A taxpayer made available the following financial information: Gross sales - Php 10,000,000 Cost of sales – Php 6,000,000 Expenses: Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 Rental - Php 240,000 Representation expense – Php 200,000 Depreciation expense – Php 200,000 Office supplies – Php 20,000 Miscellaneous expenses – Php 10,000 How much is the taxable income if the taxpayer is an individual opted for OSD?
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A taxpayer made available the following financial information:
Gross sales - Php 10,000,000
Cost of sales – Php 6,000,000
Expenses:
Salaries and wages – Php 1,000,000
Transportation and travel – Php 20,000
Rental - Php 240,000
Representation expense – Php 200,000
Office supplies – Php 20,000
Miscellaneous expenses – Php 10,000
- How much is the taxable income if the taxpayer is an individual opted for OSD?
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- A taxpayer made available the following financial information: Gross sales - Php 10,000,000 Cost of sales – Php 6,000,000 Expenses: Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 Rental - Php 240,000 Representation expense – Php 200,000 Depreciation expense – Php 200,000 Office supplies – Php 20,000 Miscellaneous expenses – Php 10,000 Other information: Asset – Php 5,000,000 Liability – Php 3,000,000 SHE – Php 2,000,000 How much is the income tax due under CREATE Law if the taxpayer is an ordinary partnership and opted for OSD? 120,000 480,000 720,000 600,000A taxpayer made available the following financial information: Gross receipts - Php 10,000,000 Cost of service – Php 6,000,000 Expenses: Depreciation expense – Php 200,000 Miscellaneous expenses – Php 10,000 Office supplies – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 How much is the income tax due if the taxpayer is an individual resident citizen? a.Php 2,278,800 b. Php 621,200 c, Php 361,000 d. Php 340,000A taxpayer made available the following financial information: Gross receipts - Php 10,000,000 Cost of service – Php 6,000,000 Expenses: Depreciation expense – Php 200,000 Miscellaneous expenses – Php 10,000 Office supplies – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 How much is the total allowable deduction if the taxpayer is a resident citizen? a. 1,570,000 b. PHP 1,590,000 c, Php 1,500,000 d. Php 7,590,000
- A taxpayer made available the following financial information: Gross receipts - Php 10,000,000 Cost of service – Php 6,000,000 Expenses: Depreciation expense – Php 200,000 Miscellaneous expenses – Php 10,000 Office supplies – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 How much is the total allowable deduction if the taxpayer is a resident citizen? Group of answer choices Php 7,590,000 Php 1,590,000 Php 1,500,000 Php 1,570,000 How much is the total allowable deduction if the taxpayer is a domestic corporation? Group of answer choices Php 7,590,000 Php 1,590,000 Php 1,500,000 Php 1,570,000A taxpayer made available the following financial information: Gross receipts - Php 10,000,000 Cost of service – Php 6,000,000 Expenses: Depreciation expense – Php 200,000 Miscellaneous expenses – Php 10,000 Office supplies – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 How much is the total allowable deduction if the taxpayer is a resident citizen? Group of answer choices Php 1,590,000 Php 7,590,000 Php 1,500,000 Php 1,570,000A taxpayer made available the following financial information: Gross receipts - Php 10,000,000 Cost of service – Php 6,000,000 Expenses: Depreciation expense – Php 200,000 Miscellaneous expenses – Php 10,000 Office supplies – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 How much is the total allowable deduction if the taxpayer is a resident citizen?
- A taxpayer made available the following financial information: Gross receipts - Php 10,000,000 Cost of service – Php 6,000,000 Expenses: Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Depreciation expense – Php 200,000 Office supplies – Php 20,000 Miscellaneous expenses – Php 10,000 How much is the income tax due if the taxpayer is an individual resident citizen? Group of answer choices Php 621,200 Php 361,000 Php 340,000 Php 2,278,800A taxpayer made available the following financial information: Gross receipts - Php 10,000,000 Cost of service – Php 6,000,000 Expenses: Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Depreciation expense – Php 200,000 Office supplies – Php 20,000 Miscellaneous expenses – Php 10,000 How much is the income tax due if the taxpayer is an individual resident citizen?A taxpayer made available the following financial information: Gross receipts - Php 10,000,000 Cost of service – Php 6,000,000 Expenses: Depreciation expense – Php 200,000 Miscellaneous expenses – Php 10,000 Office supplies – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 How much is the total allowable deduction if the taxpayer is a domestic corporation? Group of answer choices Php 1,590,000 Php 1,570,000 Php 1,500,000 Php 7,590,000
- asap A taxpayer made available the following financial information: Gross sales - Php 10,000,000 Cost of sales – Php 6,000,000 Expenses: Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Depreciation expense – Php 200,000 Office supplies – Php 20,000 Miscellaneous expenses – Php 10,000 How much is the taxable income if the taxpayer is a domestic corporation and opted for OSD? Group of answer choices b. 4,000,000 d. 2,400,000 c. 6,000,000 a. 2,410,00014 A taxpayer made available the following financial information: Gross sales - Php 10,000,000 Cost of sales – Php 6,000,000 Expenses: Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 Rental - Php 240,000 Representation expense – Php 200,000 Depreciation expense – Php 200,000 Office supplies – Php 20,000 Miscellaneous expenses – Php 10,000 How much is the taxable income if the taxpayer is an individual and opted for OSD? Group of answer choices Php 6,000,000 Php 4,000,000 Php 2,400,000 Php 2,410,000 PreviousNextA taxpayer engaged in buy and sell business incurred entertainment expense amounting to P35,000. If the net sales is P560,000, the deductible entertainment expense is: A. 32,300B. 2,800C. 35,000D. 5,600
