4. A private university professor who receives a basic monthly salary of P80,000.00, a living allowance of P2,000.00 per month. Suppose this university professor has to pay monthly P14,833.33 for income tax, P2,450.00 for Philhealth, P1,600.00 for Pag-ibig and P1,125.00 for SSS contributions. What is the monthly net income of the private university professor? 5. A minimum wage earner in Metro Manila is paid P537.00 for an 8-hour workday. If he works for 22 days in one month, then he will have a monthly gross income of P537.00 x 22 = P11,814.00. A minimum wage earner is exempted from paying income tax. Suppose his deductions per month are P236.28 for Pag-ibig, P350.00 for PhilHealth and P540.00 for SSS. What is the take home pay of the minimum wage earner in metro manila?

4. A private university professor who receives a basic monthly salary of P80,000.00, a living allowance of P2,000.00 per month. Suppose this university professor has to pay monthly P14,833.33 for income tax, P2,450.00 for Philhealth, P1,600.00 for Pag-ibig and P1,125.00 for SSS contributions. What is the monthly net income of the private university professor? 5. A minimum wage earner in Metro Manila is paid P537.00 for an 8-hour workday. If he works for 22 days in one month, then he will have a monthly gross income of P537.00 x 22 = P11,814.00. A minimum wage earner is exempted from paying income tax. Suppose his deductions per month are P236.28 for Pag-ibig, P350.00 for PhilHealth and P540.00 for SSS. What is the take home pay of the minimum wage earner in metro manila?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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