13.4 FIGURE 13.41 System for Example Problem 13.4 80 ft Figure 13.41 shows a pumped fluid flow system that is being...
-
A company is planning to manufacture three different products (A, B and C) in the following sequence of operations Product A: Turning, Milling, Drilling, Welding, Painting, Assembling Product B:...
-
Starware Software was founded last year to develop software for gaming applications. Initially, the founder invested \($900,000\) and received 11 million shares of stock. Starware now needs to raise...
-
In a recent year, the total numbers of deaths in the United States due to either accidents or pneumonia were approximately equal. Therefore, the risks of death by accident and pneumonia per 100,000...
-
Sunnyfield Industries will lease a new rock crusher for $30,000 per year for 5 years, paid at the end of each year. These lease terms are consistent with an annual interest rate of 6%. How will the...
-
The radius of Earth is \(6370 \mathrm{~km}\) in the Farth reference frame. In the reference frame of a cosmic ray moving at \(0.800 c_{0}\) relative to Earth, how wide does Earth seem (a) along the...
-
You work for a leveraged buyout firm and are evaluating a potential buyout of UnderWater Company. UnderWaters stock price is \($25,\) and it has 2 million shares outstanding. You believe that if you...
-
Alfie was very excited to get hired by We Drive U, a new start-up ride-share company. Alfie had to use his own car, and pay for his own insurance and gas, but he bought himself a new Mercedes years...
-
Choose a company from the SEC EDGAR Web site for your Key Assignment to evaluate for the impact of convergence to IFRS. Review the financial reports and notes of the company you have chosen from the...
-
For each of the following situations, indicate whether the taxpayer(s) is (are) required to file a tax return for 2012. Explain your answer. a. Helen is a single taxpayer with interest income in 2012...
-
Janie graduates from high school in 2012 and enrolls in college in the fall. Her parents pay $4,000 for her tuition and fees. a. Assuming Janie's parents have AGI of $170,000, what is the American...
-
Quince Corporation has taxable income of $450,000 for its 2012 calendar tax year. Calculate the corporation's income tax liability for 2012 before tax credits. $_________
-
How else might the manager have handled the situation to prevent potential issues, including a negative impact on the teams performance?
-
What would be the most effective option to increase employee motivation to stay and reduce the driver turnover rate? Why do you believe this option will be effective?
-
In what ways do you believe providing special work arrangements or accommodations for employees impacts employee motivation? How does it help? How does it hurt?
Study smarter with the SolutionInn App