NAME: Jimenez, Ross John C.

Year-Course-Section: 3-BSMA-A

CHAPTER 3 ASSIGNMENT

3.3
Compensation income P 900,000
Monthly transportation allowance 36,000
De Minimis Other
Benefits Benefits
13th month pay - P 75,000
Christmas bonus (P5,000 de minimis under RR 1-2015) 5,000 20,000
Productivity incentive pay (de minimis under RR 1-2015) 10,000 -
Uniform allowance (15,000 - 5,000) 5,000 10,000
Medical allowance (entire amount is de minimis) 10,000 -
Rice subsidy [24,000-(1,500 x 12)] 24,000 12,000
13th Month Pay & Other Benefits 117,000
Tax Exempt (90,000) 27,000
Taxable net income P 963,000

3.4
Compensation income P 900,000
Monthly transportation allowance 36,000
De Minimis Other
Benefits Benefits
13th month pay - P 75,000
Christmas bonus (P5,000 de minimis under RR 1-2015) 5,000 20,000
Productivity incentive pay - 20,000
Uniform allowance (15,000 - 5,000) 5,000 10,000
Medical allowance (entire amount is de minimis) 10,000 -
Rice subsidy [24,000-(1,500 x 12)] 24,000 12,000
13th Month Pay & Other Benefits 137,000
Tax Exempt (90,000) 47, 000
Taxable net income P 983,000

3.5
Compensation income P 540,000
De Minimis Other
Benefits Benefits
13th month pay - P 45,000
Mid-year bonus - 22,500
Christmas gift P 5,000 5,000
Uniform allowance (7,500 – 6,000) 6,000 1,500
Actual Medical allowance (15,000 – 10,000) 10,000 5,000
Medical allowance to dependents 2,000 -
Rice subsidy (entire amount is de minimis) 18,000 -
Monetized vacation leave [24,000-(2,000x 10)] 20,000 4,000
13th Month Pay & Other Benefits 83,000
Tax Exempt (90,000) -
Taxable net income P 540,000
3.6
1.
a. P165,000 x 50% = P82,500
b. P82,500/65% x 35% = P44,423

2.
a. P4,500,000 x 5% /4 x 50% = P28,125
b. P28,125/65% x 35% = P15,144

3.
a. P5,000,000
b. P5,000,000/65% x 35% = P2,692,308

4.
a. P1,200,000
b. P1,200,000/65% x 35% = P646,154

5.
a. P800,000
b. P800,000/65% x 35% = P430,769

6.
a. P1,200,000/5 = P240,000
b. P240,000/65% x 35% = P129,230