Complete the table below, and use the spaceprovided in typing your answer. For PhilHealthcontribution use the 2021 contribution rate.Basic Salaryof SSSdeduction BIGWITHHOLDINGТАXTermsPAG-PHILHEALTHNET PAYрaymentP35,400Monthly1.2.Semi-monthlyMonthlyP13,2003.4.P27,6005. New PhilHealthContribution Table 2021P10,000.00P350.0020213.50%P350.00 to P2,450.00P10,000.01 to P69,999.99P70,000.00P2,450.00

Answered: Image /qna-images/answer/b08f83ed-ef64-47ee-8120-5f86a44d13a3.jpg

Complete the table below, and use the space provided in typing your answer. For PhilHealth contribution use the 2021 contribution rate. of SSS deduction BIG Basic Salary Terms PAG- PHILHEALTH WITHHOLDING NET PAY раyment ТАX P35,400 Monthly 1. 2. Semi-monthly Monthly P13,200 3. 4. P27,600 5.

Complete the table below, and use the space provided in typing your answer. For PhilHealth contribution use the 2021 contribution rate. of SSS deduction BIG Basic Salary Terms PAG- PHILHEALTH WITHHOLDING NET PAY раyment ТАX P35,400 Monthly 1. 2. Semi-monthly Monthly P13,200 3. 4. P27,600 5.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: loyee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA…

A: Tax Liability is the different company's taxable income as shown in the income statement and in…

Q: Mayumi, a rank and file, reports the following for the year 2021: Compensation, net of P77,000…

A: Taxable compensation income Any individuals personal or company' compensation that is used to…

Q: Solve the following problem using 6.2%, up to $117,000, for social security tax and 1.45%, no wage…

A: Social security tax The tax imposed on employers and employees of all the organizations or a company…

Q: DSD Corp. has the following salary information for an employee: Employee Years Worked Average…

A: Number of years worked = 28 Annual benefit = $7,000

Q: Pepsi Cola Company has a define contribution plan that covers its existing employees. The terms of…

A: Accrued Benefit expense refers to the form of welfare provided to employees payable to them at a…

Q: For the current year, Casimira Travel Agency provided the following information relating to the…

A: Interest cost = Beginning Defined benefit obligation x discount rate = P7,200,000 x 10% = P720,000

Q: Use the following information for the Exercises below. (Algo) The following information applies to…

A: >An employee’s wage or salary is subject to various deductions as per law. >Hence, various…

Q: Assume the following payroll information for Jane Smith: Gross pay $10,000; deductions: income tax…

A: Every Employer is required to deduct the following amount from employees Gross Income Social…

Q: An employer uses a career average formula to determine retirement payments to its employees. The…

A: a) Years worked (n) = 27 Average salary (A) = $68000

Q: Joshua Company has a define contribution plan that covers its existing employees. The terms of the…

A: A Defined Contribution Plan is a retirement plan in which employees allocate part of their salary…

Q: Suppose the basic monthly pay an employee is P18,000.00 and his overtime pay isP1,200.00. If he has…

A: Gross pay includes all sum paid to employees in form of basic salary, overtime, allowances,…

Q: Federal El premium rates and maximums Maximum annual Maximum annual Maximum annual Year insurable…

Q: Net Pay questions using the PDOC (Payroll Deductions Online Calculator) All pay dates are June 17,…

A: Here to discuss about the details of the preparation of net pay using the online calculator of…

Q: Lisa has sent through the following information. Can you pull this togetherwith what you have…

A: As per Australian Taxation, assesses not having personal health insurance cover have to pay Medical…

Q: Supermercado Caridad offers its employees vacation benefits and contributes a 2% contribution to a…

A: (i) Employer contribution for the 401k = $125,000 x 2% = $2,500 (ii) Entries related to vacation…

Q: Sotherlin Inc. has a defined contribution plan. It has agreed to pay $210,000 now at the end of 20X4…

A: Present value of a future amount is the discounted value of such amount at a particular discount…

Q: A resident citizen has the following data on income and expenses in 2018: Gross…

A: Instead of tracking all of your expenses to determine your net expense, you can simply claim that…

Q: Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate…

A: Tax is the compulsory amount which is paid by taxpayer from their different sources of income in a…

Q: iving a monthly salary of P21,000 with mandatory annual deductions of P15,166, which includes SSS,…

A: The difference between income exempt from tax and non taxable income is that income exempt from tax…

Q: The following facts relate to the Lional Co. postretirement benefits plan for 2021: · Service cost-…

A: Interest = Post-employment benefit obligation, January 1, 2021 x Discount rat = P1,200,000 x 9% =…

Q: Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit,…

A: social security tax= $12950 x0.062=$802.9

Q: Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit,…

A: Calculate social security taxSocial security = Current month earnings * social security tax…

Q: Reese works in Prince Edward Island and has 2022 payroll totals of regular earnings of $62,700.00,…

A: Here discuss about the details of the total to be recorded in Box 14 of T4 Information. According…

