n S. Gala is a sales representative at a private pharmacy. He is given a monthly rice subsidy of P2,000.00 over his monthly salary of P24,300.00. How much is his month
Q: Required information [The following information applies to the questions displayed below.] The…
A: The Social Security tax is a tax paid on both employers and employees in the United States to pay…
Q: Jeffery Simpson sells widgets for Colorful Toys, Inc. His annual salary is $50,000 per year and he…
A:
Q: Barry has paid the following insurance bills in the year ended 31 December 2020: £3,000 for the 3…
A: Answer) Calculation of total rent expense to be charged to Profit and Loss account Amount…
Q: Jin Mai is in her second year at col housemates each pay one third of the utility bill, cable…
A: Total expenses refer to the sum of all gross cash expenditures plus any pending subsidiary items,…
Q: Danny owns an electronics outlet in Dallas. This year, he paid $610 to register for a four-day…
A: Travel expenses that can be deductible as business expenses seem to be those that are spent for the…
Q: Jane James owns an appliance store. She usually receives $50,000 worth ofappliances per month. She…
A: JJ usually receives $50,000 worth appliances per month and always pays her bill on time. She finds…
Q: Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer…
A: The Child and Dependent Care Credit seem to be a nonrefundable tax credit available to taxpayers…
Q: Required information [The following information applies to the questions displayed below.] The…
A: Calculation of the net pay for both Kayla and Paula for the first week in January. For calculating…
Q: Galante Company provides free driver and a housemaid to its general manager, Alfredo Lobo. The…
A: This question deals with the fringe benefit tax in Philippines. In Philippines, fringe benefit…
Q: ohn got a new job through Island Recruiting Company.The job pays $55K per year, and the agency fee…
A: Salary or Job payout is the compensation paid by the employer to employee for the work completed. It…
Q: Markie is employed by Holy Cross as an ambulance driver with a salary of Php. 20,000 a month. In…
A: Answer: Given Monthly salary = P 20,000 Meal= P 4500 Living quarters = P 2000
Q: 4. A private university professor who receives a basic monthly salary of P80,000.00, a living…
A:
Q: Mary pays 503 for a booth rental and 322 salary for a worker during an event to sell novelty items…
A: Break even point refers to the level of revenue at which the firm earns no profits or incurs no…
Q: 4. A private university professor who receives a basic monthly salary of P80,000.00, a living…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: David is paid a monthly salary of 12,000 and earn a commission of 4% in sale. If he sold the total…
A: The gross pay is the sum total of monthly salary and commission on sales.
Q: Eric Sherm began working as a part-time waiter on April 1, 20--, at Yardville Restaurant. The cash…
A: Taxable income:-It is an income that is liable for tax payment as per the slab rate prescribed in…
Q: arl’s house payment is $1,270 per month and his car payment is $465 per month. If Carl's take-home…
A: Given Information : Carl's house payment per month = $1,270 Carl's car payment = $465 Carl's…
Q: Humaid is paid a 7% commission on all sales. He sold goods worth RO 15,000 in a month. What is his…
A: Gross pay is the money that a person received without making any deductions.
Q: Samsam, single status and without dependent, is the Manager in Walter Mart Company. He is earning…
A: Working :- Payroll tax at 1.19% of PHP 45000 = 535.50…
Q: Betty, a manager at Rustan’s department store receives the following from her employer on a monthly…
A: As per BIR rise subsidy , medical cash allowance and laundry allowance are…
Q: LaMont works for a company in downtown Chicago. The company encourages employees to use public…
A: Here the employer provides some fringe benefit to their employees and these benefits should be…
Q: Kim works for a clothing manufacturer as a dress designer. During 2021, she travels to New York City…
A: a. The total deduction for K presuming for no reimbursement is calculated below: Airfare (full)…
Q: Veronica Valentine works as a financial consultant as her sideline which earns her approximately…
A: In absence of specific information it is assumed that Valentine belongs…
Q: A salesman earns P2,500 on the 1st month, P2,800 on the 2nd month, P3,100 on the 3rd month and so…
A: Since you have posted a multiple question then we will be solving the first question only as per the…
Q: 3. On December 30, Nancy Sheridan hired an employee, Tom Shanahan, to help her with the medical…
A: In the context of the given question, we are required to compute the net wages payable and prepare…
Q: For each independent situation, determine the amount, if any that is includible in the gross income…
A: Gross income of employee: It is the amount of wages and salary earned before any taxes and…
Q: Christine Boone is an employee at Americamp Vehicles. She earns a salary of $35,450 annually, paid…
A: Solution:- Calculation of the total annual amount of Christine's fringe benefits and other…
Q: Need help with these 2 questions 6- if Jocelyns annual earnings are $72600, what is her rounded…
A: Part 6: Annual earnings = $72600 Months in a year = 12 months
Q: Melissa recently paid $870 for round-trip airfare to San Francisco to attend a business conference…
A: Business expenses are those expenses that are incurred solely for the purpose of business. Any type…
Q: In 2021, Carlos drives from his home in Los Angeles to Oregon to consult with a client. He works for…
A: The correct answer is option (e)$175
Q: 5. A. Luna is a sales agent. His official working hours is 8 hours a day, with a monthly salary of…
A: Total compensation is the total amount which an employee receives from his or her employer during…
Q: and open his own independent pharmacy. His annual expenses will include €12,000 for office rent,…
A: Implicit cost are the hidden cost which do not appear as cost but they are applicable as cost when…
Q: George runs a coffee shop. His total sales are $107,758 per month. He has the following monthly…
A: Prime cost: The prime cost is the cost incurred on direct material and direct labor in the…
Q: Jeremy worked at a bank with a monthly salary of $1,500. He decided to quit his job and open a…
A: Monthly total revenue denotes the value of sales made by the company during a month. Account profit…
Q: How much is the gross income of Mr. Ponce? Mr. Ponce is an employee of XYZ Trading. For the month of…
A: Gross income of Mr. Ponce = Basic salary + overtime and holiday pay + Transportation and cellphone…
Q: Jack is a lawyer who is a member at Ocean Spray Country Club where he spends $7,200 in dues, $4,000…
A: Formula: Total expense = Business meals + Rotary club fees Sum of both business meals and rotary…
Q: Ahmed receives 22% commission on the appliances he sells. He sells a kettle for 2000 taka, a food…
A: Basic Salary = 34,000 Commission = 22% Sales = Kettle sales + Food Processor Sales + Oven Sales…
Q: Georgie provides a service where she teaches yoga to people through Zoom. She works from a small…
A: As per our policy, I am solving first three sub-questions. Please repost the question by asking…
Q: 1. Suppose a business wants to provide $2000 a month per employee for indemnity health insurance.…
A: Tax is a charge which is charged to the taxpayer on the taxable income. The tax amount has to be…
Q: John works at a computer outlet. He receives a weekly salary of $300 plus 5% commission on his…
A: The explanation is given in the next sheet.
Q: ulie paid a day care center to watch her two-year-old son while she worked as a computer programmer…
A: Child and dependent care credit = $1,500
Q: Assume an employee has a meeting with a potential client. The employee spends P2,500 on airfare,…
A: Out of pocket cost: Out of pocket cost is the amount of office or work related charges which are…
Q: Q- if Russell's annual earnings are $47500, what is his semi-monthly pay, rounded to the nearest…
A: Cash Flows: Cash flows are the cash generated from the operation of the business organization. In…
Q: Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer…
A: Your adjusted gross income (AGI) is used by the Internal Revenue Service to determine your tax…
Q: Jackie owns a temporary employment agency that hires personnel to perform accounting services for…
A: Introduction: Businesses incur a variety of expenditures. An expense is a form of spending that…
Q: Sebastian sells cars for a living. Each month, he earns $1,400.00$1,400.00 of base pay, plus…
A: Formula: Total Income = Base pay + commission from sales. Sales commission: Its a incentive to be…
Q: 2. David Herbert earns $2,475 a month as a security guard for Baldwin Enterprises. His group medical…
A: The question is related to Insurance. The details are given.
Q: Garth Grits works as an employee at Superior Foods, a local supermarket. As an employee, Garth…
A: Given that, Garth earns $17 per hour and works 200 hours per month. Garth currently supplements his…
2.Allan S. Gala is a sales representative at a private pharmacy. He is given a monthly rice subsidy of P2,000.00 over his monthly salary of P24,300.00. How much is his monthly net pay
Step by step
Solved in 2 steps
- Lori Kinmark works as a jeweler for a local company. She earns 1,000 per week, plus a year-end bonus of 2,000. Kinmark also earns an additional net self-employment income of 28,000 per year. ____1.Compute Kinmarks annual earnings from employment. ____2.Compute Kinmarks total earnings from her job and from self-employment income. ____3.How much self-employment income should Kinmark include in computing taxable self-employment income for OASDI taxes? ____4.What are the total FICA taxes on her self-employment earnings?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. (i)Php2,550; (ii)Php3,800 C. (i)Php2,550; (ii)Php6,050 (i)Php3,800; (ii)Php4,800 D. (i)Php2,550; (ii)Php4,800An individual has a gross monthly salary of £2,000. Five per cent national insurance is paid by the employee, 6% is paid by the employer. PAYE has been calculated at £380 for the month. He receives an interest-free travel loan of £100 per month which is deducted from his salary and his monthly subscription to a Christmas club fund is £50 which comes straight out of his salary. Calculate his take-home pay.
