Mr. Ben T. Lador, the Chief Accountant, availed of the car plan of Kiowa Company. Under the plan, he will shoulder only half of the cost of the car, with the company shouldering the other half. He paid P450,000 for the car. The car was registered in the name of Mr. Lador. Questions: 1. How much is the fringe benefit tax due? 2. How much is the deductible expense of Kiowa Company?
Mr. Ben T. Lador, the Chief Accountant, availed of the car plan of Kiowa Company. Under the plan, he will shoulder only half of the cost of the car, with the company shouldering the other half. He paid P450,000 for the car. The car was registered in the name of Mr. Lador. Questions: 1. How much is the fringe benefit tax due? 2. How much is the deductible expense of Kiowa Company?
Chapter3: Income Sources
Section: Chapter Questions
Problem 77P: During the last five months of the year, Dwana opens a new Internet telecommunications business...
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Mr. Ben T. Lador, the Chief Accountant, availed of the car plan of Kiowa Company. Under the plan, he will shoulder only half of the cost of the car, with the company shouldering the other half. He paid P450,000 for the car. The car was registered in the name of Mr. Lador. | |||||||||
Questions: | |||||||||
1. How much is the |
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2. How much is the deductible expense of Kiowa Company? |
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