Q: A call center agent receiving a monthly salary of P21,000 with mandatory annual deductions of…

Q: a.) In January 2021, NBDB incurred the following expenses for the salaries of its regular employees…

Q: n the year 2021, Qiqi Company provides benefits to employees through a defined contribution plan.…

A: Solution Concept Defined contribution plan Defined contribution plan is a plan where…

Q: BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its…

A: FICA social security tax : It is considered as a United States payroll tax and paid by the…

Q: What is the taxable compensation income of an employee who received the following: Gross…

A: Taxable Income: - Taxable Income is the adjusted gross income upon which income tax is imposed. It…

Q: ince the SUTA rates changes are made at the end of each year, the available 2019 rates were used for…

A: SUTA is a state unemployment tax it is a payroll tax charged by the state and it is to be paid by…

Q: Compute the net pay for each employee and answer the additional requirements that follow: Deductions…

A: The contribution towards sss Phil health and Pag-IBIG fund are done 30% by the employee and 70% are…

Q: On December 31, 2021, what amount should PO report for accrued salaries payable? *see attached a. P…

A: Accrued expense are those expenses which are incurred by the company but yet to make the payment for…

Q: With the following data, compute the Total FUTA Taxable Wages. Total Annual VWages $187,000 Wages…

A: FUTA means the "Federal Unemployment Tax Act" which imposes payroll tax on any business having…

Q: Calculate Nazeer's monthly UIF contribution if his gross annual salary is R130 000,00. Moosa earns…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Supermarket Caridad offers its employees vacation benefits and contributes a 2% contribution to a…

A: SOLUTION JOURNAL IS THE COMPANY'S OFFICIAL BOOK IN WHICH TRANSACTIONS ARE RECORDED IN…

Q: Minette's Québec payroll totals for the 2022 taxation year were as follows: salary of $51,900.00,…

A: Payroll: Payroll refers to the amount earned by an employee in the form of salary and other…

Q: Gross Income Compute how much will be included and excluded in the gross income given the following…

A: monthly salary of P26,494 mandatory annual deductions of P34,185 includes SSS, PhilHealth, and…

Q: Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to…

A: The wages paid to employees are subject to withholding taxes. There exist two methods to determine…

Q: Joshua Company has a define contribution plan that covers its existing employees. The terms of the…

A: The company also contributes to the defined benefit plan and these costs are recorded as benefit…

Q: The following information applies to the questions displayed below.] BMX Company has one employee.…

Q: What will be the amount for his annual gross income?

A: Income is a residual amount left after netting of net expenses incurred to earn that income. The net…

Q: Happy Woolly Inc. provides the following information about its postretirement benefit plan for the…

A: Pension is a kind of income an employee starts receiving on monthly basis after his/her services…

Q: The following information is provided to you by Wacu Wanderi ; 31st December 2019 31st December…

A: generally, if there are any opening outstanding expenses paid during the current year then those…

Q: In 2020, the amount of FICA (Social Security) amount due is_6.2_% on the first $137,700 earned for…

A: As per Internal Services Code [IRC] each employer and each…

Q: Assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare. No one will reach…

A: To calculate the Deductions and Net pay. Net Pay = Gross Pay - Medicare - Social Security - FIT.

Q: hat is the employee benefit expense for the current year? 1 300 000 1 050 000 1 500 000 1 100…

A: Correct answer for Question 1 is A Employee benefit expense = Current service cost + Past…

Q: The converted daily compensation rate of Anna is P2,000. On top of her salary, she receives a daily…

A: Compensation is a systematic approach to providing monetary value to employees in exchange of work…

Q: Design a salary slip for the month of December 2021 with information given below. Fixed vs variable…

A: Solution Working note -1 Computation fixed per annum - Fixed per annum = Ctc * fixed %.…

Q: The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be: Debit…

A: The taxes paid by the employer to the government bodies on behalf of the employees are referred as…

Q: Asha's pension adjustment (PA) in 2020 was $3,500 and in 2021 the PA was $4,000. Asha's 2020 Notice…

A: A tax year is a twelve-month period used by the government to calculate taxes.

Question

Complete the table below, and use the space
provided in typing your answer. For PhilHealth
contribution use the 2021 contribution rate.
Basic Salary
of SSS
deduction BIG
WITHHOLDING
ТАX
Terms
PAG-
PHILHEALTH
NET PAY
рayment
P35,400
Monthly
1.
2.
Semi-monthly
Monthly
P13,200
3.
4.
P27,600
5.

