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Compensation Income - (250,000 - 400,000) : Dazai Osamu

1) The document contains information about the compensation and business income of several individuals - Dazai Osamu, Jean Kirstein, Vinsmoke Sanji, Roronoa Zoro, and Monkey D. Luffy. 2) It provides details of their gross compensation, statutory contributions, tax exempt amounts, and taxable compensation income calculations. 3) It also provides details of the business income for Vinsmoke Sanji's restaurant Smokey Restaurant, Roronoa Zoro's sword shop Sworduckles, and Monkey D. Luffy's business Sunny Go including sales, cost of goods sold, expenses, taxable income calculations, and tax due amounts.

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Gideon Tangan Ines Jr.
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68 views

Compensation Income - (250,000 - 400,000) : Dazai Osamu

1) The document contains information about the compensation and business income of several individuals - Dazai Osamu, Jean Kirstein, Vinsmoke Sanji, Roronoa Zoro, and Monkey D. Luffy. 2) It provides details of their gross compensation, statutory contributions, tax exempt amounts, and taxable compensation income calculations. 3) It also provides details of the business income for Vinsmoke Sanji's restaurant Smokey Restaurant, Roronoa Zoro's sword shop Sworduckles, and Monkey D. Luffy's business Sunny Go including sales, cost of goods sold, expenses, taxable income calculations, and tax due amounts.

Uploaded by

Gideon Tangan Ines Jr.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ASSIGMENT- FABM2

Income and Business Taxation

Abigail Mae Ines

Abm1908

Compensation Income – (250,000 – 400,000)

Dazai Osamu generated annual compensation income of P 400,000

 Statutory Payment Follows:


SSS – P 6,500
PHIL HEALTH – P 6,700
PAG-IBIG – P 3,300
TOTAL: P 16,500

Tax exempt 13th month pay and other bonuses – P 50,000

Compensation Income

Gross Compensation 400,000


Less: Statutory Contributions
SSS 6,500.00
Phil health 6,700.00
Pag-Ibig 3,300.00

Less: 13th month pay 50,000


Gross Taxable Compensation Income 333,500.00
Less: Excess Over 400,000.00
Net Taxable Compensation Income 66,500.00
Tax Rate 20%
13,300.00

Tax Due 13,300.00


Jean Kirstein has generated annual compensation Income P 700,000

Compensation Income (400,000 – 800,000)

 Statutory payment as follows


SSS – 8,000
PHIL HEALTH –6,500
PAG-IBIG – 2,000
TOTAL: 16,500

Tax Exempt 13th month pay and other bonuses – P 50,000

Compensation Income

Gross Compensation 700,000.00

Less: statutory contributions


SSS 8,000.00
PHIL HEALTH 6,500.00
PAG-IBIG 2,000.00

Less: 13th month pay 50,000.00


Gross taxable compensation income 633,500.00
Less: Excess Over 400,000.00
Net taxable compensation income 233,500.00
Tax rate 25%
58,375.00
Fixed Tax 30,000
Tax due 88,375.00
Business Income

(800,000 – 2,000,000)

Vinsmoke Sanji the owner of Smookey Restaurant. His business has a total sale generated during the
year amounted to P 2,000,000. Cost of goods sold is P 700,000 and the total operating expense is P
400,000.

Business Income

Sales 2,000,000.00
Less: Cost of Goods sold 700,000.00
Gross Profits 1,300,000.00
Less: Operating Expenses 400,000.00
Gross Taxable compensation income 900,000.00
Less: Excess Over 800,000.00
Net taxable compensation income 100,000.00
Tax rate 30%
30,000.00
Fixed tax 130,000.00
Tax due 160,000.00
Business Income

(2,000,000 – 8,000,000)

Roronoa Zoro is the owner of Sworduckles. His business has a total annual sales P 3,500,000 in the year
of 2019, the cost of goods sold is P 900,000 and total expense is 550,000

Business Income

Sales 3,500,000.00
Less: Cost of goods sold 850,000.00
Gross profit 2,650,000.00
Less: Operating expenses 550,000.00
Gross Taxable compensation income 2,100,000.00
Less: Excess Over 2,000,000.00
Net taxable compensation income 100,000.00
Tax Rate 32%
32,000.00
Fixed Rate 490,000.00
Tax due 522,000.00
Business Income

(8,000,000 – above)

Monkey D. Luffy the owner of Sunny Go. Year 2020 his business got a total sales of P 8,880,000.00. Cost
goods sold P 2,000,000 and operating expense P 700,000

Business Income

Sales 8,880,000.00
Less: Cost of goods sold 2,000,000.00
Gross profit 6,880,000.00
Less: Operating expenses 700,000.00
Gross Taxable compensation income 6,180,000.00
Less: Excess Over 8,000,000.00
Net taxable compensation income 1,820,000.00
Tax Rate 35%
637,000
Fixed Rate 2,410,000.00
Tax due 3,047,000.00

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