1. Miguel provided the following data on the sale of her personal property sold in 2019 | held by her for 15 months. COST P225,000 Mortgage assumed by buyer 270,000 Installment Collection: 2019 67,500 2020 67,500 2021 45,000 REQUIREMENT: Compute for the below: a. Selling Price b. Contract Price c. Initial Payments d. Income subject to income tax in 2019, 2020, 2021
1. Miguel provided the following data on the sale of her personal property sold in 2019 | held by her for 15 months. COST P225,000 Mortgage assumed by buyer 270,000 Installment Collection: 2019 67,500 2020 67,500 2021 45,000 REQUIREMENT: Compute for the below: a. Selling Price b. Contract Price c. Initial Payments d. Income subject to income tax in 2019, 2020, 2021
Chapter7: Deductions And Losses: Certain Business Expenses And Losses
Section: Chapter Questions
Problem 40P
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT