Page 3 of 4 I. TAXABLE OR NON-TAXABLE INCOME Put a CHECK MARK on the appropriate column. If the benefit is taxable or has a taxable portion, indicate the taxable amount on the column provided. PURELY NON- TAXABLE If TAXABLE, how much is the taxable amount FOR THE YEAR? BENEFIT TAXABLE 1. Laundry allowance amounting to P 4,500 a year 2. Uniform allowance amounting to P6,500 a year 3. Gifts given during Christmas amounting to P8,000. 4. One sack of rice (50 kg) each month. The rice is valued at P50.00 per kilo. 5. A one-time actual medical assistance amounting to P 25,000.00 was received during the year. IV. PROBLEM SOLVING Solve the following problems. Write your final answer on the space provided. Present your solution at the back page or attach a separat sheet if necessary. ANSWER QUESTION
Page 3 of 4 I. TAXABLE OR NON-TAXABLE INCOME Put a CHECK MARK on the appropriate column. If the benefit is taxable or has a taxable portion, indicate the taxable amount on the column provided. PURELY NON- TAXABLE If TAXABLE, how much is the taxable amount FOR THE YEAR? BENEFIT TAXABLE 1. Laundry allowance amounting to P 4,500 a year 2. Uniform allowance amounting to P6,500 a year 3. Gifts given during Christmas amounting to P8,000. 4. One sack of rice (50 kg) each month. The rice is valued at P50.00 per kilo. 5. A one-time actual medical assistance amounting to P 25,000.00 was received during the year. IV. PROBLEM SOLVING Solve the following problems. Write your final answer on the space provided. Present your solution at the back page or attach a separat sheet if necessary. ANSWER QUESTION
Chapter22: S Corporations
Section: Chapter Questions
Problem 9DQ
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Transcribed Image Text:Page 3 of 4
I. TAXABLE OR NON-TAXABLE INCOME
Put a CHECK MARK on the appropriate column.
If the benefit is taxable or has a taxable portion, indicate the taxable amount on the column provided.
If TAXABLE, how much is
the taxable amount FOR
THE YEAR?
BENEFIT
PURELY NON-
TAXABLE
TAXABLE
1. Laundry allowance amounting to P 4,500 a year
2. Uniform allowance amounting to P6,500 a year
3. Gifts given during Christmas amounting to
P8,000.
4. One sack of rice (50 kg) each month. The rice is
valued at P50.00 per kilo.
5. A one-time actual medical assistance amounting
to P 25,000.00 was received during the year.
IV. PROBLEM SOLVING
Solve the following problems.
Write your final answer on the space provided. Present your solution at the back page or attach a separate
sheet if necessary.
ANSWER
QUESTION
Leah sells gadgets. She is given 13% 0omm
1
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