Betty, a manager at Rustan’s department store receives the following from her employer on a monthly basis:

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 2E
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Betty, a manager at Rustan’s department store receives the following from her employer on a monthly basis:

 

                Rice subsidy – Php3,000                                                                Transportation allowance – Php1,000

                Medical cash allowance – Php500                                             Laundry allowance – Php300

                Wellness allowance – Php3,000                                                  Entertainment allowance – Php800 

 

Compute for the fringe (i) benefit exempt from FBT and (ii) subject to FBT.

 

  1. (i)Php2,550;  (ii)Php3,800 C.            (i)Php2,550;  (ii)Php6,050
  2. (i)Php3,800; (ii)Php4,800 D.            (i)Php2,550; (ii)Php4,800
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