1. Ms. Anna Frozen operates an ice cream store while she offers bookkeeping services to her clients. In 2018, her gross sales amounted to P400,000, in addition to her receipts from bookkeeping services of P150,000. She already signified her intention to be taxed at 8% income tax rate in her 1st quarter return. What is her tax due liability in her 1st quarter return?
1. Ms. Anna Frozen operates an ice cream store while she offers bookkeeping services to her clients. In 2018, her gross sales amounted to P400,000, in addition to her receipts from bookkeeping services of P150,000. She already signified her intention to be taxed at 8% income tax rate in her 1st quarter return. What is her tax due liability in her 1st quarter return?
Chapter5: Deductions For And From Agi
Section: Chapter Questions
Problem 20P
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Answer typewritten please. I'll only upvote if it is typewritten.
Transcribed Image Text:1. Ms. Anna Frozen operates an ice cream store while she offers bookkeeping services to her clients. In 2018,
her gross sales amounted to P400,000, in addition to her receipts from bookkeeping services of P150,000.
She already signified her intention to be taxed at 8% income tax rate in her 1st quarter return. What is her
tax due liability in her 1st quarter return?
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