- Assume that Lito Maria has a basic monthly income of 65,980. His company provides the following benefits to their employees: educational benefit of 45,000 per child (Lito has 5 children, 1 has already graduated is working); rice allowance of 1500 per month; load allowance of 800 per month; laundry allowance given every end of the quarter 2500; uniform allowance given every March 8,000 and an anniversary bonus of 12,000 given every October. His company provides 13th month pay as mandated by the government. Compute for the problems individually unless specifically stated.1. Compute for his withholding tax for the month of March given that he had overtimes amounting to 2,980. And holiday pay of 5,275.38. Plus any benefits received this month?Jack is a lawyer who is a member at Ocean Spray Country Club where he spends $7,200 in dues, $4,000 in business meals, and $2,000 in green fees to entertain clients. He has separate invoices for the meals. He is also a member of the local Rotary club where he meets potential clients. The dues for the Rotary club are $1,200 a year. How much of the above expenses can Jack deduct as business expenses? a.$7,200 b.$4,200 c.$3,200 d.$14,400 e.None of these choices are correct.Melissa recently paid $400 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also paid the following expenses: $250 fee to register for the conference, $300 per night for three nights' lodging, $200 for meals in restaurants, and $150 for cab fare. a) What amount of these costs can Melissa deduct as business expenses? b) Suppose that while Melissa was on the coast, she also spent two days sightseeing the national parks in the area. To do the sightseeing, she paid $1,000 for transportation, $800 for lodging, and $450 for meals during this part of her trip, which she considers personal in nature. What amount of these costs can Melissa deduct as business expenses? c) Suppose that Melissa made the trip to San Francisco primarily to visit the national parks and only attended the business conference as an incidental benefit of being present on the coast at that time. What amount of the airfare can Melissa deduct as a business expense? d) Suppose…
- Stella sells shoes for a retail store and receives wages of $1875 per month plus 4% commission on all her sales. What were her sales in a month in which she received a total pay of $1953 ?Dontae's employer has offered him the following employment package. Salary $ 400,000 Health insurance 10,000 Dental insurance 1,500 Membership to Heflin Country Club 20,000 Season tickets to Atlanta Braves games 5,000 Tuition reimbursement for graduate courses 4,000 Housing allowance (for a McMansion in his neighborhood of choice) 40,000 What is Dontae’s gross income from his employment?Q- if Russell's annual earnings are $47500, what is his semi-monthly pay, rounded to the nearest dollar? Q- Danya is in grade 12 and works weekends and after school as a cashier at the dollar store, earing $17.00/h. She works an average of 27 hours per week. Her average bi-weekly pay, rounded to the nearst dollar is?
- The Carp family makes a $30,000 down payment on a $150,000 home. They finance it for 15 years at 3 7/8%. If annual taxes are $2,970 and homeowners insurance is $940, what will their total PITI payment be? If the bank charges 2 discount points, how much will the Carp family pay for them? Referring to question #15, if the Carp's have a gross monthly income of $5,600 and total fixed monthly expenses of $2,720, which includes their house payment, calculate the housing ratio and the debt to income ratio. Do they qualify?Mang Carding is a minimum wage earner. To augment his earnings, he put up a mini store under his name and managed by his wife. Records show the following relating to his compensation and store operations for the taxable year: Basic salary P85,000 Overtime and holiday pay 10,000 13th month pay 8,000 14th month pay 8,000 Allowances 25,000 De minimis – limit 20,000 De minimis – excess over limit 10,000 Store gross income 100,000 Compute the taxable income of Mang Carding.Sebastian sells cars for a living. Each month, he earns $1,400.00$1,400.00 of base pay, plus 11.3%11.3% of commission from his sales. One month, Sebastian made $44,400.00$44,400.00 in sales. How much income did he earn in total in that month?
