Please show the solution. 10. In the immediately preceding problem, compute the taxable income if Mr. Jordnon-taxable compensation income, and gross business income of P500,000 belof P170,000 during the year. What is Mr. Jagna's taxable compensation incomeinterest income from clients' promissory notes. Mr. Jagna has personal expeexpenses of P200,000. He also earned book royalties of P10,000 and Pdisposed a vacant lot at a net gain of P140,000. What is the taxable income olexpenses in his accounting practice. During the same year, he also earned aof P60,000 net gain from the sale of domestic stocks directly to a buyet. He4. Mr. Cabilao earned total gross receipts of P800,000 and paid P300 005. Mr. Jagna earned a gross compensation income of P200,000, exclusive of PoCabilao?a. P400,000b. P460,000c. P 500,000d. P 600,000a. P 30,000b. P180,000c. P 200,000d. P 220,0006. What is Mr. Jagna's net income from business?a. P300,000b. P308,000c. P 310,000d. P 518,0007. What is Mr. Jagna's the taxable income?a. P508,000b. P450,000c. P558,000d. P468,0008. Mr. Bangal earned a compensation income of P120,000 and net income fbusiness of P300,000. He also earned P8,000 prizes from a dancing competand P45,000 royalties from his musical composition. Mr. Bangal has PISOpersonal expenses. Compute the taxable income.a. P473,000b. P465,000c.P 428,000d. P 420,0009. Mr. Jordan, with a P75,000 personal exemption, had the following data in 2021PhilippinesP 4,000,000 P 6,000,00040,0002,000,000Compute the taxable income if Mr. Jordan is a resident citizen.AbroadGross income from salesInterest income on depositsLess: Deductions80,0003,600,000a. P4,480,000b. P4,520,000c.P 2,040,000d. P 2,000,000is a non-resident citizen.a. P4,520,000b. P4,480,000c.P 2,040,000d. P 2,000,000256

Introduction:- The following basic information as follows under:- Cabilao earned total gross…

4 Mr. Cabilao earned total gross receipts of P800,000 and paid P300 disposed a vacant lot at a net gain of P140,000. What is the taxable income l earned buyer. He expenses in his accounting practice. During the same year, he al of P60,000 net gain from the sale of domestic stocks directly t Cabilao? a. P400,000 b. P 460,000 c.P 500,000 d. P 600,000

4 Mr. Cabilao earned total gross receipts of P800,000 and paid P300 disposed a vacant lot at a net gain of P140,000. What is the taxable income l earned buyer. He expenses in his accounting practice. During the same year, he al of P60,000 net gain from the sale of domestic stocks directly t Cabilao? a. P400,000 b. P 460,000 c.P 500,000 d. P 600,000

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter11: Investor Losses

Section: Chapter Questions

Problem 46P

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