New PhilHealth
Contribution Table 2021
P10,000.00
P350.00
2021
3.50%
P350.00 to P2,450.00
P10,000.01 to P69,999.99
P70,000.00
P2,450.00

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1 Main Answer

VIEW

Step 2 Workings

VIEW

Step 3 Summary

VIEW

Step by step

Solved in 3 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

choices: P415,000 P370,000 P380,000 P460,000
Choose the letter of the correct answer A. P196,000 B. P204,000 C. P180,000 D. P210,000
*see attached What is the compensation expense for 2021?a. 120,000b. 240,000c. 200,000d. 660,000
What is the revenue earned from award credits for 2022? *see attached a. P 0b. P 28,000c. P 36,000d. P 116,000
A. P630,000 B. P525,000 C. P1,050,000 D. P0
What is the compensation expense for 2020?*see attached a. 150,000b. 100,500c. 300,000d. 400,000
Bookmarks Promes Prince Caspian - Chapter Sumi X West Chester University: Finan X D2L Quizzes-2022 Spring-ACC20 x Accountin X quizzing/user/attempt/quiz_start_frame_auto.d2l?ou=3269344&isprv=&drc=0&qi=2006539&cfql=0&dnb=0&fromQB=0 WWest Chester Uni... Vintage Cameral iz #4 (30 m/c, 1 hour allowed) Time Left:0:25:52 Emaan Jafri: Attempt 1 4) Listen ▶ Admire County Bank agrees to lend Givens Brick Company $600,000 on January 1. Givens Brick Company signs a $600,000, 8%, 9-month note. What is the adjusting entry required if Givens Brick Company prepares financial statements on June 30? Interest Expense a) 24,000 Cash 24,000 b) Interest Expense 24,000 24,000 Oc) Interest Payable 24,000 Cash 24,000 d) Interest Payable 24,000 24,000 A O 80 F3 F4 Interest Payable Interest Expense 2 % C F5
3. Year 0 1 2 3FCF ($ million) -100 45 97 73D=dxVL 50.39 42.23 18.79 0.00Interest 0.00 3.38 2.83 1.26
If ¥/£ quote is ¥94.30 –95.20 and that ¥/$ quote is 66.25 – 66.45. What would be the $/£quote? A. 1.4234 1.4327 B. 1.3236 - 1.3635 C. 1.1020 - 1.2010 D. 2.2036 - 2.3620
You are given the following table of values: 1000 „E45 1000 A'45: n 5 790.0660 4.56232 13.47071 10 619.7521 8.15847 28.92617 15 479.2568 10.96533 48.55201 20 362.3681 13.12044 72.63702 25 264.3810 14.72923 101.34579 30 180.8207 15.87873 135.40619 A 20-year endowment insurance policy is purchased by (45). The policy provides for a death benefit of $250,000 and a pure endowment of $50,000. What is the net single phumium? (nearest dollar) A. $90,592 B. $21,730 C. $108,751 D. $36,278 Reset Selection
0271 20161 122oint and wong liw vitorioss of 10 2016 621 570111507780002 Question 50 vd mwob 250g abnod to oulay jud asiduob loota to oulsy od viqinda WOT ST6 201611291910 e vibrd, col vimonces adt milt once and T: E renso2 You are given the following information for two assets Uno and Dos: u yo qu909 DOGO TO SLolato sulsv onT reda ai Expected rate of return Variance of return srüster2 (1) 0.0595 0.0384 0.0153 ort ano 0.0153 29:01 ano Asset Uno W bas Wydb Dos rifesw 0.2315 VISM 1 odtwob stiW bus x to noitonuts as zonesse sondt orlt to ross tot visvitsogasn 26 At a market risk premium of 3.5% and a risk-free rate of 2%, determine which asset is considered riskier by analyzing their systematic and unsystematic risks. mvilu a visM szoqquz W bas W. W to noitonuts as vilitu botooqxo a'vM to noia201qxs si nwob in W v bas xto esuley sri bait sidizzoq zi sim ooit-lain odi is gaibasl bas gniwonod goimwezA viilitu botoqxo a'vieM eximixem lliw jedi MOT
Ch. 17 - Financial Statement Anal x Bb 2193516 + i learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5f7ce11c673e5/2193516?X-Blackboard-Expiration=1648004400000&X-Blackboard-Signature=vwLhZZb3V30b7J84... 2 * O w WordCounter - Co... y! Yahoo A Regions Bank | Che.. Welcome, Justin – B. * eBooks, Textbooks... O Jefferson State Co... Electronics, Cars, Fa... C Home | Chegg.com 2193516 1 / 1 100% + | December 31, 2014 and 2013 Dec. 31, 2014 Dec. 31, 2013 Assets bloe Current assets: Cash. Marketable securities $ 500,000 $ 400,000 1,000,000 1,010,000 Accounts receivable (net)... 740,000 510,000 Inventories 1,190,000 950,000 000. Prepaid expenses. 250,000 229,000 Total current assets. $3,690,000 $3,089,000 Long-term investments... 2,350,000 2,300,000 1 Property, plant, and equipment (net) Total assets 3,740,000 3,366,000 $9,780,000 $8,755,000 Liabilities Current liabilities $ 900,000 $ 880,000 Long-term liabilities: $ 200,000 Mortgage note payable, 8%, due 2019. Bonds payable, 10%,…