Payroll. Lorna Chavez is a line manager of Sunday Machine Works and is receiving a monthly salary of P30,000. She is the head of the family with two dependents. She got a cash advance of P1,500 on March 20 to be deducted from her take home pay on March 31. a) How much is her monthly net taxable income? b) How much is her take home pay as at March 15? March 31? Use the SS contribution rate of 4%, 2.75% for Philhealth, 2% of P5,000 for Pag-ibig. Semi monthly taxable income Less Withholding tax SS for half month Gross Pay Less SS PH Pxx (xx) (xx) (xx) Pxx / 2 Pxx Use the Semi-monthly Withholding Tax Table Column 2. Pag-ibig Net Monthly Taxable Income Semi-monthly Taxable Income Philhealth for half month Pag-ibig for half month Net earnings (take home pay) Pxx (xx) (xx) (xx) (xx) Prx
Payroll. Lorna Chavez is a line manager of Sunday Machine Works and is receiving a monthly salary of P30,000. She is the head of the family with two dependents. She got a cash advance of P1,500 on March 20 to be deducted from her take home pay on March 31. a) How much is her monthly net taxable income? b) How much is her take home pay as at March 15? March 31? Use the SS contribution rate of 4%, 2.75% for Philhealth, 2% of P5,000 for Pag-ibig. Semi monthly taxable income Less Withholding tax SS for half month Gross Pay Less SS PH Pxx (xx) (xx) (xx) Pxx / 2 Pxx Use the Semi-monthly Withholding Tax Table Column 2. Pag-ibig Net Monthly Taxable Income Semi-monthly Taxable Income Philhealth for half month Pag-ibig for half month Net earnings (take home pay) Pxx (xx) (xx) (xx) (xx) Prx
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 7E
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Question
![1. Payroll. Lorna Chavez is a line manager of Sunday Machine Works and is receiving a
monthly salary of P30,000. She is the head of the family with two dependents. She got a
cash advance of P1,500 on March 20 to be deducted from her take home pay on March 31.
a) How much is her monthly net taxable income?
b) How much is her take home pay as at March 15? March 31?
Use the SS contribution rate of 4%, 2.75% for Philhealth, 2% of P5,000 for Pag-ibig.
Gross Pay
Less SS
Semi monthly taxable income
Less Withholding tax
PH
SS for half month
Philhealth for half month
Pag-ibig for half month
Net earnings (take home pay)
PxXx
(xx)
(xx)
(xx)
Pxx / 2
Pxx
Use the Semi-monthly Withholding Tax Table Column 2.
Pag-ibig
Net Monthly Taxable Income
Semi-monthly Taxable Income
Pxx
(xx)
(xx)
(xx)
(xx)
Prx](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F723ce8c7-e69d-4dc2-ad89-8bab285851e2%2Fb2bdc9ab-ecb9-4660-b7ac-4a661d8c7dab%2F34fu32ra_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1. Payroll. Lorna Chavez is a line manager of Sunday Machine Works and is receiving a
monthly salary of P30,000. She is the head of the family with two dependents. She got a
cash advance of P1,500 on March 20 to be deducted from her take home pay on March 31.
a) How much is her monthly net taxable income?
b) How much is her take home pay as at March 15? March 31?
Use the SS contribution rate of 4%, 2.75% for Philhealth, 2% of P5,000 for Pag-ibig.
Gross Pay
Less SS
Semi monthly taxable income
Less Withholding tax
PH
SS for half month
Philhealth for half month
Pag-ibig for half month
Net earnings (take home pay)
PxXx
(xx)
(xx)
(xx)
Pxx / 2
Pxx
Use the Semi-monthly Withholding Tax Table Column 2.
Pag-ibig
Net Monthly Taxable Income
Semi-monthly Taxable Income
Pxx
(xx)
(xx)
(xx)
(xx)
Prx
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