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Book 1

The document shows details of 4 promissory notes including their face value, date, interest rate, term, maturity date, interest earned, and maturity value. Notes A and B have the lowest face values but the highest interest rates, while Note D has the highest face value but lowest interest rate. The maturity values represent the face value plus the interest earned on each note by the given maturity date.

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319 views4 pages

Book 1

The document shows details of 4 promissory notes including their face value, date, interest rate, term, maturity date, interest earned, and maturity value. Notes A and B have the lowest face values but the highest interest rates, while Note D has the highest face value but lowest interest rate. The maturity values represent the face value plus the interest earned on each note by the given maturity date.

Uploaded by

Sly Blue
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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1.

Lorna Chavez is a line manager of Sunday Machine Works and is receiving


a monthly salary of P30,000.
Required:
a. Net Taxable Income: P28,847.5
b. Tax Liability: P1,602.9
c. Take Home Pay: P27,244.6

2
MUSIC MUSEUM
PAYROLL SHEET
WE HEREBY ACKNOWLEDGE receipt of the sum specified opposite our respective names as full compensation for ou
July 16 to 31.
Names Position Gross Pay Withholding Tax Social Security Philhealth
Ted Flores Accountant P15,000 801.35 320 206.25
Rose Santos Secretary 10,000 - 320 137.5
Shirley Yu Cashier 12,000 209.6 320 165
Ben Chavez Clerk 7,500 - 300 103.125
P44,000 P1,010.95 1,260 611.88

Employer's Contributions

SS Philhealth
Ted Flores 1,280 412.5
Rose Santos 1,280 275
Shirley Yu 1,280 330
Ben Chavez 1,200 206.25
P5,040 P1,223.75
as full compensation for our services rendered for the period

HDMF Total Deductions Net Pay Signature


50 576.25 P14,423.75
50 507.5 P9.492.5
50 535 P11,465
50 453.125 P7,046.88
200 2,071.88 P42,608.13

EC HDMF TOTAL
30 100 P1,822.50
30 100 P1,685
30 100 P1,740
10 100 P1,536.25
100 400 P6,783.75
A B C D
Face value of note 8,000 50,000 10,000 15,000
Date of note May 17 April 24 July 14 December 15
Interest Rate 15% 12% 18% 6%
Term of Note 60 days 45 days 75 days 58 days
Maturity Date June 17 June 8 October 9 Febuary 13
Interest on Note P240 P750 P375 P150
Maturity Value P8,240 P50,750 P10,375 P15,150

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