How much is the total exclusion from gross income? Basic salary-P1,000,000;13th month pay and other benefit- P200,000;Overtime pay-P50,000; Mandatory deductions-P65,000; Union dues -P10,000; Adances from employeer-P5,000; Absences- P10,000

Q: ) The date by which the deposit should have been made b) The penalty for failure to make timely…

A:

Q: e. Record any journal entries separately for the employees’ pay/withholding, fringe benefits, and…

A: Income tax Payable: It refers to the amount which is required to be paid by an entity on the taxable…

Q: The following information appeared in the 2020 BIR Form 2316 (Certificate of Compensation…

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Q: 58. Goyo is a purely compensation income earner receiving minimum wage. He made available the…

A: Minimum wages are known as “the minimum value of payment or remuneration that an employer is bound…

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A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any…

Q: CFG Company has the following employees: Wages Paid $ 16,000 3,500 25,000 Eddie Melanie Shelly CFG…

A: FUTA Taxes are payable @6% for First 7000 Wages. After 7000 Taxes are not applicable.   FUTA Taxes…

Q: taxes, and employee fringe benefits LO2, 3, 4 s payroll register for the week ended March 16, 2018:…

A: Payroll  entries show detailed record relating to salaries or wages of employees along with its…

Q: Basic salary - P732,000 Overtime pay - 34,000 Holiday pay - 56,000 Cost of living allowance - 70,000…

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Q: Assume the year is 2021. On March 15, Juneau Inc. pays each of 15 employees gross wages of $50,000.…

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Q: Cardo reported the following for the taxable year: Basic salary 900,000; supplemental compensation…

A: Basic salary.                                        900,000 Add: supplemental compensation. 150,000…

Q: 68. Goyo is a purely compensation income earner receiving minimum wage. He made available the…

A: Minimum wages are the minimum amount of money that an employer is required to pay wage laborers for…

Q: 3. Ethel Corp. Has the following data for the month of March 2021: Gross Payroll Employee's…

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: Use the following tax rates, ceiling and maximum taxes: Employee and Employer OASDI:    6.20%…

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Q: With the following data, compute the Total FUTA Taxable Wages.   Total Annual Wages…

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Q: Jason Jefferies earned $10,200 while working for Brown Company. The company's SUTA tax rate is 2.9%…

A: Given: SUTA rate = 2.9% Payroll = $7,000

Q: [The following information applies to the questions displayed below.] BMX Company has one employee.…

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Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

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Q: (The following information applies to the questions displayed below.] BMX Company has one employee.…

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Q: are his self-employment taxes (OASDI and HI) on these earnings?

A:

Q: An employee earned $50,000 during the year. FICA tax for Social Security is 6.2% and FICA tax for…

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Q: What is the taxable compensation income of an employee who received the following: Gross…

A: Taxable Income: - Taxable Income is the adjusted gross income upon which income tax is imposed. It…

Q: Use the following tax rates, ceiling and maximum taxes: Employee and Employer OASDI:    6.20%…

A: Payroll taxes The employer is required to pay a certain percentage to the government on the behalf…

Q: Z, a poverty wages worker, earned the following in 2018: a basic income of P 140,000, a 20,000-peso…

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Q: 3. Ethel Corp. Has the following data for the month of March 2021: Gross Payroll Employee's…

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Q: Problem Information Use the following tax rates, celing and maximum taxes: Employee and Employer…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

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Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

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Q: An employee received the following compensation during the year: Gross compensation (11,000 x 13…

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Q: Black Company paid wages of $180,000 of which $40,000 was qualified for the work opportunity tax…

A: The correct option is Option “d”.

Q: An employer is subject to FUTA requirements when its wages paid for the quarter exceed:

A: Answer and Explanation is given below,

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Q: [The following information applies to the questions displayed below.] BMX Company has one employee.…

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Q: he following information appeared in the 2020 BIR Form 2316 (Certificate of Compensation Payment/Tax…

A: Answer: 13th month pay and other benefits                            - Non taxable-…

Q: 8. Z, minimum wage eamer, received the following for 2018: basic salary of P 140,000, overtime pay…

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Q: In the case where an employer is delinquent in paying contributions to the state for SUTA: a.…

A: The correct answer is Option (a).

Q: Cardo reported the following for the taxable year: Basic salary 900,000; supplemental compensation…

A: The rules governing the pay scales and the taxability of the compensation given to the employees…

Q: Waterway Industries's payroll for the pay period ended October 31, 2021 is summarized as follows:…

A: Payroll taxes: It is the tax that is withheld, charged, or levied on the payroll of the employer and…