In 2018, A Corporation allowed its Sales Manager to incur expenses subject to reimbursement, as follows: Electricity (Meralco) - 70% in the name of A P20,000 Corporation Water (Maynilad) - 70% in the name of A 2,000 Corporation Grocery (SM) 10,000 Gasoline of Company car used for business 12,000 trip Representation and Transportation - 4,000 business trip The amount of fringe benefit tax is (Note: Round off to the nearest peso)
In 2018, A Corporation allowed its Sales Manager to incur expenses subject to reimbursement, as follows: Electricity (Meralco) - 70% in the name of A P20,000 Corporation Water (Maynilad) - 70% in the name of A 2,000 Corporation Grocery (SM) 10,000 Gasoline of Company car used for business 12,000 trip Representation and Transportation - 4,000 business trip The amount of fringe benefit tax is (Note: Round off to the nearest peso)
Chapter20: Corporations And Parterships
Section: Chapter Questions
Problem 31CE
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