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    Ripfeelings
    The document contains solutions to various tax-related questions. It calculates fringe benefits, fringe benefit taxes (FBT), deductible expenses, and tax withholdings based on provided monetary values and rates. For example, question 21 calculates a rate of 0.65 based on given values of ₱97,500 and ₱150,000. Question 22 applies a 0.65 rate to values of ₱1,300,000 and ₱2,000,000 to determine FBT. It then lists various expenses and compensation amounts for different employees.

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    Computation

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    The document contains solutions to various tax-related questions. It calculates fringe benefits, fringe benefit taxes (FBT), deductible expenses, and tax withholdings based on provided monetary values and rates. For example, question 21 calculates a rate of 0.65 based on given values of ₱97,500 and ₱150,000. Question 22 applies a 0.65 rate to values of ₱1,300,000 and ₱2,000,000 to determine FBT. It then lists various expenses and compensation amounts for different employees.

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    The document contains solutions to various tax-related questions. It calculates fringe benefits, fringe benefit taxes (FBT), deductible expenses, and tax withholdings based on provided monetary values and rates. For example, question 21 calculates a rate of 0.65 based on given values of ₱97,500 and ₱150,000. Question 22 applies a 0.65 rate to values of ₱1,300,000 and ₱2,000,000 to determine FBT. It then lists various expenses and compensation amounts for different employees.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    18 views6 pages

    Computation

    Uploaded by

    Ripfeelings
    The document contains solutions to various tax-related questions. It calculates fringe benefits, fringe benefit taxes (FBT), deductible expenses, and tax withholdings based on provided monetary values and rates. For example, question 21 calculates a rate of 0.65 based on given values of ₱97,500 and ₱150,000. Question 22 applies a 0.65 rate to values of ₱1,300,000 and ₱2,000,000 to determine FBT. It then lists various expenses and compensation amounts for different employees.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 6

    SOLUTIONS:

    QUESTION 21
    Monetary Value ₱ 97,500.00
    ₱ 150,000.00
    RATE 0.65

    QUESTION 22
    Monetary Value ₱ 1,300,000.00
    ₱ 2,000,000.00
    RATE 0.65

    Fringe Benefit Tax ₱ 2,000,000.00


    Rank & File Employees ₱ 5,000,000.00
    FBT EMPLOYEES ₱ 7,000,000.00

    QUESTION 23
    Monetary Value 240,000(1,200,000 x 20%)
    RATE 0.65

    ₱ 369,231.00
    ₱ 129,230.85
    ₱ 0.35

    QUESTION 24
    FBT Expense ₱ 129,230.85
    Expense ₱ 1,200,000.00
    Total DE ₱ 1,329,230.85

    QUESTION 25
    Salaries & Wages ₱ 681,200.00
    Tax Witholding ₱ 134,800.00
    Total Fixed Monthly Allowance ₱ 60,000.00
    Gross Compensation ₱ 876,000.00

    QUESTION 26
    Allowance ₱ 48,000.00
    ₱ 73,846.15
    RATE 0.65

    Monetary Value ₱ 73,846.15


    ₱ 25,846.15
    RATE 0.35
    QUESTION 28
    Monetary Value ₱ 637,500.00
    RATE 0.50
    ₱ 318,750.00 ₱ 171,634.62
    ₱ 637,500.00
    ₱ 318,750.00 ₱ 809,134.62
    ₱ 490,384.62
    0.65

    ₱ 490,384.62
    0.35 ₱ 171,634.62

    QUESTION 29
    Zonal Value ₱ 2,000,000.00 Fringe Benefit
    % of FMV 0.05 RATE
    FMV RATE ₱ 100,000.00
    Annual Value RATE 0.5 ₱ 76,923.08
    Fringe Benefit ₱ 50,000.00 0.35
    ₱ 26,923.08

    QUESTION 30
    Acquisition Cost ₱ 3,000,000.00 Fringe Benefit
    % of FMV 0.05 RATE
    FMV RATE ₱ 150,000.00
    Annual Value RATE 0.5 ₱ 9,615.38
    Fringe Benefit ₱ 75,000.00 0.35
    ₱ 3,365.38
    ₱ 75,000.00
    ₱ 6,250.00
    12 Months

    QUESTION 31
    Zonal Value ₱ 5,000,000.00 Fringe Benefit

    Fringe Benefit ₱ 5,000,000.00


    ₱ 7,692,307.69
    RATE 0.65

    ₱ 7,692,307.69
    0.35 FBT RATE
    ₱ 2,692,307.69 FBT
    QUESTION 32

    Zonal Value ₱ 5,000,000.00


    ₱ 2,000,000.00
    Fringe Benefit ₱ 3,000,000.00

    Fringe Benefit ₱ 3,000,000.00


    ₱ 4,615,384.62
    RATE 0.65

    ₱ 4,615,384.62
    0.35 FBT RATE
    ₱ 1,615,384.62 FBT

    QUESTION 33
    0; 0 because it is too far for entity

    QUESTION 34
    CAR ₱ 1,000,000.00 FRINGE
    ₱ 1,538,461.54
    FB RATE 0.65 BENEFIT

    Fringe Benefit ₱ 1,538,461.54


    FBT RATE 0.35
    FBT ₱ 538,461.54

    QUESTION 35
    Monetary Value ₱ 800,000.00 FRINGE
    ₱ 1,230,769.23
    FB RATE 0.65 BENEFIT

    Fringe Benefit ₱ 1,230,769.23


    FBT RATE 0.35
    FBT ₱ 430,769.23

    QUESTION 36
    Monetary Value ₱ 1,000,000.00
    ₱ 200,000.00
    5

    Monetary Value ₱ 200,000.00


    FB RATE 0.65
    FB ₱ 130,000.00
    Fringe Benefit ₱ 130,000.00
    FBT RATE 0.35
    FBT ₱ 45,500.00
    150,000.00

    2,000,000.00

    ₱ 369,231.00
    Deductible Amount

    ₱ 50,000.00
    ₱ 76,923.08
    0.65

    FBT RATE
    FBT

    ₱ 6,250.00
    ₱ 9,615.38
    0.65

    FBT RATE
    FBT/Month

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