The following are the workers of East Construction Company, their daily rate on an eight hour basis is

given below. They are at present working on a Fort Boni project. The following is a summary of hours
worked on the last week of March based on their time cards:

Positon Rate/day Mon Tues Wed Thurs Fri Sat

Steve Supervisor 900 8hrs 8hrs 8hrs 8hrs 8hrs 8hrs
Rudy Clerk 600 8 8 8 8 8 4
Sherley Secretary 750 8 8 8 8 8 8
Total gross earnings for the month of March (fill up the fourth week and the total columns) are as
follows:

1 2 3 4 Total
Steve 5,400 5,475 5,600 5,400
Rudy 3,800 3,750 3,500 3,300
Sherley 4,000 4,500 4,800 4,500

a. Compute for the taxable net income, monthly and semi-monthly basis.

MONTHLY SEMI

STEVE

GROSS PAY 21,875 10,937.50

LESS: SSS 581.30 290.65

PHILHEALTH 300.78 150.39

PAG-IBIG 100 982.08 50 491.04

Net Taxable Income 20,892.92 10,446.46

RUDY

GROSS PAY 14,350 7,175

LESS: SSS 526.80 263.40

PHILHEALTH 197.31 98.66

PAG-IBIG 100 824.11 50 412.06

Net Taxable Income 13,525.89 6,762.94

SHERLEY

GROSS PAY 17,800 8,900

LESS: SSS 581.30 290.65

PHILHEALTH 244.75 122.38

PAG-IBIG 100 926.05 50 463.03

Net Taxable Income 16,873.95 8,436.97

B. Compute for the tax liability, if any.

Steve MONTHLY SEMI-MONTHLY

Withhold Taxes Payable 11.98 5.89

C. Prepare the payroll sheet for the second half of March.

Salary Expense 27,012.50
SS Premium Payable 844.70
PhilHealth Premium Payable 371.43
Pag-ibig Premium Payable 150
Withholding Taxes Payable 5.89
Cash in bank 25,640.48