4.A private university professor who receives a basic monthly salary ofP80,000.00, a living allowance of P2,000.00 per month.Suppose this university professor has to pay monthly P14,833.33 forincome tax, P2,450.00 for Philhealth, P1,600.00 for Pag-ibig andP1,125.00 for SSS contributions. What is the monthly net income of theprivate university professor?5.A minimum wage earner in Metro Manila is paid P537.00 for an 8-hourworkday. If he works for 22 days in one month, then he will have a monthlygross income of P537.00 x 22= P11,814.00.A minimum wage earner is exempted from paying income tax. Suppose hisdeductions per month are P236.28 for Pag-ibig, P350.00 for PhilHealthand P540.00 for SSS. What is the take home pay of the minimum wageearner in metro manila?

Answered: Image /qna-images/answer/46479575-c0ff-4ab9-bdc7-d516ace84331.jpg

4. A private university professor who receives a basic monthly salary of P80,000.00, a living allowance of P2,000.00 per month. Suppose this university professor has to pay monthly P14,833.33 for income tax, P2,450.00 for Philhealth, P1,600.00 for Pag-ibig and P1,125.00 for SSS contributions. What is the monthly net income of the private university professor?

4. A private university professor who receives a basic monthly salary of P80,000.00, a living allowance of P2,000.00 per month. Suppose this university professor has to pay monthly P14,833.33 for income tax, P2,450.00 for Philhealth, P1,600.00 for Pag-ibig and P1,125.00 for SSS contributions. What is the monthly net income of the private university professor?

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 3CPA: Linda is an employee of JRH Corporation. Which of the following would be included in Lindas gross...

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Linda is an employee of JRH Corporation. Which of the following would be included in Lindas gross income? a. Premiums paid by JRH Corporation for a group term life insurance policy for 50,000 of coverage for Linda. b. 1,000 of tuition paid by JRH Corporation to State University for Lindas masters degree program. c. A 2,000 trip given to Linda by JRH Corporation for meeting sales goals. d. 1,200 paid by JRH Corporation for an annual parking pass for Linda.
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